Best 2-Year CD Rates in South Dakota, SD

You are viewing rates from banks across South Dakota

Below are two-year Certificates of Deposit (CD) rates from banks in South Dakota. Two-year CDs generally offer a higher rate than 1-year CDs but require a longer commitment. Depending on the economy, longer term CDs may or may not offer more premium as the term increases. If you expect rates on bank products to drop, can afford to lock the money away, and feel you are receiving enough premium for the time commitment, then longer-term CDs may be appropriate.

SD - November 27, 2024

2 Year CD National Average : 0.66% ^?

Banks	APY	MIN	MILES ^?
Seattle Bank	4.05%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 4.75% → 4.75% → 4.40% → 4.30% → 4.05%
Rob H. \| Nov 21, 2023 A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More Reviews (2)
Bank of Whittier, National Association	3.87%	$1,000	-	Learn More Add Review
Banesco USA	3.75%	$1,000	-	Learn More
Early Withdrawal Penalty is 180 days interest. Rate History: 0.55% → 0.50% → 3.80% → 3.75%
Dkplan \| Dec 27, 2022 They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe? Read More Reviews (8)
Citizens	3.75%	$5,000	-	Learn More
Dana E. \| Mar 20, 2016 Good solid bank. Read More Reviews (1)
Capital One, National Association	3.60%	$0	-	Learn More
Rate History: 4.30% → 4.20% → 4.00% → 3.70% → 3.60%
highstream \| Jan 2, 2024 Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More Reviews (14)
Gateway First Bank	3.35%	$500	-	Learn More
JohnC \| Oct 11, 2020 You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More Reviews (3)
Blue Foundry Bank	3.25%	$1,000	-	Learn More Add Review
Rate History: 3.50% → 3.25%
USAA Federal Savings Bank	2.60%	$1,000	-	Learn More
Rate History: 5.00% → 4.40% → 4.00% → 3.85% → 2.60%
RYAN S \| Nov 28, 2022 While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More Reviews (2)
Citibank, National Association	2.00%	$0	-	Learn More
Azoic \| Feb 25, 2022 I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More Reviews (11)
JPMorgan Chase Bank, National Association	2.00%	$10,000	-	Learn More
Rate History: 3.00% → 2.50% → 2.00%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
One American Bank	1.96%	$500	-	Learn More
Jan \| Feb 6, 2021 After purchasing more than 6 homes and going through more than a dozen refinancing processes, I must say that this is the worst company I have ever had the misfortune of dealing with. It took these clowns ... Read More Reviews (2)
Hingham Institution for Savings	1.75%	$1,000	-	Learn More Add Review
Ipswich State Bank	1.30%	$100,000	-	Learn More Add Review
Frontier Bank	1.15%	$10,000	-	Learn More Add Review
Merchants State Bank	1.10%	$10,000	-	Learn More Add Review
Heritage Bank National Association	1.05%	$2,000	-	Learn More
Rate History: 0.24% → 1.05%
WPT \| Nov 2, 2020 Got the account opened after weeks and finally got it funded and then they dropped the rate the next day and it is no longer competitive. Read More Reviews (14)
TD Bank, National Association	1.00%	$10,000	-	Learn More
Rate History: 4.00% → 1.00% → 4.00% → 1.00%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
Richland State Bank	1.00%	$10,000	-	Learn More Add Review
American State Bank	1.00%	$10,000	-	Learn More
Lindap \| Jun 25, 2020 If you need a simple answer you will have to jump through hoops and talk to people that are not connected to your bank. Plus when you try to return the call the number they call from is not a working numb... Read More Reviews (2)
Liberty National Bank	0.90%	$100,000	-	Learn More Add Review
Campbell County Bank, Inc.	0.85%	$10,000	-	Learn More Add Review
Central Bank	0.85%	$100,000	-	Learn More Add Review
Plains Commerce Bank	0.80%	$1,000	-	Learn More Add Review
Sunrise Bank Dakota	0.80%	$500	-	Learn More Add Review
1st Financial Bank USA	0.80%	$10,000	-	Learn More Add Review
Ipswich State Bank	0.80%	$10,000	-	Learn More Add Review
Security State Bank	0.80%	$10,000	-	Learn More Add Review
Liberty National Bank	0.80%	$10,000	-	Learn More Add Review
Great Plains Bank	0.75%	$100,000	-	Learn More Add Review
The Farmers State Bank of Turton	0.70%	$10,000	-	Learn More Add Review
Farmers and Merchants State Bank	0.70%	$10,000	-	Learn More Add Review
BankStar Financial	0.70%	$100,000	-	Learn More Add Review
Great Plains Bank	0.65%	$1,000	-	Learn More Add Review
Western Dakota Bank	0.65%	$10,000	-	Learn More Add Review
CorTrust Bank National Association	0.65%	$10,000	-	Learn More Add Review
BankNorth	0.65%	$10,000	-	Learn More Add Review
The Farmers and Merchants State Bank	0.65%	$10,000	-	Learn More Add Review
Bryant State Bank	0.65%	$10,000	-	Learn More Add Review
First PREMIER Bank	0.60%	$500	-	Learn More Add Review
First Western Federal Savings Bank	0.60%	$10,000	-	Learn More Add Review
American Bank & Trust	0.60%	$10,000	-	Learn More Add Review
First National Bank in Philip	0.60%	$1,000	-	Learn More Add Review
Dacotah Bank	0.60%	$10,000	-	Learn More Add Review
Farmers State Bank	0.60%	$100,000	-	Learn More Add Review
BankStar Financial	0.60%	$10,000	-	Learn More Add Review
Central Bank	0.60%	$10,000	-	Learn More Add Review
Premier Bank	0.60%	$10,000	-	Learn More Add Review
BankWest, Inc.	0.55%	$10,000	-	Learn More Add Review
Pioneer Bank & Trust	0.55%	$100,000	-	Learn More Add Review
Heartland State Bank	0.55%	$10,000	-	Learn More Add Review
Quoin Financial Bank	0.55%	$10,000	-	Learn More Add Review
Black Hills Community Bank, N.A.	0.55%	$100,000	-	Learn More Add Review
Cornerstone Bank	0.55%	$10,000	-	Learn More
dionpayne \| Jun 28, 2017 showmethreethousanddollars Read More Reviews (1)
Farmers State Bank	0.50%	$500	-	Learn More Add Review
Security First Bank	0.50%	$10,000	-	Learn More Add Review
Black Hills Community Bank, N.A.	0.50%	$10,000	-	Learn More Add Review
First Savings Bank	0.50%	$10,000	-	Learn More
dionpayne \| Jun 28, 2017 showmefivethousanddollars Read More Reviews (1)
The Security State Bank	0.50%	$10,000	-	Learn More Add Review
Security National Bank of South Dakota	0.50%	$10,000	-	Learn More Add Review
Pioneer Bank & Trust	0.45%	$10,000	-	Learn More Add Review
First Fidelity Bank	0.45%	$10,000	-	Learn More Add Review
First Bank & Trust	0.45%	$10,000	-	Learn More
BLONDEDOG \| Jan 12, 2023 Everything will be fine until you have a problem with a charge. I have been disputing an unauthorized charge for nine months without any resolution. I haven't been presented any evidence in that time that ... Read More Reviews (2)
Commercial State Bank, of Wagner	0.45%	$10,000	-	Learn More Add Review
First National Bank	0.40%	$10,000	-	Learn More Add Review
First Dakota National Bank	0.40%	$10,000	-	Learn More Add Review
Bank Midwest	0.40%	$10,000	-	Learn More Add Review
The First National Bank in Sioux Falls	0.36%	$100,000	-	Learn More Add Review
The First National Bank in Sioux Falls	0.34%	$10,000	-	Learn More Add Review
First Interstate Bank	0.20%	$10,000	-	Learn More
kmills \| Nov 15, 2019 If you have a choice don't use these people for an auto loan. I called and got the loan pay off which I submitted electronically. I hadn't gotten any lean clearance info so I called. They said they held... Read More Reviews (2)
Farmers State Bank of Canton	0.18%	$10,000	-	Learn More Add Review
KeyBank National Association	0.05%	$2,500	-	Learn More
Rate History: 0.01% → 0.05%
Seeko \| Mar 28, 2023 On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More Reviews (2)
U.S. Bank National Association	0.05%	$500	-	Learn More
Ugg \| Jun 12, 2023 US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More Reviews (2)
PNC Bank, National Association	0.03%	$25,000	-	Learn More
GAM \| May 18, 2019 Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More Reviews (1)
Bank of America, National Association	0.03%	$100,000	-	Learn More
Treasure \| Jul 24, 2023 BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More Reviews (7)

