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State Farm Bank® Truth in Savings Disclosures

State Farm Bank® deposit accounts are FDIC insured.

Consumer Deposit Accounts


  • This is a non-interest-bearing account.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. 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 close the account. A sole proprietor, nonprofit 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 a Checking Account.
  • Convenient access to the account by check, ATM, point-of sale, mail, phone, or the Internet.
  • Account statements provided monthly.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection.


  • 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.
  • 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.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. 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 close the account. A sole proprietor, nonprofit 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 days prior to any withdrawal or transfer from this account.
  • Convenient access to the account by check, ATM, point-of sale, mail, phone, or the Internet.
  • Account statements provided monthly.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection.


  • 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.
  • 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.
  • This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
  • Money Market style checks are complimentary. Your cost for alternate check styles is dependent on the style of check You choose.
  • You may make six 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 (Refer to the Pricing Schedule for Consumer and Business Deposit Accounts) for exceeding the limits. (Note: We count checks and transactions for purposes of the transaction limitations as of the date We post them to your account, not as of the date You write or initiate them. As such, a check or transaction you write or initiate during one statement period may not be counted until a subsequent statement period).
  • In addition to the above transfers, You are allowed unlimited withdrawals by ATM; by mail (payments directly to You or transfers of funds from your account to any of your loan accounts with Us); or by telephone (via check payable to You.)
  • The Bank reserves the right to require written notice seven days prior to any withdrawal or transfer from this account.
  • Account statements provided monthly.
  • Convenient access to the account by check, ATM, mail, phone, or the Internet.
  • Overdraft Protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection. Transfers to cover overdrafts are counted in the six allowed transfers as mentioned above.


  • 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.
  • 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.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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. 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 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 (Refer to the Pricing Schedule for Consumer and Business Deposit Accounts) 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).
  • In addition to the above transfers, You are allowed unlimited withdrawals by ATM; by mail (payments directly to You or transfers of funds from your account to any of your loan accounts with Us); or by telephone (via check payable to You.)
  • The Bank reserves the right to require written notice seven 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 allowed transfers as mentioned above.


  • This is a fixed rate account.
  • Current interest rate and Annual Percentage Yield (APY) 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.
  • 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 semiannually 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, semiannually, 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 additional deposits into the account until the maturity date. 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:

Certificate of Deposit (CD) opened prior to 4/30/2015:

Note: If a withdrawal is made prior to the maturity date, the following penalties are applicable. When the CD Renews, the early withdrawal penalties for CDs that open or renew on or after 4/30/2015 may apply.

  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
  • Penalty equal to 90 days' interest (earned or not) on the principal withdrawn for a CD with term of 12 months or less.
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD with terms greater than 12 months.
Certificate of Deposit (CD) opened or RENEWED on or after 4/30/2015:
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
There is a minimum $25 penalty or the following:
  • Penalty equal to 90 days' interest (earned or not) on the principal withdrawn for a CD Term of 11 months or less.
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD Term of 12 months thru 23 months.
  • Penalty equal to 365 days' interest (earned or not) on the principal withdrawn for a CD Term of 24 months thru 47 months.
  • Penalty equal to 545 days' interest (earned or not) on the principal withdrawn for a CD Term of 48 months or greater.
Note: Special Term CDs renew automatically at maturity into the next highest Standard Term CD. The early withdrawal penalty will be based on the renewal term after the initial maturity date.
  • Standard Term Certificates of Deposit 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 10 calendar days after the maturity date to withdraw the funds without being charged a penalty. Requests for withdrawals must be received by the Bank during the 10 calendar day Grace Period to not be charged a penalty. Written requests will be processed as of the date received at our Bank Operations Center. 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 first 10 calendar days of the Grace Period at the renewal rate.
  • Unless otherwise distributed, capitalized interest at maturity becomes part of the principal balance for the subsequent term(s).


  • This is a fixed-rate account.
  • Current interest rate and Annual Percentage Yield (APY) 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, or by clicking on State Farm Bank "Bank Rates".
  • 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 may be credited to the account at maturity, monthly, quarterly, or semiannually 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, semiannually, 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 prior to renewal may be made only to a 12-month term Traditional IRA, Roth IRA or ESA. The additional deposit(s) must be at least $100. 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.
    • You may make contributions for a tax year at any time until the federal income tax deadline (generally April 15 of the following calendar year). To treat contributions as made for the prior year, You must irrevocably elect, in writing when the contribution is made, for the contribution to be treated as made for the prior year.
    • ACH contributions are recorded for current tax year in which the transaction is credited to your account.
  • 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.
  • As a result of distributions, the IRA certificate of deposit balance may fall below the minimum opening balance.
  • With the exception of IRA Distributions as outlined above, if You withdraw any principal before the maturity date, the following penalties may be imposed:

Certificate of Deposit (CD) opened prior to 4/30/2015:

Note: If a withdrawal is made prior to the maturity date, the following penalties are applicable. When the CD Renews, the early withdrawal penalties for CDs that open or renew on or after 4/30/2015 may apply.

