Truth in Savings Disclosures

• Checking Account
• Interest Checking Account
• Money Market Account
• Savings Account
• Fixed-Rate Certificates of Deposit
• Individual Retirement Account (IRA)
• Health Savings Account (HSA)
• Business Deposit Accounts
  

Checking Account

• This is a non-interest bearing account.
• Minimum opening deposit is $100.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $100. The minimum balance fee will be waived if the account receives a direct deposit via an Automated Clearing House (ACH) credit during the statement cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• There are no transaction limits on this account.
• The initial package of 50 blue Specialty checks is free. The cost to You for reordering checks is dependent on the style of check You choose.
• All account holders must be at least age 13 and one person named on the account must be at least age 18.
• Convenient access to the account by check, ATM, point-of sale, mail, phone, or the Internet.
• Account statements provided monthly.
• Overdraft protection available.

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Interest Checking Account

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at  http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $100.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $500. The minimum balance fee will be waived if the account receives a direct deposit via an Automated Clearing House (ACH) credit during the statement cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• You must maintain a minimum balance of $2,500 in the account each day to obtain the disclosed annual percentage yield.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• The initial package of 50 blue Specialty checks is free. The cost to You for reordering checks is dependent on the style of check You choose.

• This account is intended for personal, family or household purposes and cannot be used for business/commercial uses. If this account is being used for business/commercial purposes, We reserve the right to change the account to a business checking type of account. A sole proprietor, non-profit organization, and a business account where the vested interest on the account are for the benefit of individual(s) such as a pension or profit sharing plan and governmental agencies are eligible to maintain an Interest Checking Account.
• There are no transaction limits on this account.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.
• All account holders must be at least age 13 and one person named on the account must be at least age 18.
• Convenient access to the account by check, ATM, point-of sale, mail, phone, or the Internet.
• Account statements provided monthly.
• Overdraft protection available.

Ready to get started?

Money Market Account

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $1,000.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $500. The minimum balance fee will be waived if the account receives a direct deposit via an Automated Clearing House (ACH) credit during the statement cycle. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• You must maintain a minimum balance of $100 in the account each day to obtain the disclosed annual percentage yield.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• Blue Specialty checks are free. Your cost for alternate check styles is dependent on the style of check You choose.
• You may make six (6) transfers from your account each monthly statement cycle by check, preauthorized or automatic transfer, draft, point of-sale, telephone and/or electronic banking such as Bill Pay. If You exceed these limitations, We may refuse to honor the excessive transactions, remove your transfer privileges, close the account without prior notice, convert it to another type of account, and/or impose a fee for exceeding the limits. (Note: We count checks for purposes of the transaction limitations as of the date We post them to your account, not as of the date You write them. As such, a check You write during one statement period may not be counted until a subsequent statement period).
• You are allowed unlimited withdrawals by ATM, mail, and withdrawals made by telephone payable to You.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.
• All account holders must be at least age 13 and one person named on the account must be at least age 18.
• Account statements provided monthly.
• Convenient access to the account by check, ATM, mail, phone, or the Internet.
• Can be used as the “Protecting Account” for overdraft protection. Transfers to cover overdrafts are counted in the six (6) allowed transfers as mentioned above.

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Savings Account

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at  http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $100.
• When the primary account holder is 18 years of age or older, a minimum balance fee will be imposed monthly if the average daily balance for the month falls below $100. The minimum balance fee will be waived if the account receives a direct deposit via an Automated Clearing House (ACH) credit during the statement cycle. When the primary account holder is under age 18, a monthly inactivity fee will apply if the account has no customer-initiated deposits or withdrawals during the previous three (3) statement cycles and the minimum average daily balance is less than $100. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• You may make six (6) transfers from your account each monthly statement cycle by, preauthorized or automatic transfer, point-of-sale, telephone and/or electronic banking. f You exceed these limitations, We may refuse to honor the excessive transactions, remove your transfer privileges, close the account without prior notice, convert it to another type of account, and/or impose a fee for exceeding the limits. (Note: We count transactions for purposes of the transaction limitations as of the date We post them to your account, not as of the date You initiate them. As such, a transaction You initiate during one statement period may not be counted until a subsequent statement period).
• You are allowed unlimited withdrawals by ATM, mail, and withdrawals made by telephone payable to You.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.
• Account statements provided monthly.
• Convenient access to the account by ATM, point-of sale, mail, phone, or the Internet.
• Can be used as the “Protecting Account” for overdraft protection. Transfers to cover overdrafts are counted in the six (6) allowed transfers as mentioned above.

