BANKING

Money Market Savings

Save for tomorrow with the flexibility you want today.

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Grow your savings safely with an account that offers a competitive interest rate, FDIC insurance, and convenient access to your funds without early withdrawal penalties.

Star Ratings

Highlights

  • Open your money market savings account with as little as $1,000 and start earning interest.1
  • Earn interest with as little as $100!
  • Variable, tiered interest rate applies.
  • Interest is compounded daily and credited to your account monthly.

With our money market savings account, you can safely save for the future while earning a great rate. Open an account with as little as $1,000 and if you maintain a $500 average daily balance or have a direct deposit (ACH credit) each statement cycle, the minimum balance fee is waived. A great interest rate, access to our full-featured online bank, mobile deposits on your smartphone2, convenient 24-hour access, and a competitive interest rate — this account has it all!

Features and Benefits

  • Open your money market savings account with as little as $1,000 and start earning interest.1
  • Earn interest with as little as $100.
  • Variable, tiered interest rate.
  • Interest is compounded daily and credited to your account monthly.
  • This account is FDIC insured.
  • No more waiting to make a deposit.
  • No fee for ATMs used that are owned by State Farm Bank®. Account will be rebated up to $10 per statement cycle when a foreign (non-State Farm Bank owned) ATM is used. Unlimited ATM surcharge rebates for foreign ATMs with direct deposit.1
  • Overdraft protection available with a State Farm Bank deposit account or State Farm® Visa® credit card.
  • Free specialty checks.
  • Free, convenient online banking and bill payment.
  • Monthly statements available in English or Spanish.
  • Statements available online or by mail.
  • Free ATM card available.
  • Withdrawals can be made by ATM, online transfer, mail, or telephone. Refer to the Truth in Savings Disclosures for additional details.

Compare Our Money Market Savings Account with our Checking Accounts

Money Market Savings Free Checking Interest Checking
Minimum Balance Fee1 No fee with direct deposit No fee No fee with direct deposit
Interest Eligible Checked Checked
ATM Fee Rebate Eligible1 Checked Checked Checked
Minimum Opening Deposit $1,000 $25 $100
Overdraft Protection Checked Checked Checked
Online Banking Checked Checked Checked
Mobile Banking Checked Checked Checked

Account Eligibility

  • The individual(s) on the account must have a Social Security Number (SSN), Tax Identification Number (TIN), or Individual Taxpayer Identification Number (ITIN).
  • All account holders of a Checking, Interest Checking, or Money Market Savings account must be at least age 13, and one account holder must be at least age 18.
  • Minors may be listed as the primary or secondary account holder. While we do allow minors as account holders, these accounts must be opened on the phone or through a State Farm® agent.

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

2 Compatible mobile phone required; enrollment and terms and conditions may apply.

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