Best Money Market Accounts in South Carolina of May 2021

Mary Gilman

Banks in South Carolina offer a wide variety of money market accounts with competitive rates and features. Whether you are just starting your savings journey or seeking a place to invest your funds, there is an account available for you. Shop around and compare the different options to find the best match for your financial needs.

To narrow down your options, start by comparing the interest rates or annual percentage yield (APY). Money market rates vary according to the prevailing market rates so if earning a high-interest is your main goal, find options that offer a higher APY than the market rate. Online accounts usually offer a higher rate than traditional brick-and-mortar accounts because online banks have no physical overheads.

Another important factor to consider is the account minimums and fees. Most accounts that offer high APYs have a high initial minimum opening deposit. Others may have a high APY with high monthly and transactional fees. Aim at finding an account with the best combination of high-interest rates, low fees, and minimum requirements.

We compared some of the available options to come up with our top picks for the best money market accounts in South Carolina. Compare the different options and decide on the right account for you today.

Axos Bank High Yield Money Market Account

axos bank logo

$0

Monthly Fee

$1000

Min. To Open

0.60%

Est. APY

Overview

This is a great money market account which acts like a checking account in some aspects.

It comes with a debit card and check writing privileges but be careful not to go over the monthly limit of 6 transactions. Per transaction above the limit will be expensive, around $10 per transaction.

What we like

  • Reimburses domestic ATM fees twice a month
  • Interest compounded daily
  • Debit card and check writing allowed

What we don't

  • No physical branch
  • $1,000 to open account
  • 6 Monthly Transaction Limit

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$1000
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingAllowed
  • Debit Card UseAllowed

CIT Bank Money Market Account

cit bank logo

$0

Monthly Fee

$100

Min. To Open

0.50%

Est. APY

Overview

This money market account comes with a low intial deposit of $100 to open the account and comes with no monthly fees. Interest is compounded daily and paid monthly.

You'll earn the current APY rate regardless the amount you deposit in the account - there is no tiered system.

What we like

  • No monthly fees
  • $100 to open
  • Zelle & Paypal available

What we don't

  • No check writing
  • No physical branch locations
  • No tier for higher APY

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$100
  • Min. Deposit For No Fee$0
  • Overdraft Fee$25
  • InsuredFDIC
  • State RestrictionsNone

ATM & Limits

  • Monthly Transaction Limits6
  • Excessive Transaction Fee$10+
  • ATM FeesDepends on ATM
  • Check WritingN/A
  • Debit Card UseAllowed