CD Rates Summit, South Dakota (SD) for April 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Summit, South Dakota CD rates include Minnwest BankMinnwest Bank401 Maple St, Summit, SD 57266A5.0 ★Texas Ratio: 8.82%Real return: +0.40%APY minus CPI (February 2026) offering 12 Month Digital CD at 3.20% APY, Dakota Community Bank & TrustDakota Community Bank & TrustA+5.0 ★Texas Ratio: 0.89%Real return: +1.14%APY minus CPI (February 2026) offering IRA 60 MONTH at 3.94% APY, Sunrise Banks National AssociationSunrise Banks National AssociationA+5.0 ★Texas Ratio: 2.86%Real return: +1.00%APY minus CPI (February 2026) offering 6-month CDs at 3.80% APY, American Bank & TrustAmerican Bank & TrustA+5.0 ★Texas Ratio: 2.47%Real return: +0.90%APY minus CPI (February 2026) offering 6-Month CD/IRA-CD at 3.70% APY, and SNB Security National Bank of SDSNB Security National Bank of SDA+5.0 ★Texas Ratio: 0.00%Real return: +0.85%APY minus CPI (February 2026) offering 6 Month Certificates of Deposit (CDs) at 3.65% APY. CD rates as of April 13, 2026 according to verified data from MonitorBankRates.
Summit has 2 local institutions in our database, with CD rates as high as 3.20% APY from Minnwest Bank at 401 Maple St, Summit, SD 57266. Use the tables below to compare all available CD terms and offers, including options from institutions serving the broader South Dakota area. Rates are continually updated — we recommend checking back frequently.
The Annual Percentage Yields (APYs) displayed reflect actual verified offers from top-rated institutions. Rates are subject to change at the institution's discretion without notice and may depend on your initial funding amount. A substantial penalty may be imposed for early withdrawal, which could reduce earnings on the account. CD Rates Last Updated and Verified: April 13, 2026
Compare Best CD Rates in Summit, South Dakota & the Surrounding Area
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Summit, SD CD Rate Trends
Compare local Summit, SD CD rate quotes against the statewide average
Daily CD rate averages tracked across our database of 8,500+ banks and credit unions — updated every evening.
South Dakota 12-month CD rates currently average 2.722% APY based on data from institutions in our monitoring network.
South Dakota 6-month CD rates currently average 2.452% APY based on data from institutions in our monitoring network.
SD CD Rate Forecast — Next 12 Months
Where are South Dakota CD rates headed through April 2027?
Projections based on Fed funds rate futures and historical CD-to-fed-funds spread model. Not financial advice.
What Your Savings Earn at SD CD Rates Today
Annual interest earnings at today’s South Dakota average APYs. State average used where available; national average as fallback.
| CD Term | SD Avg APY | $5,000 | $10,000 | $25,000 | $50,000 |
|---|---|---|---|---|---|
| 3-Month CD | 1.624% | $81.19 | $162.37 | $405.93 | $811.85 |
| 6-Month CD | 2.452% | $122.61 | $245.22 | $613.05 | $1,226.10 |
| 12-Month CD | 2.722% | $136.11 | $272.21 | $680.53 | $1,361.05 |
| 18-Month CD | 2.947% | $147.37 | $294.73 | $736.83 | $1,473.65 |
| 24-Month CD | 3.013% | $150.67 | $301.34 | $753.35 | $1,506.70 |
| 36-Month CD | 2.988% | $149.41 | $298.82 | $747.05 | $1,494.10 |
| 48-Month CD | 2.974% | $148.71 | $297.41 | $743.53 | $1,487.05 |
| 60-Month CD | 2.978% | $148.89 | $297.78 | $744.45 | $1,488.90 |
| Earnings shown are annualized (APY basis). Actual earnings for sub-12-month terms will be proportionally lower at maturity. Rates as of April 13, 2026. | |||||
Sample CD Ladder for Summit, South Dakota Savers
$25,000 split equally across 5 terms using today’s South Dakota average rates. As each CD matures, reinvest at the 36-month rung.
| Rung | Term | Deposit | SD Avg APY | Annual Earnings |
|---|---|---|---|---|
| 1 | 3-Month CD | $5,000 | 1.624% | $81.19 |
| 2 | 6-Month CD | $5,000 | 2.452% | $122.61 |
| 3 | 12-Month CD | $5,000 | 2.722% | $136.11 |
| 4 | 24-Month CD | $5,000 | 3.013% | $150.67 |
| 5 | 36-Month CD | $5,000 | 2.988% | $149.41 |
| Total ($25,000 invested) | $25,000 | 2.560% blended | $639.99/yr | |
Ladder example uses equal $5,000 rungs and South Dakota average APYs. Actual earnings depend on the specific institution and product chosen. Use the calculator above to model your exact deposit amounts.
in Summit, South Dakota
About Our Summit, South Dakota CD Rate Database
MonitorBankRates tracks CD rates from 14 banks and 2 credit unions with locations in Summit, South Dakota, plus national online institutions available to South Dakota residents. Our proprietary aggregation system pulls verified rate data directly from each institution’s official website — no estimates, no national averages passed off as real offers.
Every rate listed includes the institution’s Safety Grade (A+ to F), Star Rating (1–5), and Texas Ratio — objective financial health metrics calculated from FDIC and NCUA regulatory data — so you can compare yield and institutional safety in one place.