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Fixed-Rate Certificates of Deposit

• This is a fixed rate account.
• Current interest rate and Annual Percentage Yield (APY) information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• You will be paid the interest rate until the maturity date of the certificate.
• The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest earned will be compounded daily.
• Interest earned will be credited to the account at maturity for certificates of deposit with terms less than 12 months. Interest may be credited to the account at maturity, monthly, quarterly, or semi-annually for certificates of deposit with a term of 12 months. For terms longer than 12 months, interest may be credited to the account monthly, quarterly, semi-annually, or annually.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• The minimum opening deposit for regular certificates of deposit is $500. The minimum opening deposit for jumbo certificates of deposit is $100,000.
• To obtain the APY disclosed, You must maintain a minimum balance of $500 for regular certificates of deposit and $100,000 for jumbo certificates of deposit.
• After the account is opened, You may not make deposits into or withdrawals from the account until the maturity date without penalty.
• You have contracted to keep funds on deposit as evidenced by the Term listed on the Certificate of Time Deposit Application and on the Receipt for Certificate of Time Deposit provided to You. Acceptance of a request by You for a withdrawal of some or all of the funds prior to the maturity date is at the discretion of State Farm Bank.
• If You withdraw any principal before the maturity date the following penalties may be imposed:
  1). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of the initial deposit; 2). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of a previous withdrawal; 3). a penalty equal to 90 days’ interest (earned or not) on the principal withdrawn for certificates with terms of 12 months or less; and 4). a penalty equal to 180 days’ interest (earned or not) on the principal withdrawn for certificates with terms longer than 12 months .
• Standard Term Certificates of Deposit (3, 6, 12, 24, 36, 48, and 60 months) renew automatically at maturity at the same term. Special Term Certificates of Deposit renew automatically at maturity into the next highest Standard Term Certificate of Deposit. For example, a 9-month Special Term CD will automatically renew at maturity into a 12-month Standard Term CD.  An 18-month Special Term CD will automatically renew at maturity into a 24-month Standard Term CD. You have a Grace Period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty. You may also increase the amount in your certificate of deposit account by any amount during the Grace Period. If the last day of the Grace Period is a non-business day, the Grace Period expires on the next business day. Interest will be earned during the Grace Period at the renewal rate.
• Unless otherwise distributed, interest is capitalized at maturity, and becomes part of the principal balance for the subsequent term(s).

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Individual Retirement Account (IRA) & Education Savings Account (ESA) Fixed-Rate Certificates of Deposit
(Includes Traditional IRAs, Roth IRAs and Coverdell ESAs)