  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
  • Penalty equal to 90 days' interest (earned or not) on the principal withdrawn for a CD term of 12 months.
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD term greater than 12 months.

Additional IRS penalties may apply.

Certificate of Deposit (CD) opened or RENEWED on or after 4/30/2015:

  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
There is a minimum $25 penalty or the following:
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD Term of 12 months thru 23 months.
  • Penalty equal to 365 days' interest (earned or not) on the principal withdrawn for a CD Term of 24 months thru 47 months.
  • Penalty equal to 545 days' interest (earned or not) on the principal withdrawn for a CD Term of 48 months or greater.
Note: Special Term CDs renew automatically at maturity into the next highest Standard Term CD. The early withdrawal penalty will be based on the renewal term after the initial maturity date.
  • Additional IRS penalties may apply.
  • Standard Term Certificates of Deposit (IRA & ESA CDs are available for terms of 12 months or greater) 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 15-month Special Term CD will automatically renew at maturity into a 24-month Standard Term CD.
  • You have a Grace Period of 10 calendar days after the maturity date to withdraw the funds without being charged a penalty. Requests for withdrawals must be received by the Bank during the 10 calendar day Grace Period to not be charged a penalty. Written requests will be processed as of the date received at our Bank Operations Center. 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 first 10 calendar days of the Grace Period at the renewal rate.
  • Unless otherwise distributed, capitalized interest at maturity becomes part of the principal balance for the subsequent term(s).


  • 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, or by clicking on State Farm Bank "Bank Rates".
  • 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.
  • This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
  • You may make six transfers from your account each monthly statement cycle by telephone and/or mail. If You exceed these limitations, We may refuse to honor the excessive transactions, remove your transfer privileges, close the account, convert it to another type of account, and/or impose a fee (Refer to the Pricing Schedule for Consumer and Business Deposit Accounts) 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 request or initiate them. As such, a transaction You request or initiate during one statement period may not be counted until a subsequent statement period).
  • In addition to the above transfers, You are allowed unlimited withdrawals by mail (payments directly to You or transfers of funds from your account to any of your loan accounts with Us); or by telephone (via check payable to You.)
  • Early withdrawal tax penalties may apply when performing these transactions.
  • Consult your tax advisor regarding the taxability of transfers and distributions.
  • We may refuse to honor bill payment transactions for IRA Money Market accounts, even though the service for these transactions is not restricted by the system.
  • The Bank reserves the right to require written notice seven days prior to any withdrawal or transfer from this account.
  • Account ownership must be sole owner. The account owner must be at least age 18.
  • Account statements provided monthly.
  • Account access by mail, phone, or the Internet.
  • After the account is opened, additional deposits may be made by mail or by direct deposit via ACH. Additions will earn interest from the business day your deposit is received at our Bank Operations Center.
  • You may make contributions for a tax year at any time until the federal income tax deadline (generally April 15 of the following calendar year). To treat contributions as made for the prior year, You must irrevocably elect, in writing when the contribution is made, for the contribution to be treated as made for the prior year.
  • ACH contributions are recorded for current tax year in which the transaction is credited to your account.
  • Distributions will be allowed on IRAs without incurring a Federal 10% tax penalty for customers who have reached age 59½.


  • 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, or by clicking on State Farm Bank "Bank Rates".
  • 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.
  • Accounts with a $0 balance for 2 years (730 days) at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • There is no minimum balance fee on this account.
  • The HSA has an annual fee that will be debited from the account on the first-year anniversary of the account opening date 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. 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 days prior to any withdrawal or transfer from this account.
  • Account statements provided monthly.
  • Convenient access to the account by check, ATM, point-of-sale, mail, phone, or the Internet.
  • You may make contributions for a tax year at any time until the federal income tax deadline (generally April 15 of the following calendar year). To treat contributions as made for the prior year, You must irrevocably elect, in writing when the contribution is made, for the contribution to be treated as made for the prior year.
  • ACH contributions are recorded for current tax year in which the transaction is credited to your account.

Business Deposit Accounts


  • Available to State Farm agents only.
  • This is a non-interest bearing account.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. The cost to You for reordering checks is dependent on the style of check You choose.
  • Account statements provided monthly.
  • Convenient access to the account by check, ATM, point-of-sale, mail, phone, or Internet.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection on a business account.


