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State Farm is well-known as one of the United States’ biggest insurance giants. State Farm Bank, established in 1999, is the institution’s separate banking entity offering personal deposit accounts available online with rates better than your traditional big banks.
State Farm Bank offers a full line of deposit accounts, including Checking, Savings, Money Market, CD and IRA options. There are no physical branches to service your accounts, which are all available online, nationwide.
I’ll review the best current offers from State Farm Bank below.
State Farm Bank Money Market Savings Rate Offer
- Available online, nationwide
- Competitive rate and FDIC insured up to applicable limits
- Make deposits from home or on the go with MyTime Deposit
- Convenient online banking and bill payment
- ATM Fee rebates up to $10 per statement cycle or unlimited with direct deposit.
- Minimum opening deposit is $1,000
- Deposit program requires a Consumer Checking or Interest Checking AND a Consumer Money Market Savings with the same ownerships.
- Requirements to earn the Relationship Rates are qualifying activity in the Checking or Interest Checking account(s) of $2,500+ daily balance OR 10 withdrawal transactions.
- If the Checking or Interest Checking requirements are not met, the Money Market Account(s) will earn the Standard Rates.
- If you have multiple Qualifying checking accounts with the same ownership as Your Benefit Account, the balances and transactions for those Checking and/or Interest Checking accounts will be added together to determine Benefit eligibility.
- Deposit Introductory program offers a high yield fixed Introductory Rate during the first 12 statement cycles after opening a new Consumer Money Market Savings account with State Farm Bank.
- A new Consumer Money Market Savings account means you cannot have an existing Money Market Savings with the same ownership currently open or which closed within the last 12 months.
- The new Money Market Savings must be a Personal or Trust account.
- IRA Money Market , Estate, Uniform Transfer to Minors, and Business accounts are NOT eligible.
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