Bloomington, IL-based State Farm Bank is a premium banking and insurance company that offers CD and money market accounts, including high yield deals. The bank is included in the top 35 financial institutions under the Fortune 500 rankings. CD rates at State Farm Bank as of February 24, 2010 are as follows.

Highest CD rates are currently offered on the 5-year CD with an APY of 2.75%. The lowest CD rate is available on the 3-month CD with an APY of 0.35%. A 6-month CD will return an APY of 0.52% at State Farm Bank.

State Farm Bank CD Rates for one year investment option are currently estimated at 0.94% APY. A 2-year investment at State Farm will return an APY of 1.37%.

State Farm CD rates for a 3-year investment will return an APY of 1.63%. A 4-year CD at the bank will return an APY of 1.73% whereas a 5-year CD will yield 2.75%. Minimum opening balance for these accounts is $500. The bank offers the same APY on IRA CDs. In case of an investment equal to or greater than $100,000, the highest possible APY will be accrued on the 5-year CD with 2.77%. A 3-month CD will yield 0.37% under this investment option. One year CD will return an APY of 0.95% whereas a 2-year CD will yield 1.40% Penalties will be applied in case of early withdrawals and other violations of user agreement; other fees can also be charged on these accounts.

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Current State Farm Bank CD Rates

Up to 1 year term CD rates at State Farm Bank
For the shorter terms of one year and under, State Farm CD rates are average. At 3 months, the rate is 0.40% APY, at 6 months it’s 0.57% APY, and at one year (12 months) it’s 1.14% APY.

Up to 3 year term State Farm Bank CD Rates
In terms up to three years, there is a 24 month term offer at 1.42% APY and a 36 month term offer at 1.68% APY.

Up to 5 year term State Farm Bank CD Rates
For this term, there is a 48 month offer at 1.78% APY and a 60 month offer at 2.80% APY. These are nationally competitive.

State Farm Bank is, of course, FDIC insured to the fullest extent of the law. If any of these CD rates at State Farm Bank appeal to you, lock yours in today. The highest CD rates change often.

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State Farm CD Rates

CD interest rates at State Farm Bank can basically be split into two categories: (1) traditional CD rates and (2) jumbo cd rates. State Farm traditional CDs require a minimum deposit of only $500 to open, whereas State Farm Bank jumbo CDs require a minimum deposit of $100,000. While State Farm CDs come in many different term lengths, we will focus on just a couple of interesting CDs.

One interesting CD that we found is the State Farm 9 month CD. In both the traditional CD and the jumbo CD, this “special CD” has an interest rate of 3.73 percent and an Annual Percentage Yield (APY) of 3.80 percent. That seems like a pretty attractive rate for a nine month CD.

If you are looking for longer term certificates of deposit for your CD ladder, you will be interested to know that State Farm 2, 3, 4 and 5 year CDs all have Annual Percentage Yields above 4.00 percent. The Jumbo CD rates tend to run about 0.05 percent higher than the traditional CD. Topping the list of State Farm CD interest rates is the jumbo 5 year CD, with an APY of 4.30 percent.

Therefore, if you are looking for either a traditional or jumbo CD, you might take a look at CD rates at State Farm Bank. Please remember that rates and terms can vary by location and change with time, so
check that State Farm online web site to confirm the deals available in your town.

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State Farm Bank CD Rates