  • Available to Non-Profit Organizations only.
  • This is a non-interest-bearing account.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. The cost to You for reordering checks is dependent on the style of check You choose.
  • Convenient access to the account by check, ATM, point-of sale, mail, or phone.
  • Account statements provided monthly.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection on a business account.


  • Available to Non-Profit Organizations only.
  • 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.
  • 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.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • No minimum balance required and no monthly balance fee.
  • 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 order of checks is complimentary. The style and number of checks provided is determined by State Farm Bank in its sole discretion and may vary. The cost to You for reordering checks is dependent on the style of check You choose.
  • There are no transaction limits on this account.
  • The Bank reserves the right to require written notice seven days prior to any withdrawal or transfer from this account.
  • Convenient access to the account by check, ATM, point-of sale, mail, or phone.
  • Account statements provided monthly.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection on a business 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. 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.
  • 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.
  • This account may be subject to fees and charges. Refer to the Pricing Schedule for Consumer and Business Deposit Accounts.
  • Money Market style checks are complimentary. Your cost for alternate check styles is dependent on the style of check You choose.
  • You may make six 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 (Refer to the Pricing Schedule for Consumer & Business Deposit Accounts) for exceeding the limits. (Note: We count checks and transactions for purposes of the transaction limitations as of the date We post them to your account, not as of the date You write or initiate them. As such, a check or transaction You write or initiate during one statement period may not be counted until a subsequent statement period.)
  • In addition to the above transfers, You are allowed unlimited withdrawals by ATM; by mail (payments directly to You or transfers of funds from your account to any of your loan accounts with Us); or by telephone (via check payable to You).
  • The Bank reserves the right to require written notice seven days prior to any withdrawal or transfer from this account.
  • Account statements provided monthly.
  • Convenient access to the account by check, ATM, point-of-sale, mail, or phone.
  • Overdraft protection available.
  • Can be used as the "Protecting Account" for Overdraft Protection on a business account. Transfers to cover overdrafts are counted in the six allowed transfers as mentioned above.


  • 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.
  • 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.
  • Accounts with a $0 balance for 60 consecutive days at any time beginning with the account opening date will be automatically closed.
  • No minimum opening deposit.
  • 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.
  • You may make six 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 (Refer to the Pricing Schedule for Consumer and Business Deposit Accounts) 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.)
  • In addition to the above transfers, You are allowed unlimited withdrawals by ATM, by mail (payments directly to You or transfers of funds from your account to any of your loan accounts with Us), or by telephone (via check payable to You).
  • The Bank reserves the right to require written notice seven days prior to any withdrawal or transfer from this account.
  • Account statements provided monthly.
  • Can be used as the "Protecting Account" for Overdraft Protection on a business account. Transfers to cover overdrafts are counted in the six allowed transfers as mentioned above.


  • This is a fixed-rate account.
  • Current interest rate and Annual Percentage Yield (APY) 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.
  • 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 semiannually 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, semiannually, 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 additional deposits into the account until the maturity date. 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:

Certificate of Deposit (CD) opened prior to 4/30/2015:

Note: If a withdrawal is made prior to the maturity date, the following penalties are applicable. When the CD Renews, the early withdrawal penalties for CDs that open or renew on or after 4/30/2015 may apply:

  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
  • Penalty equal to 90 days' interest (earned or not) on the principal withdrawn for a CD term of 12 months or less.
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD term greater than 12 months.
Certificate of Deposit (CD) opened or RENEWED on or after 4/30/2015:
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of the initial deposit.
  • Penalty of seven days' interest on the principal withdrawn when the withdrawal is made within six days of a previous withdrawal.
There is a minimum $25 penalty or the following:
  • Penalty equal to 90 days' interest (earned or not) on the principal withdrawn for a CD Term of 11 months or less.
  • Penalty equal to 180 days' interest (earned or not) on the principal withdrawn for a CD Term of 12 months thru 23 months.
  • Penalty equal to 365 days' interest (earned or not) on the principal withdrawn for a CD Term of 24 months thru 47 months.
  • Penalty equal to 545 days' interest (earned or not) on the principal withdrawn for a CD Term of 48 months or greater.
Note: Special Term CDs renew automatically at maturity into the next highest Standard Term CD. The early withdrawal penalty will be based on the renewal term after the initial maturity date.
  • Standard Term Certificates of Deposit 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 10 calendar days after the maturity date to withdraw the funds without being charged a penalty. Requests for withdrawals must be received by the Bank during the 10 calendar day Grace Period to not be charged a penalty. Written requests will be processed as of the date received at our Bank Operations Center. 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 first 10 calendar days of the Grace Period at the renewal rate. Interest will be earned during the first 10 calendar days of the Grace Period at the renewal rate.
  • Unless otherwise distributed, capitalized interest at maturity becomes part of the principal balance for the subsequent term(s).

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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.