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GrandSouth Bank Review

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GrandSouth Bank Savings
0.15% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


GrandSouth Bank was founded in 1998 with its headquarters in Greenville, South Carolina. GrandSouth Bank manages assets of $653 million along with $572 million in deposits, classifying it as a medium-size bank. GrandSouth Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. Overall, GrandSouth Bank is an acceptable bank choice, but may leave you wanting more, with a rating of 3.8 stars out of 5 from our experts. GrandSouth Bank has a varied choice of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. GrandSouth Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, GrandSouth Bank offers an option without a maintenance or monthly fee. Locating a bank with no-fee checking, in addition to a high savings APY is your best option for gaining the highest income on your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more


SmartAsset Average: 3.5

GrandSouth Bank features a savings rate of 0.15%, which is poor compared to the average U.S. bank. Its one-year CD earns at a rate of 0.35% and the five-year CD has a rate of 1.01%, while its highest-yielding money market account earns at a rate of 0.25%. Given GrandSouth Bank's poor savings rate, you should think about other options to earn more on your deposits.

How GrandSouth Bank's Savings Rates Compare

GrandSouth Bank Savings 0.15 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

GrandSouth Bank charges its customers extremely low fees as compared against the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. GrandSouth Bank does not refund out-of-network ATM fees, which means you'll be required to find a GrandSouth Bank ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

GrandSouth Bank is a brick-and-mortar bank, with seven total bank locations in South Carolina. It also offers access to mobile and web apps for simple access and banking on the go. You can access GrandSouth Bank's mobile app to control your funds by monitoring current statements, transferring funds and accessing customer service. GrandSouth Bank receives a superb consumer satisfaction rating based on comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating NR
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

GrandSouth Bank is a medium-size bank and handles $653 million in assets and $572 million in deposits. Its Texas Ratio is 10.13%, suggesting that the bank is in good financial well-being and unlikely to fail. Additionally, GrandSouth Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare GrandSouth Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.15% APY $200
Checking Account 0.05% APY $2500
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.60% APY
  • 36 Month: 1.01% APY
  • 48 Month: 1.01% APY
  • 60 Month: 1.01% APY
$1000 for all terms
Money Market Account 0.1% APY $1000

GrandSouth Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. GrandSouth Bank does not have the best savings rate, which means you should consider taking a look elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. GrandSouth Bank's CD rates are fair in comparison to other U.S. banks.

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Find a GrandSouth Bank Near Me

GrandSouth Bank has seven physical branches in the U.S.

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