PurePoint Financial offers competitive interest rates on each CD term. Their interest rates are competitive with other online CD accounts. PurePoint rates are some of the leaders in the market of online CD accounts. The interest rates are not tiered. Any amount over $10,000 earns the most competitive interest rate offered.

There are four ways to fund your PurePoint CD accounts. Fund your account through an online electronic transfer from a linked account. You can also fund your account through a mobile deposit, a wire transfer, or by mailing in a check. You can only make a deposit into PurePoint CDs when you open the account.

There are a variety of CD terms available through PurePoint Financial. The terms range from six-months to five-years. There is a total of nine CD terms offered. Each of the terms requires $10,000 to open.

PurePoint Financial offers its Best Rate Commitment. Once you fund your PurePoint CD, they watch the rates for ten days. During that time, whatever is the highest rate offered will be the rate you receive for the duration of the CD term. If you renew your CD for the same term, you are again given the ten-day period to lock in the highest rate.

To open PurePoint CDs requires a high amount. Each term requires $10,000 to open. Once you open the account, you earn the most competitive interest rates for any balance over $10,000. PurePoint CDs do not have tiered interest rates.

There is a fee if you withdraw money from your PurePoint CD before it reaches maturity. The fee for any CD term length is 181 days of interest on the withdrawn amount. That fee applies to every PurePoint CD.

The opening required amount to open PurePoint CDs is $10,000. That amount must come from a one-time deposit of at least that amount. The deposit can only come from a single account. If PurePoint does not receive that funding within 45 days, they will close the account. Once you open and fund a CD, you cannot deposit into the CD during the life of the CD term.

To open an account with PurePoint Financial requires signing up for online banking. It does not matter if you open an account over the phone, online, or in person. If the primary account holder does not enroll in online banking within 90 days, PurePoint will close the account. If you open an account over the phone, you only have 30 days to enroll in online banking. A valid email address is also required.

Read the full PurePoint Financial review.

The set amount required to open State Farm Bank CDs is low. Each regular CD term only requires $500 to open. You must keep $500 in the CD to earn interest. State Farm Bank offers personal deposit CDs and business CDs. The required amount is the same for business and personal CDs. To open a jumbo CD requires $100,000 to open.

State Farm Bank offers a good variety of CD terms. They offer CDs specific to personal deposit and business CDs. There are six different CD term lengths for personal deposits as well as business CDs. The terms range from 12-months to 60-months. State Farm Bank also offer jumbo CDs in the same terms as regular CDs.

The interest rates for State Farm Bank CDs are competitive. They are competitive with other online CDs. All the CD terms offer rates competitive with other online CDs of the same term length. The rates of State Farm Bank CDs are much higher than typical bank interest rates. You must keep $500 in the regular CDs and $100,000 in the jumbo CDs to earn interest.

State Farm Bank CDs can be opened online. You can fund your account by linking an external account to your State Farm CDs. Once you are approved for an account, your account is completely online. You can view everything for your State Farm accounts online or on their mobile app.

State Farm Bank does not offer CD terms shorter than 12-months. They do not offer a three, six, or nine-month CD terms. The shortest terms available is the 12-month term. This term is available as a personal deposit CD as well as a business CD term.

State Farm Bank does not offer an interest rate guarantee. If you open a CD with State Farm and the interest rates increase soon after, your rate does not increase. The interest rate on the day you open your CD is the rate you receive for the entire CD term.

All State Farm Bank CDs have a fee if you withdraw money before the CD reaches maturity. The penalty for early withdrawals is high. If you withdraw money from a CD term between 12 and 23 months, the fee is 180 days of interest. For terms from 24 to 47 months, the fee is 365 days of interest. The fee is 545 days of interest if you withdraw money early from CD terms for longer than 48 months. There is also a minimum withdrawal penalty of $25 if your fee does not total more than that.

State Farm Bank offers jumbo CDs. To open a jumbo CD requires an opening balance of $100,000. The interest rates for the jumbo CDs are the same as the regular CD rates. These CDs do not offer interest rates any higher than the other CD rates. Jumbo CDs are available in personal deposit accounts and business accounts.

Read the full State Farm Bank review.