Farmers & Merchants State Bank: Savings Accounts, CDs, Money Market & Rates

Updated: 8/21/2026

Mission: Banksparency aims to make Farmers & Merchants State Bank's deposit accounts transparent and comparable to the market.

Interest rates reported as APY

Analysis of Farmers & Merchants State Bank

Our verdict

CD Analysis

Farmers & Merchants State Bank offers CDs paying up to 4.00% APY on its 6 months term, across 10 term lengths.

Tracking 13 active CD products, useful for locking in today's rate before further moves at the Fed.

Best CD use: locking in 4.00% APY for a 6 months term and laddering across multiple maturities.

Farmers & Merchants State Bank also offers Platinum Savings, a high-yield savings account paying 2.52% APY with a $100,000 minimum deposit.

At 2.52% APY, Farmers & Merchants State Bank pays 7x the national savings average of 0.38%.

Additional Accounts

Premium Money Market, a money market account at 2.04% APY.
Money Market, a money market account at 0.31% APY.
Personal Savings, a savings account at 0.07% APY.

Ideal User Profile

Best for: simple saving without extra requirements.

IRA Analysis

Farmers & Merchants State Bank also offers an IRA savings account paying up to 0.07% APY.

Tracking 1 active IRA savings product, useful for tax-advantaged retirement savings.

Best IRA use: tax-advantaged retirement saving.

Important Considerations

No app ratings available for this bank.

iOS app rating is not available.

Android app rating is not available.

Deposit Accounts Overview

Custodial Savings

Savings Top 20 Rate

5.00% APY

Tiered Range: 0.50% - 5.00%

StableNo rate changes in last 7 days

No Minimums Branch Access

Rank #1 of 337 tracked.

Youth Savings

Savings Top 20 Rate

5.00% APY

Tiered Range: 0.50% - 5.00%

StableNo rate changes in last 7 days

No Minimums Branch Access

Rank #2 of 337 tracked.

Platinum Savings

Savings

2.52% APY

Tiered Range: 0.22% - 2.52%

StableNo rate changes in last 7 days

Min: $100,000 Branch Access

Rank #128 of 337 tracked.

Holiday Savings

Savings

1.25% APY

StableNo rate changes in last 7 days

Min: $10 Branch Access

Rank #150 of 337 tracked.

Personal Savings

Savings

0.07% APY

StableNo rate changes in last 7 days

Min: $100 Branch Access

Rank #272 of 337 tracked.

Premium Money Market

Money Market

2.04% APY

Tiered Range: 0.16% - 2.04%

Min: $250,000 Branch Access

Money Market

0.31% APY

Tiered Range: 0.16% - 0.31%

Min: $2,500 Branch Access

IRA Passbook Savings

IRA Savings

0.07% APY

StableNo rate changes in last 7 days

Min: $100 Branch Access

Market Reality Check

This institution offers rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.

See Top Rates

National Avg: 0.38% (FDIC, 8/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationWaterloo, WI
Deposit InsuranceFDIC Insured(Cert: 13242)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	0
Min. Balance in Savings Account	0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

EASY TRANSFERS, LOW MINIMUMS

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FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.20%APY

Go to Quontic Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	10000
Min. Balance in Savings Account	0
Mobile Ratings	iOS:4.8 Android:4.9

