Dedicated to Deposits: Deals, Data, and Discussion

4.01% 21-Month / 3.76% 17-Month CD at a Kansas Bank - Add-On Feature (Security Savings).

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Security Savings Bank FSB
Update 12/15/09: Security Savings Bank no longer offers CDs to customers outside their local market.

Update 6/28/08: These special CDs have ended. Check the bank's website for the latest rates and specials.

Security Savings Bank has some competitive CD specials. These include a 4.01% APY 21-month CD, a 3.76% APY 17-month CD and a 3.51% APY 13-month CD. The minimum deposit is $500, and the maximum deposit is $100,000 per customer. There's also a special add-on feature that allows a one-time add-on deposit during the term. The minimum add-on amount is $5,000. These are also available in an IRA.

I last reported on this bank in May 2007. At that time the bank gave conflicting information regarding whether out-of-state people could open these promotional CDs via their online CD application. So before using this online application, I would recommend to call the bank.

The online application allows selection of POD and Trust account ownerships and it allows funding by either wire transfer or by ACH from a checking or savings account. The bank doesn't seem to allow the funds to be ACH back into the funding account when the CD matures. The service rep said the typical options are to receive a cashiers check by certified mail or by wire transfer ($15 outbound fee).

Branches are located in the Kansas cities of Wichita, Salina, Olathe, McPherson, Leawood, Holcomb and Garden City. The bank has been FDIC insured since 1957 (FDIC Certificate # 30898).
  Tags: Kansas, Security Savings Bank FSB, CD rates

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