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State Farm Bank® deposit products are FDIC insured.

State Farm Bank® Savings Account

With a State Farm Bank Savings Account, you earn interest with easy access.

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Savings Account Highlights

Important Account Disclosure
  • No minimum opening deposit.1
  • No fee for ATMs owned by State Farm Bank. Up to $10 rebate per statement cycle if other ATMs are used.2
  • No minimum balance fee with direct deposit.*
  • Interest compounded daily.

Savings Account Eligibility

Important Account Disclosure
  • The individual(s) on the account must have a Social Security number (SSN), Tax Identification Number (TIN), or Individual Taxpayer Identification Number (ITIN).
  • At least one account holder must be age 18 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.

Features and Benefits

  • Complimentary ATM card3 may be used at merchant terminals that display the NYCE®, Visa or PLUS® network logos.
  • Available as an overdraft protection account for a State Farm Bank® Deposit account, if you request the two accounts be linked.
  • Competitive interest rates.
  • The convenience of banking online.
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* Minimum balance fee of $3 if fail to maintain the minimum average daily balance of $100. This fee will be waived if the account receives a direct deposit via an Automated Clearing House (ACH) credit during the statement cycle or the individual is under the age of 18.

1 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.

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 & 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 & 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.

2 Refer to the Pricing Schedule for Consumer & Business Deposit accounts for more details.

3 Protected against unauthorized use, even if the card is lost or stolen. Please refer to the Electronic Funds Transfer (EFT) Customer Agreement for more details.

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® 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.