South Dakota

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South Dakota CD Rates – 5-Year

You are viewing rates from banks across South Dakota





Below are 5-year CD Rates from banks that are located in South Dakota. Five-Year Certificates of Deposit (CD) are generally the longest term CD that most banks will offer. They tend to offer the highest rates but require the longest commitment. Five year CDs are especially popular in a declining interest rate environment as depositors can lock money in at the highest rate possible for the longest period of time. They are also popular with depositors who are willing to lock up money for five years in return for extra yield.

SD - July 30, 2025

5 Year CD National Average : 0.92% ?

Banks APY MIN MILES ?

Early Withdrawal Penalty is 730 days interest.
Rate History: 4.10% → 4.20% → 4.15% → 4.05% → 4.20%

| Dec 18, 2023

I submitted a CD application 18 months 5.50 APY over a week ago and my application was declined no reason was given, I have the funds in another bank for transfer, credit score over 800. I think the reason... Read More

Rate History: 4.00% → 4.15%

| Oct 23, 2023

Synchrony Bank recently closed 3 of my accounts with them and this decision was completely unwarranted. I had two Guitar Center cards and one Levin Furniture card. I found out about this through a push not... Read More

Warning: Early Withdrawal Penalty is 2% of the account balance.
Rate History: 4.20% → 4.15% → 4.10% → 3.95% → 4.05%

| Jul 3, 2023

A 2% early withdrawal fee on a 1-year CD is almost equally insane as a 270 day one. Read More

Early withdrawal penalty is 365 days interest.
Rate History: 3.90% → 3.80% → 3.50% → 3.90% → 4.00%

| Jul 4, 2025

Bread's current 6-month CD is 4.45%, not 4.35%. Read More

Rate History: 3.05% → 3.50% → 4.11% → 4.00%

| Mar 21, 2023

Parent seems to be owned by a large Chilean bank. Not saying this is good or bad, but it is complication, especially in the current environment. Read More

Early Withdrawal Penalty is 90 days interest.
Rate History: 4.00% → 3.75% → 3.25% → 3.75% → 4.00%

| May 6, 2023

Fully functional bank account that would be great for my needs, but the quarterly interest payment thing is a real nuisance. I wish they would change it. It isn't market. Read More

Early Withdrawal Penalty is 360 days interest.
Rate History: 4.24% → 4.09% → 3.67% → 3.65% → 3.97%

| Jan 30, 2024

Have an IRA rollover, they don't take IRAs any longer. Read More

Early Withdrawal Penalty is 90 days interest.
Rate History: 3.00% → 4.11%

| Jul 1, 2022

Very easy opening process and wonderful staff. Read More

Early Withdrawal Penalty is 6 Months' Interest.
Rate History: 4.35% → 4.00% → 3.80%

| Jul 1, 2022

not really an onllne bank. compare this interface that gives you no information with that of any other bank (I cannot even confirm the rate). cannot switch in and out of cds or np cds. just not an online b... Read More

Rate History: 4.00% → 3.85% → 3.75% → 3.80%

| Aug 2, 2023

Sallie mae is just a horrible institution. We've done business with them before and swore on the holy bible not to go near there again, but a 18 mos cd at 5.55% brought us back. Read More

| Aug 31, 2022

never had a problem moving money in/out. After trying a couple banks with higher rates but less service will be moving my money back here. Read More

Rate History: 4.10% → 4.00% → 3.80% → 3.60% → 3.75%

| Feb 15, 2024

best bank on the list but no longer the most competitive Read More

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.00% → 3.75% → 3.25% → 3.81% → 3.75%

| Mar 19, 2022

Problem with ties to puppy mills. I closed a cct. https://www.americanbanker.com/news/tab-bank-dragged-into-seedy-world-of-puppy-mill-loans-by-fintech-partner Read More

Rate History: 3.60% → 3.75% → 3.65% → 1.25% → 3.65%

| Sep 30, 2023

CFG overs very competitive Interest rates on their High Yield Savings account. I did everything ONLINE and have not had any issues with their service. Read More

