State Farm CD Rates Update
It’s been quite a while since we had a look at State Farm Bank CD rates, so we here at Best CD Rates Info thought we should check them and let you know how they’re doing now.
They aren’t too competitive with national rates at some institutions, but they are solid rates and most people who use State Farm CD rates are making backup investments or baseline coverages anyway. State Farm Bank certificate of deposit rates are definitely good for that.
All standard CD accounts require a $500 minimum at State Farm. A 90-day term gives 0.45% annual percentage yield (APY) as best CD rates here. 180 days yields 0.72% APY and State Farm CD rates on 1 year terms is 1.34% APY. 2 years get 1.72% APY while 3 years gets 1.88% APY.
For the longer terms, State Farm Bank CD rates are 1.99% APY on a four year term and 3.00% APY on a five year term. Those are competitive with many national rates, so these are good State Farm Bank certificate of deposit rates for long term consideration.
Jumbo accounts have slightly higher, usually by about 0.02% for each term. These accounts, of course, require $100,000 or more deposited to get the best CD rates.
IRA terms for State Farm Bank CD rates are at rates about the same as standard CDs, which is unusual at many banks.
State Farm Bank is FDIC insured to the fullest extent of the law. If you see any State Farm CD rates that appeal to you, lock yours in now and the best CD rates can change at any time.
