Saving for your retirement, a vacation, or an emergency fund?

At Second Federal, we’re focused on helping our depositors achieve their financial goals. That’s why we offer a range of account options for life’s unexpected events. Our savings accounts are designed with high-interest rates and with terms to give you peace of mind.

Passbook Savings

Our Passbook Savings account makes it easy to begin saving. With a 0.15% APY2 and no fees to worry about, you can withdraw and make deposits whenever you like. All of our savings accounts come with the security of FDIC insurance too, with coverage of up to $250,000 for each depositor1.

Account Overview
  • Unlimited withdrawals and deposits
  • $100 minimum opening deposit
  • $0 monthly service fees
Open Account

Money Market Savings

Open a Second Federal Money Market Savings account with any balance over $500. You’ll earn a better interest rate of 0.35% APY2. And you get up to six penalty-free withdrawals per month.

Account Overview
  • 6 penalty-free withdrawals per month
  • Higher yield2
  • $0 monthly service fees
  • Unlimited deposits
Open Account

Certificates of Deposit

Our CD comes with the benefits of our highest interest rates2. All Certificate of Deposit accounts have no monthly fees, and a low minimum opening deposit of only $500. A longer CD term will earn you more. Rates are fixed through maturity, but there are penalties for early withdrawals. Once your CD matures, we’ll help you roll it over to keep your savings growing.

Account Overview
  • 6-month CD – 1.20% APY2
  • 12-month CD – 1.50% APY2
  • 18-month CD – 1.65% APY2
  • 24-month CD – 1.80% APY2
  • 30-month CD – 1.95% APY2
  • 36-month CD – 2.10% APY2
  • 48-month CD – 2.35% APY2
  • 60-month CD – 2.60% APY2
Open Account

Traditional IRAs

If you’re eligible to establish and contribute to a tax-advantaged retirement account, our Traditional IRA can be a good choice. There are annual contribution limits and you may roll over or transfer to and from other Traditional IRAs or qualified employer-sponsored plans. Investment growth is tax deferred, so you won’t pay federal income taxes on your deductible contributions or any earnings until you withdraw money on or after age 59 and a half5. Consult your tax advisor before opening an account.

Account Overview
  • Interest rates as high as 1.65%2
  • $500 minimum opening deposit
  • $0 monthly service fees
  • Penalty-free widthdrawals after age 59.5
Open Account
Passbook Savings Money Market Savings Certificates of Deposit Traditional IRAs
FDIC Insurance Protection1
Deposits Unlimited Unlimited
Competetive interest rates 0.15% APY2 0.35% APY2 1.20% to 2.60% APY2 1.65% APY2
Minimum opening deposit $100 $500 $500 $500
Monthly service fee $0 $0 $0 $0
Penalty-free withdrawals Unlimited 6 per month 3 After age 59.54
Open Account Open Account Open Account Open Account
  1. FDIC insurance: all savings accounts are covered up to the maximum amount allowed by law.
  2. Rates are subject to change at any time without notice. APY stands for Annual Percentage Yield.
  3. Rates are subject to change at any time without notice. APR stands for Annual Percentage Rate.
  4. Penalties for early withdrawals apply.
  5. The information on this site is not intended to provide legal, tax, accounting, or investment advice. Consult a qualified advisor for advice specific to your circumstances.