5.55% 17-Month / 5.40% 7-Month CD at Security Savings Bank

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Update 12/15/09: Security Savings Bank no longer offers CDs to customers outside their local market. Also note, rates have fallen. Please check the bank's website for the latest rates.

Security Savings Bank, FSB continues to offer some high yield promotional CDs. The highest rate is 5.55% APY for a 17-month term. The other special certificate is a 5.40% APY 7-month CD. These have a minimum deposit of $500 and a maximum deposit of $100K. They are also available as an IRA CD. There's also a promotional money market account rate of 4.50% for deposits of $10K and above.

[Update 5/15/07: Reader reported being told by the CSR that they are not taking online applications for these CDs. I would recommend to call if you're interested in these CDs.]

After I had mentioned these rates in March, a reader looked into this bank and found that they do accept out-of-state deposits. I called yesterday and confirmed that these promotional rates are still available including for those out-of-state. One thing I missed when I first posted this deal is their online CD application. 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 Cert. # 30898).
Comments
PaulH
PaulH (anonymous)   |     |   Comment #1
I think this bank (Security Savings) is playing games. I called them and they say they can't take online applications for their CDs. HOW CONVENIENT.
Banking Guy
Banking Guy (anonymous)   |     |   Comment #2
Thanks for reporting this.

I've seen many small banks change their policies if they get too much demand. Perhaps that is what happened.
John
John (anonymous)   |     |   Comment #3
They may have changed their practice. But earlier this month, I began the online application for their 17 month CD and just completed it in the past few days. Everything went smoothly then.
4.01% 21-Month / 3.76% 17-Month CD at a Kansas Bank - Add-On Feature (Security Savings).
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....



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2.47% 17-Month CD at Security Savings Bank in Kansas
Update 12/15/09: Security Savings Bank no longer offers CDs to customers outside their local market.

Update 12/05/09: Rates have changed. Please check the bank's website for the latest rates.

Security Savings Bank has a competitive 17-month CD and IRA CD special with a 2.47% APY. Their 7-month special is not quite as competitive with a 1.77% APY. Minimum deposit is $500. These rates are listed in the bank's rate table as of 7/30/09.

I contacted the bank today, and I was told that they can open a CD even for those out of...





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5.55% 17-Month / 5.40% 7-Month CD at a Kansas Bank (Security Savings)
Security Savings Bank, FSB has some high yield promotional CDs. These include a 5.55% APY 17-month CD and a 5.40% APY 7-month CD. The minimum deposit is $500 and the maximum deposit is $100K. These are also available as an IRA CD. There's also a promotional money market account rate of 4.50% for deposits of $10K and above.

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 (Certificate # 30898).

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