farmbureaubank.com | Certificates of Deposit (CDs)
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Farm Bureau Bank Certificates of Deposit Certificates of Deposit (CDs)

Farm Bureau Bank CDs offer competitive rates and guaranteed returns for the length of the term you choose. Plus, Farm Bureau Bank CDs are now FDIC-insured up to $250,000 per depositor.

Certificates of Deposit Highlights

Overview
  • Competitive Rates
  • Flexible terms from 3 months to 5 years
  • Monthly interest can be added back to CD balance or credited to another Farm Bureau Bank deposit account
  • Jumbo CD option – earns higher interest for deposits at $50,000 or greater
  • Step-Up CD option – allows a one-time rate increase
  • Certificate of Deposit Account Registry Service® (CDARS) – Full FDIC insurance for deposits up to $50 million. Learn more
Minimum Initial Deposit Standard - $1,000
Jumbo - $50,000
CDARS - $100,000
Free Internet Banking Free 24-hour phone and Internet access
Monthly Service Fees None. There are no fees to open or maintain the account. See Deposit Account Terms and Conditions tab for details and penalties for early CD withdrawals.
Certificates of Deposit Specials
Product Interest Rate Annual Percentage Yield*
14 Month CD Step Up Option    0.45% 0.45%
14 Month CD 0.55% 0.55%
26 Month CD 0.70% 0.70%
37 Month CD 1.15% 1.16%
62 Month CD 2.05% 2.07%
Minimum Initial Deposit $1,000. CD Rates and Annual Percentage Yields valid for IRAs.

Certificates of Deposit
Terms Interest Rate Annual Percentage Yield*
3 Months
    Jumbo CD   
0.10%
0.15%
0.10%
0.15%
6 Months
   Jumbo CD   
0.10%
0.15%
0.10%
0.15%
1 Year
   Jumbo CD   
0.35%
0.40%
0.35%
0.40%
18 Months
   Jumbo CD   
0.40%
0.45%
0.40%
0.45%
2 Years
   Jumbo CD   
0.60%
0.65%
0.60%
0.65%
3 Years
   Jumbo CD   
0.90%
0.95%
0.90%
0.95%
4 Years
   Jumbo CD   
1.30%
1.35%
1.31%
1.36%
5 Years
   Jumbo CD   
1.50%
1.55%
1.51%
1.56%
Minimum Initial Deposit $1,000, Minimum for Jumbo CDs >= $50,000. CD Rates and Annual Percentage Yields valid for IRAs.

Certificates of Deposit with Step Up Option
Terms Interest Rate Annual Percentage Yield*
1 Year
   Jumbo CD   
0.25%
0.30%
0.25%
0.30%
18 Months
   Jumbo CD   
0.30%
0.35%
0.30%
0.35%
2 Years
   Jumbo CD   
0.35%
0.40%
0.35%
0.40%
3 Years
   Jumbo CD   
0.50%
0.55%
0.50%
0.55%
4 Years
   Jumbo CD   
0.45%
0.50%
0.45%
0.50%
5 Years
   Jumbo CD   
0.50%
0.55%
0.50%
0.55%
Minimum Initial Deposit $1,000

Certificates of Deposit - Product Types

Jumbo CD
Jumbo CDs are perfect for those looking to earn a higher yield on larger sums of money. Open your Farm Bureau Bank Jumbo CD with as little as $50,000.

Step-Up CD
Farm Bureau Bank’s Step-Up option allows a one-time rate increase during the term of your CD. You have the flexibility to choose when to step-up and earn more interest.

CDARS
Because Farm Bureau Bank participates in a nationwide network of FDIC-insured financial institutions, we can provide full FDIC coverage for deposits up to $50 million. After you choose the maturity, your funds are placed into certificates of deposit issued within the CDARS bank network in increments of less than $100,000. This way both principal and interest are completely protected under FDIC regulations and managed solely by Farm Bureau Bank. For more information about CDARS, or to apply, call a Farm Bureau Bank Personal Banker at 800.492.3276 or contact us by email.

