Best CD Rates Info

So far, the certificates of deposit reviewed by Best CD Rates Info have all been from traditional financial institutions; that is, banks and savings & loan associations. However, for a few years now insurance companies have been able to provide banking services also, so we decided to see if we could find some high interest rate CDs from an insurance company.

Our search for the best CD rates lead us to a review of State Farm Bank CD rates. Two State Farm CDs caught our attention. One is a promotional short term CD, the other is a long term CD, so you could cover two rungs of your CD ladder with these products!

The State Farm Bank 9 Month CD is being offered at a very interesting promotional rate as of the date of this writing. This CD currently offers an interest rate of 3.10 percent, and an Annual Percentage Yield of 3.15. In our opinion, that’s not a bad rate for a short-term CD, especially when you consider that the minimum deposit for this CD is only $500.

The State Farm Bank 5 Year CD also has an attractive rate, both in the jumbo CD and non-jumbo (standard) versions. The State Farm standard five year CD is currently offered with an interest rate of 3.44 percent and an Annual Percentage Yield of 3.50 percent, and has a minimum opening balance of $500. The State Farm jumbo five year CD is currently being offered with an interest rate of 3.49 percent and an Annual Percentage Yield of 3.55 percent.

So, whether you are looking for a short term or long-term CD, you may want to add State Farm Bank to your lists of CD providers to consider. Rates and terms can vary, so please be sure to check the State Farm Bank web site for their current offerings in your area.