bank rates

State Farm Bank Now Owns Top 3-Year CD

State Farm Bank has broken through the 36-month CD logjam.

In raising rates, the online bank of the insurance company now offers the highest yielding nationally available 3-year bank CD in nearly a year.

With a $500 minimum deposit, State Farm Bank (www.statefarm.com) pays 1.50% APY. A bank last topped our CD Rates Leaderboard with a yield this high in October 2013.

State Farm now narrowly edges out three other banks it had been tied with for the top rate at 1.45% APY.

Still, this offer is less than the top 24-month bank CD, which pays 1.55% APY. And there are several nationally available credit union deals that pay more.

How 3-year credit union rates compare

Institution APY Min. Deposit
Connexus Credit Union 1.75% $10,000 / Checking account required
USAlliance Federal Credit Union 1.71% $500
Melrose Credit Union 1.66% $5,000
First Tech Federal Credit Union 1.60% $500

We track nationally available rates from 29 banks. Follow the daily changes to the best 36-month CD rates on our list.

The bank also raised rates in two other terms. It pays 2.00% APY on 48-month CDs and 2.25% APY on 60-month CDs. Both are competitive offers.

Banks qualify for our rankings by imposing no restrictions on who can buy their certificates of deposit, either online or through the mail.

Compare these returns with the best CD rates from scores of banks in our extensive database.

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