State Farm Bank CD Rates July 23, 2010

State Farm Bank CD rates are certainly not as well as known as the parents company’s insurance products; however Sate Farm Bank frequently offers very competitive CD interest rates among select CD maturities.

State Farm Bank is headquartered in Bloomington, IL and offers the bank CDs online to all U.S. locations. State Farm Bank is an FDIC insured bank and has certificates of deposit that cover a wide range of maturities as well as jumbo CDs, bank IRA CD accounts and Coverdell Education savings account CDs.

Standard bank CD terms are available from 3 months to 60 months in length. The minimum opening deposit is $500.00 which can be funded by electronic funds transfer from an existing bank account.

Interest earned on the certificates is compounded daily. Accrued interest on the bank CDs can be held in the CD account or paid to the account holder by check or deposited to another State Farm Bank account or electronically transferred to another financial institution.

State Farm Bank CD rates vary by geographic location. To sample current CD rates, Los Angeles, California was chosen for the current rate survey. The CD rates in CA were similar in 20 other states sampled. CA CD rates and terms for deposits under $100,000.00 offered by State Farm Bank include:

3 month CD rate at 0.35%
6 month CD rate is 0.47%
1 year CD rate is 1.16%
2 year CD rate in CA is 1.35%
3 year CD interest rate is 1.63%
4 year State Farm CD rate in CA is 2.04%
5 year bank rate is 2.54%

Bank CD interest rates may change at the Bank’s discretion. Additional conditions may apply to open the accounts. For current CD rates, a State Farm Bank representative can be reached at 877-734-2265.

Based on a sample of 20 state locations, State Farm Bank IL CD rates were the same as were the TX CD rates, NY CD rates, FL CD rates, NJ CD rates, VA CD rates, WA CD rates, MA CD rates, IN CD rates, AZ CD rates, TN CD rates, MO CD rates, MD CD rates, WI CD rates, OH CD rates, GA CD rates, NC CD rates, PA CD rates as well as MI CD rates.

State Farm Bank CD rates are competitive with other large banks and credit unions.
In addition, State Farm Bank also offers a competitive online money market account that earns an interest rate of 0.80% for

To review of a list of the best CD rate available nationally by term refer to the following sections on the home page of Selectcdrates.com, 6 month CD rates, 1 year CD rates, 2 year CD rates, 5 year CD rates.

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This entry was posted on Friday, July 23rd, 2010 at 1:43 pm and is filed under State Farm CD. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.