• This is a fixed rate account.
• Current interest rate and Annual Percentage Yield (APY) information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• You will be paid the interest rate until the maturity date of the certificate.
• The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest earned will be compounded daily.
• Interest earned will be credited to the account at maturity for certificates of deposit with terms less than 12 months. Interest may be credited to the account at maturity, monthly, quarterly, or semi-annually for certificates of deposit with a term of 12 months. For terms longer than 12 months, interest may be credited to the account monthly, quarterly, semi-annually, or annually.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• The minimum opening deposit for Traditional IRA, Roth IRA or ESA certificates of deposit is $500.
  The minimum opening deposit for jumbo Traditional IRA, jumbo Roth IRA, or jumbo ESA is $100,000.
• To obtain the APY disclosed, You must maintain a minimum balance of $500 for Traditional IRA, Roth IRA, or ESA certificates of deposit and a minimum balance of $100,000 for jumbo certificates of deposit.
• After the account is opened, additional deposits may be made only to a 12-month term Traditional IRA, Roth IRA or ESA. Additions cannot be made in the 7-day period before the maturity date. Additions will earn interest from the business day your deposit is received at our Bank Operations Center and will not change the maturity date or interest rate of the account. The minimum additional deposit to the account is $100.
• Normal distributions will be allowed on IRAs without incurring an early withdrawal penalty for customers who have reached age 59½. Transfers or rollovers to another IRA are not considered normal distributions.
• Distributions on IRAs will be limited to a minimum of $10 each. As a result of distributions, the IRA certificate of deposit balance may fall below the minimum opening balance. However, the account shall never be allowed to fall below a minimum balance of $10.
• You have contracted to keep funds on deposit as evidenced by the Term listed on the Certificate of Time Deposit Application and on the Receipt for Certificate of Time Deposit provided to You. Acceptance of a request by You for a withdrawal of some or all of the funds prior to the maturity date is at the discretion of State Farm Bank.
• With the exception of IRA Distributions as outlined above, if You withdraw any principal before the maturity date the following penalties may be imposed: 1). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of the initial deposit;  2). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of a previous withdrawal;  3). a penalty equal to 90 days’ interest (earned or not) on the principal withdrawn for certificates with terms of 12 months or less; and 4) a penalty equal to 180 days’ interest (earned or not) on the principal withdrawn for certificates with terms longer than 12 months. Additional IRS penalties may apply.
• Standard Term Certificates of Deposit (12, 24, 36, 48, and 60 months) renew automatically at maturity at the same term.  Special Term Certificates of Deposit renew automatically at maturity into the next highest Standard Term Certificate of Deposit. For example, a 9-month Special Term CD will automatically renew at maturity into a 12-month Standard Term CD. An 18-month Special Term CD will automatically renew at maturity into a 24-month Standard Term CD.  You have a Grace Period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty. You may also increase the amount in your certificate of deposit account by any amount during the Grace Period. If the last day of the Grace Period is a non-business day, the Grace Period expires on the next business day. Interest will be earned during the Grace Period at the renewal rate.
• Unless otherwise distributed, interest is capitalized at maturity, and becomes part of the principal balance for the subsequent term(s).

Ready to get started?

Health Savings Account (HSA)

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $100.
• There is no minimum balance fee on this account.
• The HSA has an annual fee which will be debited from the account on the first year anniversary date of the account activation and annually thereafter.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• The initial package of blue Specialty checks is free. The cost to You for reordering checks is dependent on the style of check You choose.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.
• Account statements provided monthly.
• Convenient access to the account by mail, phone, or the Internet.

Ready to get started?

Business Deposit Accounts

Business Checking:

• This is a non-interest bearing account.
• Minimum opening deposit is $100.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $3,000. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• There are no transaction limits on this account.
• The initial package of 50 blue Specialty checks is free. The cost to You for reordering checks is dependent on the style of check You choose.

Agent Business Checking Account:

• Available to State Farm agents only.
• This is a non-interest bearing account.
• Minimum opening deposit is $100.
• No minimum balance required and no monthly balance fee.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• There are no transaction limits on this account.
• The initial package of 50 blue Specialty checks is free. The cost to You for reordering checks is dependent on the style of check You choose.

Business Money Market Account:

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $1,000.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $500. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• You must maintain a minimum balance of $100 in the account each day to obtain the disclosed annual percentage yield.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• Blue Specialty checks are free. Your cost for alternate check styles is dependent on the style of check You choose.
• You may make six (6) transfers from your account each monthly statement cycle by check, preauthorized or automatic transfer, draft, point-of-sale, telephone and/or electronic banking. If You exceed these limitations, We may refuse to honor the excessive transactions, remove your transfer privileges, close the account without prior notice, convert it to another type of account, and/or impose a fee for exceeding the limits. (Note: We count checks for purposes of the transaction limitations as of the date We post them to your account, not as of the date You write them. As such, a check You write during one statement period may not be counted until a subsequent statement period).
• You are allowed unlimited withdrawals by ATM, mail, and withdrawals made by telephone payable to You.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.
• Account statements provided monthly.

