Best 6-Month CD Rates in South Dakota, SD

You are viewing rates from banks across South Dakota

Below are the best six-month CD Rates from banks with branches in South Dakota. Six-month CDs are considered short-term cds and the yield is comparable to savings and money market rates. You may want to consider opening a 6 month CD if you are concerned about savings rates dropping and don’t mind locking up your money for six months.

SD - November 27, 2024

6 Month CD National Average : 0.41% ^?

Banks	APY	MIN	MILES ^?
Heritage Bank National Association	5.06%	$2,000	-	Learn More
Rate History: 0.14% → 0.18% → 5.50% → 5.30% → 5.06%
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)
My e-Banc, a division of Bradesco BAC Florida Bank	4.50%	$5,000	-	Learn More Add Review
Rate History: 5.30% → 5.40% → 5.20% → 5.05% → 4.50%
Matty H \| Sep 22, 2023 Terrible bank. Terrible service. Not equipped to service customers outside Florida. Plays games with your taxes by issuing 1090s whenever. Really shouldn't be on this list or your radar. Avoid. Read More
TD Bank, National Association	4.50% 1.00%	$10,001 $10,000	-	Learn More
Rate History: 5.00% → 4.50%
Turonemckinney17@gmail.com \| May 19, 2018 Experience Read More Reviews (1)
Banesco USA	4.50%	$1,000	-	Learn More
Early Withdrawal Penalty is 90 days interest. Rate History: 5.10% → 5.25% → 5.20% → 5.00% → 4.50%
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)
Bask Bank, a division of Texas Capital Bank	4.45%	$1,000	-	Learn More Add Review
Early Withdrawal Penalty is 90 days interest. Rate History: 5.10% → 5.00% → 4.80% → 4.70% → 4.45%
smithy1968 \| Apr 20, 2024 Save your tears for another day. Very frustrating. 1-star. Read More
Hingham Institution for Savings	4.30%	$1,000	-	Learn More Add Review
Rate History: 4.85% → 4.80% → 4.50% → 4.39% → 4.30%
One American Bank	4.25%	$500	-	Learn More
Rate History: 3.80% → 4.25%
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)
Bank of America, National Association	4.00%	$10,000	-	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)
Capital One, National Association	3.90%	$0	-	Learn More
Rate History: 4.35% → 4.25% → 4.20% → 4.00% → 3.90%
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)
Citibank, National Association	3.50%	$500	-	Learn More
Rate History: 0.05% → 4.75% → 4.65% → 3.75% → 3.50%
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)
USAA Federal Savings Bank	3.45%	$1,000	-	Learn More
Rate History: 5.25% → 4.65% → 4.55% → 3.45%
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)
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)
Bank of Whittier, National Association	3.33%	$1,000	-	Learn More Add Review
Wells Fargo Bank, National Association	2.01% 2.00%	$100,000 $25,000	-	Learn More
Rate History: 2.50% → 2.51% → 2.01%
Thy King \| Feb 6, 2023 after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with... Read More Reviews (7)
JPMorgan Chase Bank, National Association	1.50%	$10,000	-	Learn More
Rate History: 3.00% → 2.00% → 1.50%
Hayley7788d@outlook.com \| Jan 2, 2023 Terrible customer service by investment side. Fees too high , too full of themselves Read More Reviews (18)
Ipswich State Bank	0.95%	$100,000	-	Learn More Add Review
Frontier Bank	0.85%	$50,000	-	Learn More Add Review
Community Bank	0.85%	$10,000	-	Learn More Add Review
Central Bank	0.75%	$100,000	-	Learn More Add Review
Frontier Bank	0.65%	$10,000	-	Learn More Add Review
Liberty National Bank	0.60%	$100,000	-	Learn More Add Review
1st Financial Bank USA	0.55%	$10,000	-	Learn More Add Review
Security State Bank	0.55%	$10,000	-	Learn More Add Review
Merchants State Bank	0.50%	$10,000	-	Learn More Add Review
BankStar Financial	0.50%	$100,000	-	Learn More Add Review
Liberty National Bank	0.50%	$10,000	-	Learn More Add Review
Premier Bank	0.50%	$10,000	-	Learn More Add Review
Great Plains Bank	0.45%	$100,000	-	Learn More Add Review
Sunrise Bank Dakota	0.45%	$500	-	Learn More Add Review
Campbell County Bank, Inc.	0.45%	$10,000	-	Learn More Add Review
Ipswich State Bank	0.45%	$10,000	-	Learn More Add Review
American State Bank	0.45%	$100,000	-	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)
Plains Commerce Bank	0.40%	$1,000	-	Learn More Add Review
CorTrust Bank National Association	0.40%	$10,000	-	Learn More Add Review
Farmers State Bank	0.40%	$100,000	-	Learn More Add Review
The Farmers and Merchants State Bank	0.40%	$10,000	-	Learn More Add Review
Farmers and Merchants State Bank	0.40%	$10,000	-	Learn More Add Review
BankStar Financial	0.40%	$10,000	-	Learn More Add Review
Richland State Bank	0.40%	$10,000	-	Learn More Add Review
Great Plains Bank	0.35%	$1,000	-	Learn More Add Review
First Western Federal Savings Bank	0.35%	$10,000	-	Learn More Add Review
American Bank & Trust	0.35%	$10,000	-	Learn More Add Review
Pioneer Bank & Trust	0.35%	$100,000	-	Learn More Add Review
The Security State Bank	0.35%	$10,000	-	Learn More Add Review
Bryant State Bank	0.35%	$10,000	-	Learn More Add Review
American State Bank	0.35%	$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)
Western Dakota Bank	0.30%	$10,000	-	Learn More Add Review
First Fidelity Bank	0.30%	$100,000	-	Learn More Add Review
Heartland State Bank	0.30%	$10,000	-	Learn More Add Review
Quoin Financial Bank	0.30%	$10,000	-	Learn More Add Review
BankNorth	0.30%	$10,000	-	Learn More Add Review
Cornerstone Bank	0.30%	$10,000	-	Learn More
dionpayne \| Jun 28, 2017 showmethreethousanddollars Read More Reviews (1)
First National Bank in Philip	0.25%	$1,000	-	Learn More Add Review
State Bank of Eagle Butte	0.25%	$10,000	-	Learn More Add Review
First Bank & Trust	0.25%	$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)
Farmers State Bank	0.20%	$2,500	-	Learn More Add Review
Dacotah Bank	0.20%	$10,000	-	Learn More Add Review
Security First Bank	0.20%	$10,000	-	Learn More Add Review
Farmers State Bank	0.20%	$10,000	-	Learn More Add Review
The Farmers State Bank of Turton	0.20%	$10,000	-	Learn More Add Review
First Savings Bank	0.20%	$10,000	-	Learn More
dionpayne \| Jun 28, 2017 showmefivethousanddollars Read More Reviews (1)
The First National Bank in Sioux Falls	0.18%	$100,000	-	Learn More Add Review
The First National Bank in Sioux Falls	0.17%	$10,000	-	Learn More Add Review
First Dakota National Bank	0.15%	$10,000	-	Learn More Add Review
First Fidelity Bank	0.15%	$10,000	-	Learn More Add Review
Black Hills Community Bank, N.A.	0.15%	$100,000	-	Learn More Add Review
Commercial State Bank, of Wagner	0.15%	$10,000	-	Learn More Add Review
Andes State Bank	0.15%	$500	-	Learn More Add Review
Farmers State Bank of Canton	0.15%	$10,000	-	Learn More Add Review
Security National Bank of South Dakota	0.15%	$10,000	-	Learn More Add Review
First National Bank	0.12%	$10,000	-	Learn More Add Review
First PREMIER Bank	0.10%	$500	-	Learn More Add Review
First Interstate Bank	0.10%	$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)
Pioneer Bank & Trust	0.10%	$10,000	-	Learn More Add Review
Black Hills Community Bank, N.A.	0.10%	$10,000	-	Learn More Add Review
KeyBank National Association	0.05%	$2,500	-	Learn More
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)
Bank Midwest	0.05%	$10,000	-	Learn More Add Review
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)

