If you are from South Carolina, there is a very good money market deal that you can take advantage of. Coastal Carolina National Bank offers their introductory best interest rates for their Premier Money Market Account that gains 2.50% APY for balances of at least $100,000.

Interested individuals can open the money market account via mail or by visiting their office. The bank will require copies of your valid identification and a notarized signature card. You can open the account with an initial deposit of $10,000. A $10 fee will be charged if you drop below the $10K required minimum daily balance.

The other tiers for this money market account are the following:

$1000 to $9,999 1.00% APY
$10000 to $24,999 1.25% APY
$25K to $49,999 2.00% APY
$50K to $99,999 2.25% APY
$100,000 or more 2.50% APY

The interest rates are accurate as of 24 July and may change any time. It will be best to confirm the current rates before applying for anything. For this premier money market account, the interest rates are compounded on a daily basis and credited to your account per statement cycle.

Other perks which come with this offer include free telephone banking, online banking, and monthly statements.

The account is limited by law to six free withdrawals or transfers per month. You can also ask the bank for any other fees which may affect the earnings of your deposit.

The Coastal Carolina National Bank is a very new bank and maybe looking for long-term clients who can stay with them even after these good money in the bank deals.

The bank is very new and FDIC still does not list it on its database. Their office can be found at 2305 Oak Street in Myrtle Beach, South Carolina. Their service coverage is focused on the North Myrtle Beach, Conway, and Myrtle Beach.