Business Savings:

• This is a variable rate account. The interest rate and Annual Percentage Yield (APY) are subject to change daily at our sole discretion.
• This is a tiered rate account. Your entire balance will earn the interest rate and APY in effect for the balance tier associated with your daily balance.
• Current interest rate, APY, and balance tier information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest will be compounded daily and credited to your account monthly at the statement cycle date.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• Minimum opening deposit is $100.
• A minimum balance fee will be imposed monthly if the average daily balance for the month falls below $100. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
• This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
• You may make six (6) transfers from your account each monthly statement cycle by, preauthorized or automatic transfer, point-of-sale, telephone and/or electronic banking. If You exceed these limitations, We may refuse to honor the excessive transactions, remove your transfer privileges, close the account without prior notice, convert it to another type of account, and/or impose a fee for exceeding the limits. (Note: We count transactions for purposes of the transaction limitations as of the date We post them to your account (not as of the date You initiate them. As such, a transaction You initiate during one statement period may not be counted until a subsequent statement period).
• You are allowed unlimited withdrawals by ATM, mail, and withdrawals made by telephone payable to You.
• The Bank reserves the right to require written notice seven (7) days prior to any withdrawal or transfer from this account.

Business Fixed-Rate Certificates of Deposit:

• This is a fixed rate account.
• Current interest rate and Annual Percentage Yield (APY) information may be obtained by calling State Farm Bank at 1-877-734-2265, by clicking on “Get Rates” at http://www.statefarm.com, or by visiting or calling a State Farm agent and asking for a Rate Sheet.
• You will be paid the interest rate until the maturity date of the certificate.
• The APY assumes interest remains on deposit until maturity. A withdrawal will reduce earnings.
• We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
• Interest earned will be compounded daily.
• Interest earned will be credited to the account at maturity for certificates of deposit with terms less than 12 months. Interest may be credited to the account at maturity, monthly, quarterly, or semi-annually for certificates of deposit with a term of 12 months. For terms longer than 12 months, interest may be credited to the account monthly, quarterly, semi-annually, or annually.
• Interest begins to accrue on the business day your deposits are received at our Bank Operations Center.
• The minimum opening deposit for regular certificates of deposit is $500. The minimum opening deposit for jumbo certificates of deposit is $100,000.
• To obtain the APY disclosed, You must maintain a minimum balance of $500 for regular certificates of deposit and $100,000 for jumbo certificates of deposit.
• After the account is opened, You may not make deposits into or withdrawals from the account until the maturity date without penalty.
• You have contracted to keep funds on deposit as evidenced by the Term listed on the Certificate of Time Deposit Application and on the Receipt for Certificate of Time Deposit provided to You. Acceptance of a request by You for a withdrawal of some or all of the funds prior to the maturity date is at the discretion of State Farm Bank.
• If You withdraw any principal before the maturity date the following penalties may be imposed: 1). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of the initial deposit; 2). a penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of a previous withdrawal; 3). a penalty equal to 90 days’ interest (earned or not) on the principal withdrawn for certificates with terms of 12 months or less; and 4). a penalty equal to 180 days’ interest (earned or not) on the principal withdrawn for certificates with terms longer than 12 months.
• Standard Term Certificates of Deposit (3, 6, 12, 24, 36, 48, and 60 months) renew automatically at maturity at the same term.  Special Term Certificates of Deposit renew automatically at maturity into the next highest Standard Term Certificates of Deposit. For example, a 9-month Special Term CD will automatically renew at maturity into a 12-month Standard Term CD. An 18-month Special Term CD will automatically renew at maturity into a 24-month Standard Term CD. You have a Grace Period of ten (10) calendar days after the maturity date to withdraw the funds without being charged a penalty. You may also increase the amount in your certificate of deposit account by any amount during the Grace Period. If the last day of the Grace Period is a non-business day, the Grace Period expires on the next business day. Interest will be earned during the Grace Period at the renewal rate.
• Unless otherwise distributed, interest is capitalized at maturity, and becomes part of the principal balance for the subsequent term(s).

Ready to get started?