CDs are promissory notes issued by banks. They are time deposits usually having maturities ranging from 30 days to as long as ten years. The most popular terms are from 90 days to five years. Since they are time deposits, they usually offer higher interest rates than savings accounts, but they have penalties for early withdrawals.1
Tailored to fit your needs, South State Certificates of Deposit (CDs) offer competitive rates and terms plus an automatic renewal option for your convenience.
Since their interest rates don’t change over their term, CDs can play a central role in your overall savings plan.
1. Early withdrawals may result in loss of earned interest and some principal.