Find the latest State Farm Bank CD Rates, Offers, and Promotions here.
Available for residents nationwide, State Farm Bank is offering 0.75% APY when you open an account.
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About State Farm Bank Money Market
State Farm Bank is a mid-sized bank that was organized as a separate entity from the insurance’s main business.
With such great money market rates you can earn big! The account gives you access to savings, checking, money market, Certificate of Deposit (CD), and IRA accounts.
I’ll review State Farm Bank Money Market below.
State Farm Bank Money Market Rate
In order to earn the high rate with State Farm Bank, all you need to do is meet all the requirements!
- Account Type: Money Market Savings
- Minimum Balance: $1,000
- Maximum Balance: $5,000,000
- Availability: Nationwide (Bank Locator)
- Credit Inquiry: Unknown
- Chexsystems: Unknown
- Opening Deposit: $1,000
- Credit Card Funding: Unknown
- Monthly Fee: $15, waived with a daily minimum balance of $500
- Early Termination Fee: None
American Express® High Yield Savings Account - You earn 0.40% interest rate along with no minimum deposits or monthly fees. Amex High Yield Savings account has been my favorite Hub account for the past 7 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the high yield savings account website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express High Yield Savings Account include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos Bank and CIT Bank accounts offer great rates available nationwide which I recommend.
|Discover Bank Online Savings||$200 Bonus + 0.40% APY||Review|
|Aspiration||1.00% APY + $150 Cash||Review|
|Axos Bank High Yield Savings||Up to 0.61% APY||Review|
|Quontic Bank High Yield Savings||0.55% APY||Review|
|CIT Bank Money Market||0.45% APY||Review|
|American Express High Yield Savings||0.40% APY||Review|
State Farm Bank ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
|Push||?||?||?||6 per statement cycle|
|Pull||?||?||?||6 per statement cycle|
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Receive State Farm Bank Rate
- Open a new Money Market Savings account with an opening deposit of $1000
- You’ll need contact information, current bank information or a check to fund your new account
- Each individual on the account must have a Social Security number (SSN), Tax Identification Number (TIN), or Individual Taxpayer Identification Number (ITIN)
- At least one account holder must be age 18 or older
|Balance Requirement||APY Rate|
|$1,000 or more||0.75% APY|
Why You Should Sign Up For This Account
- Variable, tiered interest rate
- Interest is compounded daily and credited to your account monthly
- This account is FDIC insured
- Complimentary ATM card available
- No fee for ATMs used that are owned by State Farm Bank
If you’re looking for a great personal checking account, then check out State Farm Bank’s Money Market. This account can earn you a competitive rate. You can open the account with a simple $1,000 opening deposit and start earning!
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on State Farm Bank Money Market Account.