Current top rate: Minnwest Bank offers a CD at 3.20% APY with a minimum deposit of $1,000. Use the rate table above to compare all current offers in Summit, South Dakota.
How to Find the Best CD Rates in Summit, South Dakota
What to compare when shopping for a CD in Summit, South Dakota
To find the best APYs in Summit, South Dakota, start with credit unions and online-only banks — Summit, South Dakota has 2 credit unions in our database, and they consistently offer some of the highest yields because they have lower overhead than traditional banks and compete aggressively for deposits.
Always compare the APY (Annual Percentage Yield), not just the interest rate. The APY reflects compounding and is the true measure of what you’ll earn.
Also compare the early withdrawal penalty. Common penalties range from 30 to 180 days of interest depending on the term. If you’re unsure whether you’ll need the funds early, a no-penalty CD or a high-yield savings account may be a better fit.
When a CD Makes Sense in Summit, South Dakota
- You have a planned expense coming up and want your savings to earn while you wait
- You expect rates to fall and want to lock in today’s rate
- You want FDIC or NCUA protection with a guaranteed fixed return
- You prefer banking with an institution that has a local branch in Summit, South Dakota — 16 institutions here report CD rates
Consider an Alternative If…
- You may need funds within 30 days → Summit, South Dakota savings rates
- Rates are rising and you want to benefit → Variable-rate savings or MMA
- You want check-writing access → Summit, South Dakota money market rates
South Dakota Financial Snapshot
Local demographics and economic context for CD savers — Source: U.S. Census Bureau ACS 2024 (state-level data shown — city data not available)
18.0% of residents are 65 or older, in line with the national average of 17.3%; a low unemployment rate of 2.9% reflects a strong local economy. At today’s SD 12-month CD average of 2.722%, saving 10% of the local median salary ($4,337/year) and putting it in a CD would earn an additional $118 annually in interest.
Data: U.S. Census Bureau, American Community Survey 5-Year Estimates 2024. Median earnings from ACS 2023 place-level estimates.
CD Rates vs. Other Savings Options in Summit, South Dakota
What to compare when choosing between a CD and other deposit accounts
| Feature | CD | High-Yield Savings | Money Market | 6-Month CD |
|---|---|---|---|---|
| Rate Type | Fixed APY | Variable APY | Variable APY | Fixed APY |
| Liquidity | Locked for term | Anytime | Anytime | Locked 6 months |
| Early Withdrawal | Penalty (months of interest) | None | None | Penalty (90–180 days interest) |
| FDIC / NCUA Insured | Yes (up to $250K) | Yes (up to $250K) | Yes (up to $250K) | Yes (up to $250K) |
| Check / Debit Access | No | Usually no | Often yes | No |
| Best For | Known savings goal, CD ladder | Emergency fund, flexible savings | Liquid savings with check-writing | Slightly higher yield, less urgency |
Frequently Asked Questions about CD Rates in Summit, South Dakota
Are CD rates in Summit, South Dakota FDIC insured?
Do I have to pay state taxes on CD interest in Summit, South Dakota?
Can I withdraw my money early from a CD?
What is the difference between a Jumbo CD and a regular CD?
Are fixed-rate CDs better than variable-rate CDs?
What is a CD ladder?
Best CD rates in Summit, South Dakota?
- Minnwest Bank: 3.20% APY (12 Month Digital CD)
- Dakota Community Bank & Trust: 3.94% APY (IRA 60 MONTH)
- Sunrise Banks National Association: 3.80% APY (6-month CDs)
- American Bank & Trust: 3.70% APY (6-Month CD/IRA-CD)
- SNB Security National Bank of SD: 3.65% APY (6 Month Certificates of Deposit (CDs))
- OAB One American Bank: 3.60% APY (IRA Certificate of Deposit 12 Month)
- Commercial State Bank, of Wagner: 3.54% APY (Certificates of Deposit 48-Month)
- CorTrust Bank: 3.50% APY (1 Year Certificates of Deposit)
- First National Bank in Philip: 3.45% APY (4 Year Certificate of Deposit)
- Bank Midwest: 3.45% APY (24-Month Certificate of Deposit)
CD Calculators for Summit, South Dakota
At today’s SD top rate of 3.20% APY, a $10,000 deposit earns $320 in the first year. Enter your amount to see your exact return.
Summit, South Dakota CD LadderSD CD rates currently range from 1.624% (3-month) to 2.988% (36-month). Model a ladder with local rates to keep cash accessible while maximizing yield.
Early Withdrawal PenaltyBefore locking into a Summit, South Dakota CD at 3.20% APY, know your exit cost. Most institutions charge 90–180 days of interest — calculate your real net return if you need early access.
CD vs. High-Yield SavingsSouth Dakota’s average 12-month CD is 2.722% APY. Compare locking in that rate against a flexible high-yield savings account to see which earns more for your deposit and timeline.
Methodology & Data Sources
Direct-Sourced & Verified CD Rate Data: We aggregate certificate of deposit (CD) rates for Summit, South Dakota directly from the official websites of banks and credit unions using our proprietary rate aggregation technology and a dedicated team of rate updaters. By pulling data straight from the institutions' own digital properties and manually verifying yields daily, every rate on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available yields in Summit, South Dakota. We feature a comprehensive mix of institutions — from neighborhood credit unions and competitive regional banks to high-yield CDs from large national institutions available to savers in SD.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update CD rates daily. Because yields can fluctuate rapidly, every CD product listed features its own specific “last updated” date for full transparency.
