State Farm Insurance Bank is offering a pretty good deal on it’s “special 28 month” certificates of deposit. 28 month’s is certainly an odd maturity, but this looks to be one of the shortest durations for 3% yields.

As of June 24, 2009 State Farm Insurance Bank is offering new and existing customers a 28 month CD yielding 3% APY with a minimum deposit amount of $500.

Many of us just recognize State Farm as an insurance corporation, however within just the last few years State Farm has aggressively entered the financial arena offering banking products and mutual funds.

Current State Farm CD Rates:

(as seen on their rates page)

90 day CD yielding 0.64%

180 day CD yielding 1.26%

1 year CD yielding 1.80%

2 year CD yielding 1.94%

28 month CD yielding 3.00% APY

3 year CD yielding 2.09%

4 year CD yielding 2.80%

5 year CD yielding 2.89%

State farm is a member FDIC.  Your deposits will be insured up to $250,000.

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