CD Features and Benefits
- You get a 10-calendar-day grace period after the maturity date to change the length of the term or withdraw funds without being charged a penalty. 1
- You may also increase the amount in your Certificate of Deposit during the grace period.
- Competitive interest rates.
- Interest payments can easily be added to the CD, paid by check, or deposited to a State Farm Bank account.
CD Early Withdrawal
If you make a withdrawal prior to the maturity date, an early withdrawal penalty may be imposed. If you withdraw any principal before the maturity date, the following penalties may be imposed:
Early Withdrawal Penalties
The early withdrawal penalty is based on the principal withdrawn and dependent upon the CD term.
12 months or less
90 days of interest
13 months or greater
180 days of interest