Certificate of Deposit

Safe and secure, CDs offer an ideal investment for those who want a higher yield with lower risk. At The First National Bank in Sioux Falls, you have options.

Renewable CD

For a guaranteed interest rate and flexible term options, choose a renewable CD.

  • $1,000 minimum balance.
  • Interest can be credited monthly, quarterly, semi-annually or annually.
  • Deposits/withdrawals only on maturity date and within grace period.
  • Automatic renewal at maturity. (Ten-day grace period to make transactions.)
  • Interest will not be compounded for CDs with terms of one year or less.
  • Interest will be compounded annually for CDs with terms of one year or more.
  • Interest calculated with daily balance method that applies a periodic rate to principal in the account each day.
  • Interest begins to accrue on non-cash deposits (i.e. checks) no later than one business day after we receive credit.
  • Penalty for early withdrawal:

    CD Term

    Early Withdrawal Penalty

    30-90 days

    31 days simple interest

    91-364 days

    91 days simple interest

    365 days and longer

    182 days simple interest

 

Non-Renewable CD

Meet your short-term investment goals and get competitive interest rates with a non-renewable CD.

  • $100,000 minimum balance.
  • Interest credited at maturity.
  • Interest will not compound during the term of the CD.
  • If account is closed before maturity, no interest will be earned.
  • Deposits/withdrawals on maturity date only.
  • Interest calculated with daily balance method that applies a periodic rate to principal in the account each day.
  • Interest begins to accrue on non-cash deposits (i.e. checks) no later than one business day after we receive credit.
  • If principal is withdrawn before maturity date, we may impose a penalty equaling the accrued interest, with a minimum of seven days interest. The principal amount may be reduced to pay the penalty.

View Fees and Charges
View Current Rates