Finding a new bank doesn’t have to be a stressful experience with us. This is our list of the best banks in South Carolina.

For the best CD rates in South Carolina, click here.

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1. Houston Federal Credit Union

Savings APY: 5% with CU account

CD APY: 6-month to 12-month – 2.25%, 12-month to 18-month – 3%

Monthly Fees: $3

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? 1 branch in South Carolina.

Pros:

  • Interest rates are low.
  • The application.

Cons

  • Membership requirements are pretty strict.
  • Multiple fees may be charged.

First on our list of the best banks in South Carolina is HFCU, which began as Fluor Mid-Continent Employees Federal Credit Union, and today has over $600 million in assets. It was founded in 1960 and had expanded to 165 workers and 66,340 members at 12 locations by June 2022. They are large enough to offer the complete range of financial goods and services that its members want and want, while also giving great service that is second to none.

HFCU offers a variety of goods to its customers, including business services, car loans, checking, credit cards, home equity investments, mortgages, personal loans, savings & CDs.

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2. Founders Federal Credit Union

Savings APY: 0.25% with a $5 minimum balance

CD APY: 2-year – 2.73%, 4-year – 3.09%, and 6-year APY – 3.29%, with a minimum deposit of $500

Monthly Fees: $0

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Founders Federal Credit Union has more than 30 offices across ten counties in South Carolina

Pros:

  • Insurance for almost every car is available.
  • Anyone can walk in for free financial help.

Cons

  • Accessibility is restricted to a small part of South Carolina.

Another one of the best banks in South Carolina, Founders Federal Credit Union has been in business since 1983. It is South Carolina’s largest credit union, with $3.91 billion in assets and over 247,000 members as of September 2022.

This member-owned financial cooperative provides its members with different banking services like savings accounts, loans, and other financial products. The immediate families of current members are also eligible to join.

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3. South Carolina Federal Credit Union

Savings APY: 0.05% with a minimum balance of $150

CD APY: 1-year – 0.25%

Monthly Fees: $0

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Founders Federal Credit Union has 28 branches.

Pros:

  • Accepts Credit Cards.
  • Offers Military Discount.

Cons

  • Outdated health insurance schemes.

A financial corporation with its headquarters in North Charleston, South Carolina is called South Carolina Federal Credit Union.

South Carolina Federal Credit Union has been in existence since 1936. As of September 2022, it had more than 175,000 members and $2.58 billion in assets, making it the second-largest credit union in South Carolina.

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4. CIT Bank

Savings APY: 3.25% with a minimum balance of $100

CD APY: 6-month to 5 years – 0.30% to 4.25% with a minimum deposit of $1K

Monthly Fees: $0

Federally Insured by: FDIC insurance

How many branches are in the State? No physical branch.

Pros:

  • One of the market’s finest APYs.
  • There are no monthly costs.
  • Minimum requirement of $100

Cons

  • To get the highest APY, you must make $100 in monthly deposits.
  • Keep a balance of at least $25,000 in your account.

A United States-based provider of financial services, CIT Group (CIT) is a division of First Citizens BancShares. Contrary to many other banks, CIT Bank lacks an ATM network. However, it does not charge you to use ATMs and will repay you up to $30.

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5. Bank of America

Savings APY: 0.01% with a minimum balance of $100

CD APY: 1-year – 0.03%, 3-year – 0.03%, 5-year – 0.03% with a minimum deposit of $1,000

Monthly Fees: $12

Federally Insured by: FDIC insurance

How many branches are in the State? The Bank of America has 4,100 retail financial centers and approximately 16,000 ATMs. There are about 80 branches in South Carolina.

Pros:

  • First-rate mobile app.
  • Decent APYs.

Cons

  • Limited account choices.

The Bank of America Corporation (BoA) is a North Carolina-based American global investment bank and financial services holding company. The bank was founded in San Francisco.

It should not be surprising that Bank of America has thousands of branches and fee-free ATMs spread out across the nation given that it is one of the largest banks in the country.

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6. Navy Federal Credit Union

Savings APY: 0.25% with a minimum deposit of $5

CD APY: 1-year – 3.00%, 3-year – 3.30%, and 5-year – 3.35% with a minimum deposit of $1,000.

Monthly Fees: $0

Federally Insured by: National Credit Union Administration (NCUA)

How many branches are in the State? In Virginia, Maryland, and California, many of the 350 branches of the Navy Federal Credit Union are near military facilities. More than 30,000 free ATMs are also available.

Pros:

  • Most checking and savings accounts have no monthly fees.
  • Big ATM network without fees.
  • Competitive rates on certificates.

Cons

  • Limited branch network.
  • Strict criteria for membership.

Navy Federal was established on January 17, 1933, and originally known as the Navy Department Employees’ Credit Union of the District of Columbia. It is a full-service financial organization and offers a variety of products and services. Customers that need straightforward bank accounts and are in the military or connected to someone who will find it to be a great fit. It provides a wide range of financial products, including checking, savings, money market, certificates, and credit cards.

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7. Ally

Savings APY: 0.21%

CD APY: 11-month – 2.75.00%, without a minimum deposit

Monthly Fees: $0

Federally Insured by: FDIC insurance

How many branches are in the State? No branch or ATM access

Pros:

  • APY is higher than the average.
  • There are no minimum balance requirements.
  • There are no account maintenance costs.
  • Customer help is available 24/7.

Cons

  • No physical bank branches.
  • No credit cards.

Wrapping up our list of the best banks in South Carolina, Ally Bank takes pride in being a one-stop shop for banking consumers seeking a variety of services. The bank has no physical locations, but customers can use over 43,000 fee-free Allpoint ATMs around the country. Ally Bank provides an online savings account, a money market account, and a variety of CDs.