IMPORTANT INFORMATION ABOUT YOUR CERTIFICATE OF DEPOSIT

Early Withdrawal Penalties Your time deposit may not be withdrawn prior to maturity, in whole or in part, except with our consent. If we permit early withdrawal, we may impose a substantial penalty for early withdrawal of up to 50% of the simple interest projected to be earned over the term of the time deposit. The penalty may result in the loss of principal. In certain circumstances, such as death or incompetence of an account owner, the law permits the waiver of the penalty.
Deposit/Withdrawal Limitations After the account is open, you may not make deposits into the account until the maturity date stated on the account. You may make withdrawals of interest credited to your account prior to maturity. The annual percentage yield quoted by the bank assumes interest remains on deposit until maturity. Withdrawals prior to maturity will reduce earnings.
Automatically Renewable Your account will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. All promotional terms that are less than 2 years will automatically renew for a 1-year term and those that are 2 years or greater will automatically renew for a 3-year term at the current rate beginning on the maturity date. Unless we tell you otherwise, the interest rate will be the same we offer on other new certificate of deposit accounts on the maturity date which have the same term, minimum balance (if any) and other features as the original certificate of deposit account. You will have grace period of ten calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. You may prevent renewal if you withdraw the funds in the account at maturity or within the grace period or we receive written/telephone/electronic notice from you before maturity of your intention not to renew.
Step-Up Option If you have selected the Step–Up Option for a certificate of deposit with a term of 1 year or greater, the owner(s) is (are) given the option by the Bank to adjust the interest rate once during the term of the deposit prior to the maturity date. The rate adjustment will apply for the remainder of the term. If the time deposit is renewed, your option to adjust the rate is also renewed. To exercise the option, contact a Personal Banker at 1-800-492-FARM (3276). Executing the rate adjustment option will not affect any other condition of the time deposit. The rate available for adjustment will be the current rate, as of the date of adjustment, offered by the Bank for time deposits with matching terms and balances.

Certificates of Deposit - Fees

The following fees may be assessed against your account:

Outgoing wire transfer $20.00
Account research $15.00 per hour, ½ hour minimum
Copy of check (per check) $1.00
Cashier's Check $5.00 each
Early Withdrawal Penalties Your time deposit may not be withdrawn prior to maturity, in whole or in part, except with our consent. If we permit early withdrawal, we may impose a substantial penalty for early withdrawal of up to 50% of the simple interest projected to be earned over the term of the time deposit. The penalty may result in the loss of principal. In certain circumstances, such as death or incompetence of an account owner, the law permits the waiver of the penalty.

 

*Annual Percentage Yield. Interest Rates and Yields shown are effective as of 04/18/2014. For deposit accounts, interest is compounded daily and paid monthly. Farm Bureau Bank deposit accounts are FDIC insured up to $250,000 per depositor. Fees could reduce earnings on the account. Interest rates and corresponding APYs may change at the bank’s discretion.

Minimum initial deposit for CDs is $1,000. There is a substantial penalty for early withdrawals from CDs. The interest rate paid on new CD accounts will be equal to the greater of (1) the interest rate that is in effect on the date a mailed application is postmarked or, (2) the interest rate that is in effect on the date the funds are received by the bank.

Funds may be submitted for placement only after a depositor enters into a CDARS agreement with us. The agreement contains important information and conditions regarding the placement of funds by us. CDARS (CD Account Registry Service) is a service mark of Promontory Interfinancial Network, LLC.



* Rates disclosed as Annual Percentage Rate (APR) and Annual Percentage Yield (APY). Farm Bureau, FB, and the FB National Logo are registered service marks owned by, and used by Farm Bureau Bank FSB under license from, the American Farm Bureau Federation. Farm Bureau Bank FSB is a service-to-member institution which provides banking services to Farm Bureau members and others in participating states. Services are not available in the following states: AL, IL, KS, MI, MO, NJ, NY, OH, and WY.


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