Deposit Accounts: In-Depth View

Savings Accounts Offered by Farmers & Merchants State Bank

Feature	Custodial Savings	Youth Savings	Platinum Savings	Holiday Savings	Personal Savings
APY	5.00%Range: 0.50% - 5.00%Verified: 8/21/2026	5.00%Range: 0.50% - 5.00%Verified: 8/21/2026	2.52%Range: 0.22% - 2.52%Verified: 8/21/2026	1.25%Verified: 8/21/2026	0.07%Verified: 8/21/2026
APY Trend	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days	StableNo rate changes in last 7 days
Min. Deposit	N/A	N/A	$100,000	$10	$100
Min. Balance	N/A	N/A	N/A	N/A	N/A
Monthly Fee	N/A	N/A	N/A	N/A	N/A
Direct Deposit	None	None	None	None	None
Checking Bundle	No	No	No	No	No
In-Branch Access	Yes	Yes	Yes	Yes	Yes
Compounding	Quarterly	Quarterly	Quarterly	Annually	Quarterly
FDIC Insured	Yes	Yes	Yes	Yes	Yes
Eligibility	Only one account per custodian tax identification number.	Only one account per minor tax identification number.	Must open in branch or by the bank's online deposit inquiry form.	Must open in branch or by the bank's online deposit inquiry form.	Must open in branch or by the bank's online deposit inquiry form.
Next Steps	-	-	-	-	-

Interactive Tool

Calculate Savings for Farmers & Merchants State Bank

All calculations are based on APY.

Choose savings account

Initial deposit

Recurring deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,985.40(12.4%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,985.40

Effective APY

5.00%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Farmers & Merchants State Bank Deposit Rates Over Time

No historical data available.

Compare with Farmers & Merchants State Bank

Feature	Current View Farmers & Merchants State Bank	Empty Slot
Product		-
APY	0.50% - 5.00%Verified: 8/21/2026	-
APY Trend	StableNo rate changes in last 7 days	-
Min. Deposit	N/A	N/A
Monthly Fee	N/A	-
Direct Deposit	No	-
Checking Bundle	No	-
In-Branch Access	Yes	-
Eligibility	Only one account per custodian tax identification number.	-
Compounding	Quarterly	-
FDIC or NCUA Insured	Yes	-
Next Steps	-	-

CD Overview

4.00% Highest APY

Across 13 CD products with terms: 24 months, 60 months, 36 months, 18 months, 12 months, 48 months, 20 months, 6 months, 9 months, 25 months

CD Products Offered by Farmers & Merchants State Bank

Feature	6 Month CD Special 6 months	90 Day Option CD 9 months	12 Month CD 12 months	18 Month CD 18 months	20 Month Dream Builder CD 20 months	24 Month Reverse CD 24 months	24 Month CD 24 months	25 Month CD Special 25 months	36 Month CD 36 months	36 Month Reverse CD 36 months	48 Month Reverse CD 48 months	60 Month CD 60 months	60 Month Reverse CD 60 months
APY	4.00%Verified: 8/21/2026	3.85%Verified: 8/21/2026	2.75%Verified: 8/21/2026	3.50%Verified: 8/21/2026	3.25%Verified: 8/21/2026	3.50%Verified: 8/21/2026	3.25%Verified: 8/21/2026	3.65%Verified: 8/21/2026	3.05%Verified: 8/21/2026	3.50%Verified: 8/21/2026	3.50%Verified: 8/21/2026	3.05%Verified: 8/21/2026	3.50%Verified: 8/21/2026
Term	6 months	9 months	12 months	18 months	20 months	24 months	24 months	25 months	36 months	36 months	48 months	60 months	60 months
Min. Deposit	$500	$500	$500	$500	$20	$500	$500	$500	$500	$500	$500	$500	$500
Early Withdrawal	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes	Yes

Farmers & Merchants State Bank CD Rates Over Time

Money Market Accounts Offered by Farmers & Merchants State Bank

Feature	Premium Money Market	Money Market
APY	2.04%Range: 0.16% - 2.04%Verified: 8/21/2026	0.31%Range: 0.16% - 0.31%Verified: 8/21/2026
Min. Deposit	$250,000	$2,500
Min. Balance	N/A	N/A
Monthly Fee	N/A	N/A
Direct Deposit	None	None
In-Branch Access	Yes	Yes
Compounding	Monthly	Monthly
FDIC Insured	Yes	Yes
Eligibility	Must open in branch or by the bank's online deposit inquiry form.	Must open in branch or by the bank's online deposit inquiry form.

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