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Farmers State Bank In Indiana Offering 2.02% APY On 37-Month CD, Available Nationally

Saturday, March 10, 2012 - 10:26 AMFarmers State Bank (IN) - Details
Farmers State Bank in Indiana is offering a 37-Month CD at 2.02% APY. They previously told me on the phone that their accounts are available nationally. (I note, their previous 25-month CD at 1.81% APY is no longer listed.)

The CD requires that you also have an "active relationship account," which means a checking account. They told me on the phone previously that you must set up either direct deposit or automatic payment with that checking account in order to have the "active relationship." I see at their Website that they do offer a free checking account with no fees, no minimum, and free bill pay; I guess the bill pay could be used to cover the "relationship" if you could not set up a direct deposit.

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 or ACH.

The early withdrawal penalty is 6 months of interest.

You can see their CD rates, including this 37-month CD, at:


You can dial them toll free at (888) 480-2408.
me1004me1004373 posts since
Jan 16, 2010
Rep Points: 2,598
1. Monday, March 12, 2012 - 7:15 PM
When I inquired about this CD this morning, the CSR (Brianna) told me
Farmers State Bank did NOT accept out of state applications.

I related to her the information I had read to the contrary:
> ...They previously told me on the phone that their accounts are available
> nationally...
and got to speak with a Branch Manager (Becky), who reiterated the only-for-
locals policy.  She also said they had received several additional out of
state requests to date.
cumuluscumulus358 posts since
Jan 16, 2010
Rep Points: 1,675