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.50% → 4.15% → 4.00% → 3.75% → 3.60%

| Nov 21, 2023

A real pain in the *** process to try and get approved! They were unable to match my drivers license photo with my live image after several times trying! Went to limelight bank instead and got approved in ... Read More

Warning: Early withdrawal penalty is 2% of principal

| Dec 22, 2018

I know VirtualBank has monitored these comments in the past and answered here. This is important because they do not respond to questions submitted through the website. I am trying to find out the pena... Read More

Rate History: 3.90% → 3.75% → 3.50% → 3.40% → 3.50%

| Jan 10, 2024

AVOID at all costs. We read the addendum to the final page of the LENGTHY account agreement mailed to us after completing the online portion. Guess what? It gives this sweet seeming Discover Bank access to... Read More

Early withdrawal penalty is one-fourth the amount of interest that would have been earned had CD been held to maturity.
Rate History: 4.00% → 3.90% → 3.65% → 3.45% → 3.50%

| Mar 20, 2025

A non-customer-friendly organization that just switches between two contaminated brands trying to bring back some sort of goodwill that it had before it started selling fake foreign currency CDs in 2006 an... Read More

Early Withdrawal Penalty is 6 months interest.
Rate History: 4.05% → 4.05% → 3.90% → 3.75% → 3.50%

| Mar 15, 2023

Thank you for the reviews above. I was wondering why I was only getting 0.3% when interest rates have gone up. Why CapitalOne360 is putting loyal and long time customers at a disadvantage is beyond me. ... Read More

Rate History: 3.90% → 3.60% → 3.50% → 3.40% → 3.50%

| Aug 13, 2023

Been a customer for a couple of years now with interesting checking, been a happy customer. They give you a $10 reimbursement on atm fees per statement cycle. They pay you to leave your money there curre... Read More

Rate History: 4.00% → 3.90% → 3.75% → 3.50%

| Jan 2, 2024

Like others, I've been with Capital One and its predecessor ING Direct since 2007. I've also been getting cheap bank rates on my savings account and didn't realize that there was something better, although... Read More

Rate History: 4.00% → 3.75% → 3.50%

| Jul 6, 2023

This is an example of a bad bank. Their online process for purchasing a CD is horrible. You fill it out and it rejects it after all of your private information is disclosed. They there customer service is ... Read More

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.00% → 4.00% → 3.40%

| Nov 12, 2022

I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transactio... Read More

Rate History: 2.90% → 3.30%

| Oct 11, 2020

You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pag... Read More

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.15% → 3.75% → 3.50% → 3.75% → 3.25%

| May 2, 2022

Barclays is the worst. Transfer speeds even worse than Synchrony now. Service is worse than anything. Save yourself the trouble of getting sucked into rates that are sometimes competitive and choose anythi... Read More

Early Withdrawal Penalty is 30 months interest.
Rate History: 3.50% → 3.00% → 2.50% → 3.00%

Early Withdrawal Penalty is 180 days interest.
Rate History: 4.10% → 4.00% → 3.90% → 3.60% → 2.85%

| Jun 10, 2024

I guess customer service is in the US (not sure). I'd rather that someone in the Philippines answered though. These people are so poorly trained and ill informed that I do not trust them with my personal... Read More

| Nov 18, 2023

bad bank hold your deposit over months without credit in your account, no interest, they don’t want pay you interest , they want your money with 0% interest. Read More

| Dec 21, 2023

Very easy to setup 6 month 5.35% CD from cornerstone account Read More

Rate History: 3.00% → 2.75%

| Mar 20, 2016

Good solid bank. Read More

| Feb 6, 2021

After purchasing more than 6 homes and going through more than a dozen refinancing processes, I must say that this is the worst company I have ever had the misfortune of dealing with. It took these clowns ... Read More

Rate History: 2.27% → 2.32%

| Nov 3, 2023

site does not update at all, totally wrong rates listed Read More

Rate History: 3.00% → 2.50% → 2.00%

| Apr 25, 2023

with all of these online bank, including the well known ones, delaying transfers forever in order to fund these high rates, this one still executes inbound and outbound transfers immediately. Read More

| Jun 13, 2023

I'll steer clear of Dollar Savings Direct and My Savings Direct until they guarantee users at both online divisions their best rates. Banks have the right to segment their customers yes, but these games w... Read More

