Grow Your Wealth
Life requires all sorts of financial tools. That’s why we offer several investment resources to help you grow your wealth, save for retirement, and be prepared to pay for medical expenses.
Certificates of Deposit (CDs)
A Certificate of Deposit is a form of savings account that allows you to deposit money and earn interest during a fixed period of time, known as a term.
Palmetto State Bank offers a variety of terms, from 30 days all the way up to five years. CD interest rates are fixed over the life of the term, so you’ll know what you’re earning on your money. And with our deposit value calculator, you can estimate how much your account can grow.
Interested in opening a CD account? Give us a call at (803) 943-2671.
Individual Retirement Accounts (IRAs)
Saving for retirement can seem overwhelming. But with the right tools, you can begin contributing towards your goals after work so that you have enough money to enjoy life and do the things you’ve dreamed of. We offer a variety of IRAs:
IRA accounts have various tax implications. We strongly recommend consulting with your tax advisor to determine the best fit for your unique situation.
Traditional - A traditional IRA allows you to defer the taxes owed on your earnings until you withdraw the funds.
Roth - With a Roth IRA, your contributions are taxed, so your investment grows tax-deferred and a qualifying withdrawal is tax-free.
Education - Education IRAs are designed to help you save for your child’s education. You’re allowed after-tax contributions of $500 per year per child until they reach age 18.
If you’d like to learn more about an IRA or start the process of opening an account, reach out to us at (803) 943-2671 or visit your local branch.
Health Savings Account (HSA)
A health savings account allows you to pay for medical expenses through a tax-exempt trust. It’s a great tool to cover many purchases like prescription drugs and medical equipment and can be used to cover doctor’s office visits. Our HSA account has no monthly fees and you get an easy-to-use debit card.
Want to open an HSA account? Reach out to us at (803) 943-2671 or visit your local branch.