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Farmers State Bank In Indiana Offering 1.81% APY On 25-Month CD, Available Nationally

Thursday, February 23, 2012 - 12:17 PMFarmers State Bank (IN) - Details
Farmers State Bank in Indiana is offering a 25-Month CD at 1.81% APY. They told me on the phone it is nationally available. It requires that you also have a checking account "relationship." They told me on the phone that you must set up either direct deposit or automatic payment with that checking account in order to have the "relationship." I see at their Website that they do offer a free checking account with no fees, no minimum, and free bill pay, which I guess could cover the "relationship."

This is available for new money only. $1,000 minimum.

Documents required for opening include a notarized copy of your driver's license. They told me the account can be opened by mail. You might want to ask if it also can be opened by fax and ACH.

The early withdrawal penalty is 6 months of interest.

You can see their CD rates, including this 25-month CD, at:

DEPOSIT RATES

You can dial them toll free at (888) 480-2408.
 
3
me1004me1004373 posts since
Jan 16, 2010
Rep Points: 2,596
1. Monday, February 27, 2012 - 3:49 PM
I'm afraid this may no longer be nationally available. As is typical, small banks often restrict availability if they get too much demand. I just received the following email reply from the bank:
In response to your request for information concerning our 25 month relationship CD. We currently do not open accounts by mail for customers outside of our 5 county area and contiguous surrounding areas.

2
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,600
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