Rate History: 2.00% → 3.00% → 2.00% → 3.00% → 2.00%

| Apr 30, 2019

No issues. I feel confident using them. Read More

| Feb 25, 2022

I joined Citi with a Costco-VISA card. An Accelerate followed, and then a checking account. Costco-VISA is necessary for using a credit card at Costco, otherwise cash is necessary. Accelerate Savings w... Read More

Rate History: 2.00% → 2.50% → 2.00%

| Jan 2, 2023

Terrible customer service by investment side. Fees too high , too full of themselves Read More

Rate History: 2.50% → 1.50%

| Nov 28, 2022

While USAA was at one point a great option for all your banking needs, the service has deteriorated so much that I'm currently in the process of changing banks after more than 2 decades. The final straw w... Read More

1.40%

$10,000

-

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Rate History: 1.05% → 1.30%

| May 26, 2017

Before009 Read More

Rate History: 2.50% → 1.25%

| Feb 24, 2020

I had been with USAA for 20 years. Had my checking, savings, auto and renters insurance and 2 credit cards with them. I work in the service industry and make a good portion of my income in cash tips. For 4... Read More

1.25%

$100,000

-

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1.25%

$10,000

-

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1.20%

$1,000

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Rate History: 0.26% → 1.20%

| Nov 2, 2020

Got the account opened after weeks and finally got it funded and then they dropped the rate the next day and it is no longer competitive. Read More

1.19%

$100,000

-

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1.16%

$500

-

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1.15%

$1,000

-

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1.15%

$500

-

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1.14%

$100,000

-

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1.10%

$10,000

-

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| Jun 25, 2020

If you need a simple answer you will have to jump through hoops and talk to people that are not connected to your bank. Plus when you try to return the call the number they call from is not a working numb... Read More

1.09%

$10,000

-

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1.09%

$10,000

-

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1.05%

$10,000

-

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1.05%

$10,000

-

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1.05%

$10,000

-

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1.00%

$10,000

-

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| Jun 28, 2017

showmefivethousanddollars Read More

1.00%

$10,000

-

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1.00%

$10,000

-

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1.00%

$100,000

-

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1.00%

$10,000

-

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| Jun 28, 2017

showmethreethousanddollars Read More

0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.95%

$10,000

-

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0.90%

$10,000

-

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0.90%

$10,000

-

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0.90%

$100,000

-

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0.90%

$10,000

-

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0.85%

$10,000

-

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0.85%

$10,000

-

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0.80%

$10,000

-

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0.80%

$10,000

-

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0.75%

$500

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| Jan 12, 2023

Everything will be fine until you have a problem with a charge. I have been disputing an unauthorized charge for nine months without any resolution. I haven't been presented any evidence in that time that ... Read More

Rate History: 0.25% → 4.32% → 0.75% → 3.03% → 0.75%

| May 21, 2021

avoid this Read More

0.70%

$10,000

-

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0.60%

$10,000

-

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| Aug 28, 2022

Rates are totally uncompetitive now. Read More

0.54%

$100,000

-

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0.52%

$10,000

-

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| Jun 2, 2022

I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a... Read More

| Jun 12, 2023

US Bank reported me to dult Protective Services because my husband is 85 and I am63. He got sick and went into a nursing hime for 3 months. My husband always handled the financial affairs. I had to take ov... Read More

| Nov 15, 2019

If you have a choice don't use these people for an auto loan. I called and got the loan pay off which I submitted electronically. I hadn't gotten any lean clearance info so I called. They said they held... Read More

| Aug 13, 2019

I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one busines... Read More

| Jun 10, 2022

This bank hasn't raised their rates! Maybe I was sleeping but I need to get out of here fast. Read More

0.25%

$10,000

-

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| Mar 28, 2022

Vaporware. Was approved to open an account. I logged in on several different browsers with differing rendering codes--each time got nothing but 3 circles running left to right for up to a half hour when I ... Read More

Rate History: 0.15% → 0.01% → 0.15%

Rate History: 0.03% → 0.05%

| Mar 28, 2023

On line banking gives a confirmation number when paying bills. But it doesn’t confirm that the bill will be paid only that they have the information. Ridiculous. Read More

| May 18, 2019

Had checking and savings for years when living in Philly. Went into PNC 2.35 APY high yield savings. They have thus far maintained rate. Easy web site and great customer phone service. Still maintain check... Read More

| Jul 24, 2023

BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular... Read More

All rates listed are Annual Percentage Yield (APY). The Min listed is the minimum deposit account balance required to obtain the rate listed.

