Highest Sumter 24-Month CD Rates: September 2011
It seems like deposit account rates are just getting lower and lower, which makes finding a competitive Sumter CD rate seem near impossible. Fortunately, there are still banks and credit unions in the area that are offering excellent CD rates if you know where to find them.
This is especially true for 24-month CDs in Sumter, which tend to offer the best rates.
What Is a 24-Month Certificate of Deposit?
CDs come in many terms, which refers to the amount of time your money remains on deposit. 24-month CDs are at the long-term end of the spectrum. There are a couple of reasons why you may choose a longer term of 2 years.
The top reason, however, is that a long-term CD usually allows you to obtain a higher interest rate. This is because financial institutions want to encourage account holders to keep their savings on deposit longer.
That means a 24-month CD is a great choice if you are interested in earning a better rate than a savings account can provide and–most importantly–you can afford to keep your money on deposit for a full 2 years.
Top 24-Month CD Rates in Sumter
If you’re interested in finding a 24-month CD account near you that also provides a great rate, check out the banks and credit unions below:
- Palmetto First Credit Union: 1.1%
- Honda Credit Union: 1.1%
- Safe Credit Union South Carolina: 1.1%
- Palmetto Citizens Credit Union: 1.08%
- Pee Dee Credit Union: 1%
Please note these rates are accurate as of September 7, 2011, but are subject to change at any time. Further, you may be subject to additional terms and requirements. Please check with individual financial institutions to verify rates before opening an account.
