Highest CD Rates Info

Highest CD Rates Info decided to check into State Farm Bank CD rates to see how they stack up to the competition. Not that long ago (perhaps 10 years ago, now) insurance companies could not engage in banking business, but that has changed and we were eager to see how one of the largest insurance companies in the United States fared in our search for the best 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.