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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PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2024

Six month certificates of deposit (CDs) provide depositors with a short term vehicle for keeping money safe and earning interest. With a six month CD, depositors agree to leave their money in the account for six months in return for a fixed rate of interest over this period. While it is possible to withdraw the money earlier (breaking the CD) doing so comes with high interest penalties and is generally not advised.

In general, almost all brick-and-mortar banks provide CDs to their consumers. Opening one involves taking a trip to the branch although some banks allow CDs to be opened via the phone or online. In general, local banks discourage depositors from out-of-state to open accounts, although this is not a hard rule and if you see an attractive rate from a bank in another state, it is worth investigating the account opening policy. Online banks generally offer better rates on six month CDs but the accounts must be opened online. View online bank rates.

The advantages of six month CDs opened via a traditional bank are:

Funds deposited in FDIC banks and within insurance limits are protected by the full faith and credit of the United States government.
CDs provide a predictable, set rate of return.
Depositors can walk into a local branch and open the CD and fund it that day. Question and inquiries can also be handles in-person.

The disadvantages of six month CDs are:

Six month CDs currently pay interest rates significantly below many online and branch-based savings and money market accounts.
The deposited money is committed for six months.
Six month CDs from traditional banks often pay less interest than from online banks.

When interest rates are falling, it is often preferable to lock in high rates for an extended period of time with a longer-term CD. When interest rates are rising, depositors should avoid committing their money for long periods of time. To see interest rate trends, visit the BestCashCow rate analysis page.

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 – 6-Month

PRODUCT INFORMATION

6 Month Branch Certificates of Deposit 2024

The advantages of six month CDs opened via a traditional bank are:

The disadvantages of six month CDs are:

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