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

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BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Two Year CDs - Branch Banks 2024

Two year CDs, also know as 24 month CDs are an intermediate term product that commits a depositor to keeping their money in the bank for 24 months in return for a fixed rate of return during that period. All two year CDs shown on BestCashCow are FDIC insured.

While two year CDs commit a person to locking their money in for double the time of a 12 month CD, the rate is not double. As a result, a depositor should think about whether the extra rate is worth the extra time commitment.

In general, if rates are rising, it makes sense not to lock up money for an extended period of time.

If rates are falling, then it makes sense to put money into a longer-term instrument to lock-in a higher rate.

Many find opening CDs at local bank is often easier than online. In a branch, a depositor can sign CD documents and initiate a CD in person, and can often get it done faster than mailing a check or initiating a wire transfer in order to get their money to an online bank. Many also appreciate the opportunity to interact face to face with a real human being as opposed to by phone or instant messaging.

The advantages of a two year branch CD are:

A higher rate than 12 month CDs in return for leaving the money in the bank longer.
A fixed rate during the 24 month period.
A generally higher rate for the same term than what can be found in a branch-based bank.
FDIC insurance.
Convenience of opening and managing the CD online.

The disadvantages of a two year branch CDs are:

Rates are generally lower than on the top online savings and CD accounts.
Money is tied up for two years. Removing it early results in significant penalties.
Opening online can often take several days. Problems must be handled online or via the phone as there is no branch.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

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South Dakota CD Rates – 2-Year

PRODUCT INFORMATION

Two Year CDs - Branch Banks 2024

The advantages of a two year branch CD are:

The disadvantages of a two year branch CDs are:

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