SuperMoney
  State Farm Bank Standard CD

State Farm Bank Standard CD

in CD Accounts from US Bank · sipc

Unaffiliated

State Farm Bank Standard CD

Unaffiliated

in CD Accounts from US Bank · Member SIPC

Not enough votes for recommendation

Not enough votes for recommendation

Cast your vote

Would you recommend State Farm Bank Standard CD to your friends?

Thanks for your vote!

You voted: May or may not recommend

Highlights
Minimum Opening Deposit Starting at $500
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 9 months
APY (Annual Percentage Yield) 0.05% - 0.25%

State Farm Bank Standard CD Review

State Farm Bank Standard CD is offered by US Bank, a bank founded in 1863 and based in Minneapolis, MN. State Farm Bank Standard CD is available in 50 states (and Washington, DC).

Key Takeaways
  • Small selection of CD account types. State Farm CD only offers traditional and IRA CDs.
  • Very high APY. This account offers an annual percentage yield of up to 0.25%, which is much higher than the national average for a CD account.
  • $500 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
  • Wide selection of CD terms. State Farm CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of State Farm Bank Standard CD
Pros Cons
  • Multiple CD terms available.
  • Available in all 50 states.
  • High-interest yield.
  • No charge on incoming domestic or international wire transfers.
  • Not FDIC-insured.
  • There isn't a no-penalty CD option.
State Farm Bank Standard CD FAQ

Are cd accounts from US Bank federally insured?

No, your US Bank cd accounts deposits are not FDIC insured. However, they are insured up to $500,000, which includes a $250,000 limit for cash, by the Securities Investor Protection Corporation (SIPC). SIPC is a non government, nonprofit membership corporation that protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm.

What types of CDs does US Bank offer?

State Farm CD provides the following types of CDs.
  • Traditional CDs. These CDs pay a fixed interest rate i you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or rolling over the CD for another term.
  • IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but State Farm CD offers a CD that is specifically for retirement.

What CD rates does US Bank offer on its CDs?

State Farm CD offers an APY starting at 0.05% and ranging up to 0.25%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does State Farm CD offer?

US Bank offers CD terms of the following lengths:
State Farm Bank Standard CD Rates & Terms
Description
2-Year APY 0.05%
3-Month APY 0.05%
3-Year APY 0.1%
4-Year APY 0.15%
5-Year APY 0.25%
6-Month APY 0.05%
12-Month APY 0.05%
APY (Annual Percentage Yield) 0.05% - 0.25%

What is the minimum deposit to open a CD account with US Bank?

State Farm CD requires a minimum deposit of $500 to open an account.

What is the grace period for State Farm CD?

There is a 10-day grace period for State Farm CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does State Farm CD charge?

Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the CD term ends.

US Bank does not charge an early withdrawal fee.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From US Bank

Together, U.S. Bank and State Farm bring U.S. Bank deposit and credit card products and services to State Farm customers. This strategic alliance gives you access to U.S. Bank branches, ATMs and digital banking tools so you can bank how you want. This alliance will benefit you, offering easy ways to manage your banking needs.

When it comes to term lengths, this CD is flexible. You can go as short as three months to as long as five years. The Standard CD offers a lower minimum deposit compared to CD Special, and guaranteed rate for the duration of your term.

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

Minimum Opening Deposit Starting at $500
2-Year APY 0.05%
3-Month APY 0.05%
3-Year APY 0.1%
4-Year APY 0.15%
5-Year APY 0.25%
6-Month APY 0.05%
12-Month APY 0.05%
APY (Annual Percentage Yield) 0.05% - 0.25%
CD Accounts
  • Traditional
  • IRA
Grace Period for Account Changes 10 days
Certificate Term
  • 3 months
  • 6 months
  • 12 months
  • 2 years
  • 3 years
  • 4 years
  • 5 years
  • 18 months
  • 9 months

Be the first to rate

 

Would you recommend State Farm Bank Standard CD to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
(will require moderator approval)

Other CD Accounts

US Bank CD Accounts

Loading...