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State Farm Bank® deposit products are FDIC insured.
STATE FARM BANK®

Checking
Made Simple

Convenient checking with options for ATM rebates, mobile and online account access, overdraft protection, and your first check order is complimentary.

 

Checking1

Manage your daily banking needs.

  • No minimum opening deposit.
  • No monthly fees2 and no minimum balance.
  • Access your account 24/7 online or with our mobile app.
 

Interest
Checking1

Enjoy a competitive rate with checking benefits.

  • No minimum opening deposit.
  • Earn interest on your money.
  • No monthly fee with direct deposit.2
  • Access your account 24/7 online or with our mobile app.

Interest Checking Rates

Earn a competitive interest rate3 when you have an account balance of at least $2,500.

Balance Interest Rate Annual Percentage Yield (APY)
$0 - $2,499 0.00% 0.00%
$2,500+ 0.25%3 0.25%3
Balance $0 - $2,499 $2,500+
Interest Rate 0.00% 0.25%3
Annual Percentage Yield (APY) 0.00% 0.25%3

Rates effective as of 06/27/2018

Compare Checking vs. Interest Checking

Still trying to decide which checking account is right for you? See their different features and benefits side-by-side.

  Checking Interest Checking
Best Use Small balance for daily transactions Large balance for daily transactions
Annual Percentage Yield (APY) 0% 0.25% on accounts $2,500+
Interest Compounded Daily No Yes
Minimum Average Daily Balance None $500
Minimum Balance Fee4 None $10/None with direct deposit

Get Access to ATMs With Our State Farm Bank Visa® Debit Card

 

Accepted anywhere Visa is accepted. The State Farm Visa Debit Card provides the benefits of paying with a card without the worries of paying interest.

All purchases and cash withdrawals made with the State Farm Visa Debit Card are deducted directly from your bank account.

Apply for a Checking Account now

1 The individuals(s) on the account must have a Social Security number (SSN), Tax Identification Number (TIN), or individual Taxpayer Identification Number (ITIN), and at least one account holder must be 18 years or older. Minors may be listed as the primary or secondary account holder. However, these accounts must be opened on the phone or through a State Farm agent.

2 Refer to the Pricing Schedule for Consumer & Business Deposit accounts and the Truth in Savings Disclosures for more details.

3 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. Balance tier levels are subject to change without notice. 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 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, by clicking on State Farm Bank "Bank Rates", or by contacting your local State Farm agent. More Rate Information

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.

4 Minimum balance fee waived with direct deposit or by maintaining a daily average of the minimum balance.

Visa is a registered trademark of Visa International Service Association.

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) (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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