BANKING
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State Farm Bank deposit accounts are FDIC insured.

Certificate of Deposit (CD) and CD Rates

If you're looking for predictable income, a Certificate of Deposit is a good option. Grow your savings with a fixed-rate CD that meets your needs:

  • Choose a Certificate of Deposit term from 12 to 60 months and grow your savings with a competitive CD interest rate.
  • Open a Certificate of Deposit today with $500 or more and start earning interest that's compounded daily.1
  • Interest payments can easily be added to the CD, paid by check, or deposited to a State Farm Bank account.

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Certificate of Deposit Features and Benefits

  • Automatic renewal at maturity, so you can continue to earn interest through your grace period.
  • 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. Online statements available.

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Rates

State Farm Bank® delivers competitive interest rates on a host of checking and savings accounts, competitive Annual Percentage Rates (APRs) on credit cards, home, and vehicle loans.

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Need help planning? Visit our financial calculators.

Eligibility

  • The individual(s) on the account must have a Social Security Number (SSN), Tax Identification Number (TIN), or Individual Taxpayer Identification Number (ITIN).
  • Minors may be listed as the primary or secondary account holder. These accounts must be opened on the phone or through a State Farm® agent.

Fees

A 10-calendar-day grace period after the maturity date applies to change the investment term or withdraw funds without being charged a penalty. You may also increase the amount in your CD during the grace period.1

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:

  • Penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of the initial deposit.
  • Penalty of seven (7) days' interest on the principal withdrawn when the withdrawal is made within six (6) days of a previous withdrawal.
  • For all other principal withdrawals:

For CD's Opened or Renewed before April 30, 2015:

The early withdrawal penalty is based on the principal withdrawn and dependent upon the CD term.

For CD's Opened or Renewed after April 30, 2015:

The early withdrawal penalty is a minimum of $25 or the following based on the principal withdrawn and dependent upon the CD term.

1Refer to the Pricing Schedule for Consumer & Business Deposit Accounts and the Truth in Savings Disclosures for more details. Minimum opening deposit for a regular Fixed Rate CD is $500. The minimum opening deposit for jumbo Certificates of Deposit is $100,000.

State Farm Bank, F.S.B., Bloomington, Illinois ("Bank"), is a Member FDIC and Equal Housing Lender. NMLS ID 139716. The other products offered by affiliate companies of State Farm Bank are not FDIC insured, not a State Farm Bank obligation or guaranteed by State Farm Bank, and may be subject to investment risk, including possible loss of principal invested. The Bank encourages any interested individual(s) to submit an application for any product(s) offered by the Bank. We also encourage you to obtain information regarding the Bank's underwriting standards for each type of credit or service offered by visiting statefarm.com® or by contacting the Bank at 877-SF4-BANK (877-734-2265). If you are deaf, hard of hearing, or do not use your voice to communicate, you may contact us via 711 or other relay services. To apply for a Bank product, you may also see your participating State Farm Agent.

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