Branches Info around zip 10007


Branch Street City State
One American Bank
One American Bank Branch
549 Broadway Centerville SD
Citibank, National Association
Citibank, National Association Branch
701 East 60th Street North Sioux Falls SD
Merchants State Bank
Merchants State Bank Branch
305 S. Main St Freeman SD
Great Plains Bank
Great Plains Bank Branch
702 7th Street Eureka SD
Dacotah Bank
Roslyn Branch
506 North Main Street Roslyn SD
Plains Commerce Bank
Watertown South Branch
920 Fifth Street S.E. Watertown SD
Heritage Bank National Association
Sioux Falls Branch
140 North Phillips Ave Sioux Falls SD
Liberty National Bank
East Side Branch
4619 East 12th Street Sioux Falls SD
First PREMIER Bank
Castlewood Branch
Second And Main Castlewood SD
Great Plains Bank
Great Plains Bank Branch
702 7th Street Eureka SD
Sunrise Bank Dakota
Sunrise Bank Dakota Branch
201 South Main Street Onida SD
Black Hills Community Bank, N.A.
Black Hills Community Bank, N.A. Branch
840 Mount Rushmore Road Rapid City SD
Security First Bank
Sheridan Lake Branch
5430 Sheridan Lake Rd. Rapid City SD
American State Bank
Sioux Falls Branch
223 South Phillips Avenue Sioux Falls SD
Black Hills Community Bank, N.A.
Black Hills Community Bank, N.A. Branch
840 Mount Rushmore Road Rapid City SD
Liberty National Bank
East Side Branch
4619 East 12th Street Sioux Falls SD
CorTrust Bank National Association
Tabor Branch
100 North Lidice Street Tabor SD
Security Bank Midwest
Chancellor Branch
221 Main St. Chancellor SD
Western Dakota Bank
Western Dakota Bank Branch
803 Main Street Timber Lake SD
First Savings Bank
Springfield Branch
825 8th Street Springfield SD
The Farmers and Merchants State Bank
The Farmers And Merchants State Bank Branch
550 Main Street Scotland SD
Farmers and Merchants State Bank
White Lake Branch
121 South Main Street White Lake SD
Bryant State Bank
Bryant State Bank Branch
124 Main Avenue Bryant SD
Security National Bank of South Dakota
74th And Louise Branch
6601 South Louise Avenue Sioux Falls SD
Cornerstone Bank
Cornerstone Bank Branch
4930 South Western Avesnue Sioux Falls SD
1st Financial Bank USA
1st Financial Bank Usa Branch
331 North Dakota Dunes Boulevard Dakota Dunes SD
Heartland State Bank
Heartland State Bank Branch
302 East 7th Avenue Redfield SD
Quoin Financial Bank
Sioux Falls Branch
5700 South Remington Place Sioux Falls SD
Bryant State Bank
Bryant State Bank Branch
124 Main Avenue Bryant SD
First Western Federal Savings Bank
First Western Federal Savings Bank Branch
402 Main Street Rapid City SD
BankWest, Inc.
Gregory Branch
615 Main Street Gregory SD
BankStar Financial
Brookings Branch
427 8th St. South Brookings SD
Premier Bank
Hudson Branch
500 4th Street Hudson SD
American Bank & Trust
Pierre Br Branch
700 East Sioux Avenue Pierre SD
First Fidelity Bank
Murdo Branch
123 Main Street Murdo SD
BankStar Financial
Brookings Branch
427 8th St. South Brookings SD
Bank Midwest
Sioux Falls Branch
225 S Minnesota Ave Sioux Falls SD
Farmers State Bank
Fulton Br Branch
221 North Main Avenue Fulton SD
First Bank & Trust
Toronto Branch
445 Main Ave. Toronto SD
First Dakota National Bank
Pierre Branch
322 S Coteau St Pierre SD
First National Bank
Sturgis Branch
955 Main Street Sturgis SD
The First National Bank in Sioux Falls
Sertoma Branch
7109 West 26th Street Sioux Falls SD
The First National Bank in Sioux Falls
Sertoma Branch
7109 West 26th Street Sioux Falls SD
U.S. Bank National Association
Rapid City Main Branch
701 Saint Joseph Street Rapid City SD
First Interstate Bank
Rapid City East Branch
711 N Creek Dr Rapid City SD
Farmers State Bank of Canton
Farmers State Bank Of Canton Branch
220 East Fifth Street Canton SD
U.S. Bank National Association
Rapid City Main Branch
701 Saint Joseph Street Rapid City SD


