CD Terms and Conditions

In addition to the General Rules in the Deposit Account Agreement, your Certificate of Deposit Account will be subject to the following rules:

1. Payment. The deposit is payable upon a maturity date. If this is a joint account, payment is subject to the terms described in section 9 and 10 of the General Rules.
   
   
2. Interest. Interest is accrued and credited to the Certificate of Deposit as set forth in the Certificates of Deposit section under the TRUTH IN SAVINGS DISCLOSURES.
   
   
3. Variable rate. If the Certificate of Deposit is a variable rate certificate, the Account Disclosures provided at deposit will describe the index rate used to determine the interest paid.
   
   
4. Withdrawal Prior to Maturity. Depositor has contracted to keep the funds on deposit as evidenced by the Deposit Received Date and Maturity Term listed on the Certificate of Time Deposit Application. Acceptance of a request by Depositor for a withdrawal of some or all of the funds prior to the Maturity Date is at the discretion of State Farm Bank.
   
   
5. Early Withdrawal Penalties. If State Farm Bank allows a withdrawal, either partial or total, each time it allows such a withdrawal, depositor may be assessed an early withdrawal penalty as set forth in the Certificates of Deposit section under the TRUTH IN SAVINGS DISCLOSURES.
   
   
6. Automatically Renewable Certificates. Certificates renew automatically on the Maturity Date. If the deposit is withdrawn during the Grace Period set forth in Certificate, State Farm Bank will not charge an early withdrawal penalty. Interest paid on the deposit until withdrawal during the Grace Period shall be that Grace Period interest described in the Certificates of Deposit section under the TRUTH IN SAVINGS DISCLOSURES.