Make your money work harder. And smarter.
We can help put your money to work to meet your financial goals. Let compound interest work its magic in one of our savings accounts, money market accounts or Certificates of Deposit (CDs), where you can choose from flexible options and great rates.
Need some help deciding? Use the comparison chart to help you make smarter decisions with your money when you open an account with The Palmetto Bank.
|Savings||Money Market||CD (Certificate of Deposit)|
|Best for you if…||You want a place to grow your money with lower fees and balance requirements.||You already have money saved and want convenient access to your money when you need it.||You can afford to save your money and not access it for a specified period of time.|
|Key Features||A savings account offers a safe, easy-to-access (liquid) option to earn interest on your funds. Traditional savings accounts allow you to start the account with a lower minimum deposit to open an account.||If you are looking for an interest-bearing savings account with greater liquidity and convenient access to your money, you may want to consider a money market. A money market account is a higher yielding savings account with Annual Percentage Yields (APYs) that may fluctuate based on market conditions.A money market account typically requires a higher opening deposit than a traditional savings account. Savings accounts usually require a lower opening deposit, but often have lower interest rates.||When you save money in a CD, you are agreeing to let The Palmetto Bank hold your money for a fixed amount of time, known as the term of deposit. Common CD terms are three months, six months, one year and five years. But other terms may be available. In return for agreeing to deposit your money for the term, traditional CDs usually offer a higher, fixed interest rate than money markets or other bank accounts that allow you to withdraw money on demand. A penalty may apply for withdrawl of funds before CD matures.|
|Interest Features||Same Annual Percentage Yield (APY) for all balances.||Traditionally higher interest rates than a savings account.||Interest rates often higher for longer-term CDs.|
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