Certificates of Deposit (CDs)

A Certificate of Deposit account can be a great asset to a well-rounded savings strategy. We offer a variety of terms to match your savings goals, and all accounts at Security National Bank of South Dakota are FDIC insured to the maximum applicable limits.

CD Rates

See our current CD rates online or contact us for current annual percentage yield information.

What is a certificate of deposit? 

A Certificate of Deposit (CD) is a financial account that holds a fixed amount of money for a period of time — like six months, 12 months or five years — and the Bank will pay you guaranteed interest for holding the money.

Compare CD Accounts


Traditional CD

Step-Up CD

Flex CD

  Apply Now Apply Now Schedule Appointment
 Term  Variable, from 91 days to 5 years (see rates page). 30 Months  5 Years
Minimum Opening Deposit $1,000 $1,000 $1,000
Interest Credited 

For 1 year or longer term: Semi-annually (2/yr).

Less than 1 year: Interest is compounded once.

Semi-annually (2/yr)  Semi-annually (2/yr) 
Auto-Renew Option? checkmark icon checkmark icon checkmark icon
Free Online Banking checkmark icon checkmark icon checkmark icon
Free eStatements checkmark icon checkmark icon checkmark icon
Account Details An increased CD Plus rate (see rates page) is available to new or existing checking account customers.

NOTE: Only 14-month and 22-month terms are available for online application.

An increased CD Plus rate (see rates page) is available to new or existing checking account customers.

After 15 months, a "step-up" one-time rate increase is available to the customer upon request.

One-half (1/2) of the principal may be withdrawn without penalty after 15 months (during initial term only).

Rate modification or increase will be equal to the Bank's current 30-month offer rate at date of customer's request.

An increased CD Plus rate (see rates page) is available to new or existing checking account customers.

One rate modification allowed during the first year, and one rate modification allowed during the last year (initial term only).

Rate modification or increase will be equal to the Bank's current 5-year offer rate at date of the customer's request.

Interest Rates See Current Rates See Current Rates
See Current Rates
  Apply Now Apply Now Schedule Appointment

Frequently Asked Questions

This page offers a list of Frequently Asked Questions (FAQs) and answers regarding Certificates of Deposit at Security National Bank.

How do I open a CD account?

To get started, set up an appointment or call us at (605) 977-9000 in Sioux Falls or (605) 232-6060 in Dakota Dunes.  You can also apply online for a 14-month, 22-month or 30-month CD.

What is the difference between a CD and savings account?

CDs are a low-risk savings tool, and they generally pay a higher interest rate than a regular savings account. They also have a fixed interest rate, unlike savings accounts, which have variable interest rates that are subject to change.

Can I lose money in a CD account? 

No, CD accounts grow at a fixed rate over a set period of time called a term. The money is also FDIC insured up to allowable limits, making CD accounts among the lowest-risk investments that will not lose value. The only way you could lose money is if you make an early withdrawal from your CD. In this case, you would face a potential penalty (see below question).

How much do I need to open a CD?

All Security National Bank CDs require a minimum deposit of $1,000 to open an account.

Are there any additional fees for opening a CD? 

No, you will not be charged any fees when opening a certificate of deposit account and it will not affect your credit score in any way.

Can I open a CD online? 

Yes, you can select terms of 14, 22 or 30 months online. To select other terms, please visit one of our branch locations.

How much interest will I get on my CD?

How much interest you earn depends on how much you deposit, your term and your interest rates. See our current rates or use the calculator on this page to see how much you could earn at the end of each term.

Interest begins to accrue on the business day you deposit non-cash items (e.g. checks). You must maintain the minimum balance designated for each term in the account each day to obtain the disclosed annual percentage yield (APY). Simple interest is compounded and credited semiannually for terms of one year or longer. For terms of less than one year — simple interest is compounded and paid at maturity.

Can I add money to my existing CD?

No, you cannot add money to an existing account until its maturity date. However, you can open additional CDs anytime at Security National Bank. Contact us to learn more.

Can I withdraw my money before the CD term is up?

You can withdraw your money early, however there will be a penalty for withdrawal prior to the end of your CD term.

Term Penalties:

  • 91 days or less: The greater of 7 days interest or the accrued interest
  • 92 days to 1 year: 91 days interest
  • Over 1 year: 182 days interest

What happens when my CD matures? 

Once your CD matures, you will have a 10-day window to choose between three options: 

  1. Allow your CD to renew.
  2. Withdraw your money and open a different CD with new terms.
  3. Withdraw your money and put it into another account.

If you do not withdraw your money, Security National Bank will automatically renew your CD for the same term — although it may be at a different rate — until the Bank receives written notice that you no longer wish to renew the account. 

Contact us to learn more.

What does FDIC insured mean?

The Federal Deposit Insurance Corporation (FDIC) insures deposits for banks. Many types of bank accounts are FDIC insured up to $250,000. This protects your money in the event that a bank fails or closes, but only to that maximum amount. Most deposit accounts, such as savings and checking accounts, are FDIC insured. Many investment accounts are not.

Learn more about the FDIC »

Ready to take the next step?

Set up Appointment    Apply online

*Rates and Annual Percentage Yields (APY) are offered on Certificate of Deposit (CD) accounts accepted by the Bank and effective as of , unless otherwise noted. $1,000 minimum deposit to open a a CD account.Offer good for the initial term only. Advertised rate and APY are offered at the bank's discretion and may change daily. Annual Percentage Yield (APY) assumes principal and interest remain on deposit for the term of the certificate. All interest payments for the APY will be made at the end of the term or annually, whichever occurs first. Early withdrawal penalties may apply. Fees could reduce earning on the account. The interest rates and Annual Percentage Yields displayed here are for the Security National Bank locations in Sioux Falls, S.D. Offer is not valid in conjunction with other promotional offers.