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION

Five Year CDs - Branch Banks 2025

Five-year CDs are the big kahuna of the CD world. While banks may offer six-year, seven-year, or even 10-year CDs, the five-year is the longest of the most commonly offered terms. The 5-year CD is therefore often the highest offer at your local bank. Therefore, the temptation for those looking for yield is to open one, deposit money, and forget about it for five years. This could be a mistake. In rising rate environments a five-year CD may not be a good investment.

Safety

Like every other CD term, five year CDs from FDIC insured banks are protected up to FDIC limits (generally $250,000 per account holder per bank). If your deposit is over the FDIC limit then you may not receive the uninsured money in case of a bank failure.

Inflation

The principle threat to a a five year CD is inflation. If the CD is opened in a low rate environment, and rates and inflation subsequently rise, then inflation will erode the value of the certificate of deposit over its five years. For example, if a depositor opened a five year CD in year 1 with a yield of 2.05% APY and inflation at 1.5%, then the real return is .55 percentage points. But if inflation rises the next year to 2.5% and stays there for the next four years, then the CD in real terms is losing money every year: 2.05% - 2.5% = -.45%.

While it is impossible for anyone to predict too far into the future, savers should be cognizant of the economic environment before locking up money for a five year time-period. Our rate analysis page provides some insight into where we think rates will go.

On the other hand, if rates are falling and will continue to do so for some time due to an economic recession then it makes sense to lock in a higher rate with a five year CD. Savers who opened five year CDs in 2008 immediately after the financial crisis were able to lock in rates in the 6% range, a great move considering two years later a five year CD paid below 3%.

Interest

Five-year CDs currently pay about 1.00% more in interest than a one year CD. In general, CDs of this duration are best opened as part of a laddered CD portfolio or if the depositor thinks that rates will either stagnate or drop over the next couple of years.

Opening a Five Year CD

Opening a five year CD in a branch is relatively easy and similar to every other CD term. Most banks require the customer be a resident of the United States and most branch-based banks ask that the account be opened in the bank. Funding can be performed by transferring money that is already located at that bank or by check or ACH transfer from another bank. The CD can be opened that day and the rate locked.

With longer term CDs, savers should make sure they put a record of the CD in a safe place and that if they move, they forward their new address to the bank. In cases where the bank cannot find the CD holder, the bank may hand the funds over to a state authority as a lost deposit, and it will require onerous paperwork to reclaim the money.

ADVANTAGES AND DISADVANTAGES OF FIVE YEAR CDs

Advantages of five year CDs

  • 5 year CDs provide the highest rate of the common CD terms.
  • The return is fixed for five years, which is an advantage in a flat or falling rate environment.

Disadvantages of five year CDs

  • The money is locked away for five years and cannot be withdrawn without a substantial penalty.
  • In a rising rate environment, inflation will reduce the value of the money in the CD over time.
  • Branch CDs require the saver to visit a branch and be subjected to cross-sell pitches and other marketing tactics.

All banks listed on BestCashCow are FDIC insured; BestCashCow.com strongly recommends that you stay within FDIC insurance limits and that if you are unsure of how the limits affect you, please visit the FDIC website.

To understand all of the income generating options available to a saver, please view the Income Generating Investments Comparison Chart.

SAVINGS & CD CALCULATOR

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