Savings Account Options

When it comes to saving money, Security National Bank of South Dakota is committed to helping you reach your goals. That's why we offer a wide selection of savings plans for you to choose from. All of your bank deposits are insured up to $250,000 by the FDIC.

Which savings account is a good fit for you? Compare your options and open an account online, or make an appointment at your nearest SNB of South Dakota branch today:

  Regular Savings Serious on Savings (SOS) Money Market Gold Money Market Gold PLUS
  Schedule Appointment
Minimum Opening Deposit $50 $1.00 $2,500 $25,000
Account Requirements $200 Daily Balance $25 Monthly Transfer from an SNB Checking Account $2,500 Average Daily Balance* $25,000 Average Daily Balance*
Maintenance Fees
(only charged if requirements are not met)
$2.00/month
$3.99/month $7.00/month
$25/month
ATM Privileges checkmark icon checkmark icon checkmark icon checkmark icon
Withdrawals Allowed Per Month
Two One Six
(non-SNB ATM transactions do not count toward this limit)
Six
(non-SNB ATM transactions do not count toward this limit)
Withdrawal Fees
(per transaction, after monthly limit is reached)
$1.00 $5.99 $1.00 $1.00
Free Online Banking checkmark icon checkmark icon checkmark icon checkmark icon
Free eStatements checkmark icon checkmark icon checkmark icon checkmark icon
Interest Rates See Current Rates See Current Rates
See Current Rates
See Current Rates
  Full Summary Full Summary Full Summary Full Summary

 

Regular Statement Savings Account

  • Minimum opening deposit of $50.
  • Up to two withdrawals allowed per month. Three or more are $1.00 each. Non-SNB ATM transactions are not counted in the 2 transaction limit. (Listed on statement as Total Fees For Service-Chargeable Debits)
  • No maintenance fee with a minimum daily balance of $200. Should your balance fall below $200 on any day of the month, there will be a $2.00 monthly maintenance fee per month*

*Minors are exempt from the $2.00 monthly maintenance fee.

 

Serious On Savings (SOS) Account

  • Minimum opening deposit of $1.00.
  • Make monthly transfers of $25 or more from a SNB checking account into a SOS account and earn a higher rate of interest than with our Regular Statement Savings account.
  • There will be a $3.99 maintenance fee each month the minimum monthly transfer is not made.
  • One withdrawal per month is allowed- $5.99 for each additional withdrawal (Listed on statement as Total Fees for Service-Chargeable Debits)
  • Withdrawals completed on ATMs will be charged $5.99 (Listed on statement as Transaction Fee)

 

Money Market Gold Savings Account

  • Minimum opening deposit of $2,500.
  • If your average daily balance* falls below $2500 during the month, the monthly maintenance fee is $7.00.
  • There is a $1.00 fee for all transactions exceeding six per month. Non-SNB ATM transactions are not counted in the six transaction limit. (Listed on statement as Total Fees for Service-Chargeable Debits.)

* The Average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

 

Money Market Gold PLUS Savings Account

Earn a disclosed annual percentage yield with a minimum $25,000 daily balance by opening a Money Market Gold Plus Account. 

  • Minimum $25,000 opening deposit is required.
  • If your average daily balance* falls below $25,000 during the month, a maintenance fee of $25 will be applied.
  • ATM privileges are included with this account.
  • After six transactions per statement cycle, there will be a $1.00 fee assessed per transaction. (Non-SNB ATM transactions do not count toward the six transaction limit.)

*The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.

Schedule Appointment

 

ATM Card Usage

A $1.50 plus tax charge will be assessed for transactions not completed on a Security 24 ATM. This will be listed on your statement as: Transaction Fee, Non-SNB ATM. This fee will be waived on Money Market Gold Savings accounts if you maintain an average daily balance of $15,000 or more.

More Savings Account Information

Depositors are limited to six transfers and withdrawals (per statement cycle) to another account or to a third party by means of pre-authorized, automatic, or telephonic transfer. This applies to all savings accounts. VISA debit and POS transactions are not permissible on the above listed accounts. We may at any time refuse to accept or limit additional deposits to the account.

 

Certificates of Deposit

A Security National Bank Certificate of Deposit (CD) is a savings vehicle with a guaranteed interest rate. Choose short-term CDs of one month to one year. If you prefer, you can invest in a longer term CD up to five years.  See Current Rates for CD Specials. 

Individual Retirement Accounts (IRA)

A Individual Retirement Account (IRA) is a flexible investment plan which allows individuals to plan for retirement. An individual under the age of 70 for the entire tax year and who has earned income can establish an IRA. An IRA may be invested in a variety of investment vehicles such as Variable Rate IRA, Fixed Rate IRA, Self-Directed IRA, Qualified Annuity, or Fully Managed Individual Retirement Trust Account. Interest rates may vary by term and type of investment. 

Rules for determining active participation in an employer maintained retirement plan vary, depending on whether it is a Qualified Retirement Plan, Qualified Annuity Plan, Tax-Sheltered Annuity, Simplified Employee Pension Plan or Government Plan.  In general, a person is considered an active participant if they have satisfied the plan's age and service requirements and voluntary or mandatory contributions have been made to their plan. The current employer (or former employer) will inform the employee of their active participation status for the tax year on the Form W-2 Wage and Tax Statement.

IRA Features

Contributions to an IRA can be made in a lump sum or made in smaller increments. IRA deposits are insured up to $250,000 when invested in either the Variable or Fixed Rate IRAs. A 3-year rate watcher option available.

IRA Benefits

IRAs give you flexibility to set up an investment to meet individual needs. The deposits are safe, you choose the desired rate according to market outlook, and you have the opportunity to trade to a higher rate if the market improves.

More Questions?

We're here to help. Contact us by clicking the link below.

Contact Us