Bank · FDIC insured
Farmers & Merchants State Bank CD Rates
Farmers & Merchants State Bank’s best CD rate is 4.50% APY on a 25-month CD. Terms run from 6 months to 5 years. Rates checked October 16, 2026.
How Farmers & Merchants State Bank’s CD rates compare
Compared with banks and credit unions near Watertown, WI, where Farmers & Merchants State Bank has the most branches. $10,000, best rate first.
This bank’s best
Farmers & Merchants State Bank
4.50%APY
- Term
- 25 months
- Minimum
- $500
- Earns on $10,000
- $960
Certificates of Deposit
Top rate
Fort Community Credit Union
5.15%APY
- Term
- 60 months
- Minimum
- $250
- Earns on $10,000
- $2,854
2nd-highest rate
Summit Credit Union
4.50%APY
- Term
- 16 months
- Minimum
- $500
- Earns on $10,000
- $604
Farmers & Merchants State Bank CD score
96
CD score
Higher than 98% of U.S. banks and credit unions
- 3–8 months3–8 mo4.00%
- 9–15 months9–15 mo4.05%
- 16–30 months16–30 mo4.50%
- 31–60 months31–60 mo4.50%
- QualifiedQualified4.50%
Each track runs from the lowest to the highest rate among U.S. banks and credit unions; the dot is this rate.Qualified: needs another account or monthly activity.
Where Farmers & Merchants State Bank ranks
By CD score, in each area where it has branches
Every rate
Current CD rates
Rates from the bank’s website. Earnings assume the rate doesn’t change.
Certificates of Deposit
Up to 4.50%APY · 9 terms
Early withdrawal of funds is subject to penalty. Rate is based on term length.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 6 monthsCompounded at maturity | 4.00% | $198 |
| 12 monthsCompounded annually | 2.75% | $275 |
| 13 monthsCompounded annually. No IRA or HSA | 4.05% | $439 |
| 18 monthsCompounded annually | 3.50% | $530 |
| 20 months10 for 10 Specials. Compounded annually. No IRA or HSA | 4.30% | $727 |
| 20 months10% of the total CD amount must be funds from another financial institution; funds from any F&M deposit account do not qualify for the increased rate. Compounded annually. No IRA or HSA | 4.40% | $744 |
| 24 monthsCompounded annually | 3.25% | $661 |
| 25 months10 for 10 Specials. Compounded annually. No IRA or HSA | 4.40% | $939 |
| 25 months10% of the total CD amount must be funds from another financial institution; funds from any F&M deposit account do not qualify for the increased rate. Compounded annually. No IRA or HSA | 4.50% | $960 |
| 36 months10 for 10 Specials. Compounded annually. No IRA or HSA | 4.40% | $1,379 |
| 36 months10% of the total CD amount must be funds from another financial institution; funds from any F&M deposit account do not qualify for the increased rate. Compounded annually. No IRA or HSA | 4.50% | $1,412 |
| 60 monthsCompounded annually | 3.05% | $1,621 |
Sources (2)
All captured Oct 16, 2026
90 Day Option CD
3.85%APY · 1 term
9 month term CD with option to deposit or withdraw balance, without penalty, at each 90 day anniversary upon request of account holder. If entire balance is not withdrawn, the minimum balance must be maintained. Aggregate deposits during the 9 month term may not exceed $250,000. No institutional money. Health Savings Accounts (HSAs) are not available.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 9 monthsCompounded quarterly | 3.85% | $287 |
Sources (2)
All captured Oct 16, 2026
Reverse CD
3.50%APY · 1 term
A Certificate of Deposit that supplements income with fixed monthly funds from your certificate of deposit. Customer must have an agreed upon monthly automatic (no checks issued) disbursement/withdrawal that cannot be changed. Single Maturity, last disbursement/withdrawal will close the account. Health Saving Accounts (HSAs) are not available.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 24–60 monthsCompounded monthly. 24, 36, 48, and 60-month terms available | 3.50% | $712 |
Sources (2)
All captured Oct 16, 2026
Dream Builder CD
3.25%APY · 1 term
Must have minimum monthly automatic deposits of $20. IRA & HSA accounts are not available.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 20 monthsCompounded annually. Requires minimum monthly automatic deposit of $20 | 3.25% | $548 |
Sources (2)
All captured Oct 16, 2026
Special-purpose accounts
Individual Retirement Account (IRA) Certificates
Up to 4.40%APY · 7 terms
Early withdrawal of funds is subject to penalty.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 6 monthsCompounded at maturity | 4.00% | $198 |
| 12 monthsCompounded annually | 2.75% | $275 |
| 18 monthsCompounded annually | 3.50% | $530 |
| 24 monthsCompounded annually | 3.25% | $661 |
| 25 monthsCompounded annually | 4.40% | $939 |
| 36 monthsCompounded annually | 4.40% | $1,379 |
| 60 monthsCompounded annually | 3.05% | $1,621 |
Sources (1)
- fandmstbk.com/uploads/userfile…epositRates-combined.pdf · captured Oct 16, 2026
90 Day Option IRA CD
3.85%APY · 1 term
9 month term CD with option to deposit or withdraw balance, without penalty, at each 90 day anniversary upon request of account holder. If entire balance is not withdrawn, the minimum balance must be maintained. Aggregate deposits during the 9 month term may not exceed $250,000. No institutional money.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 9 monthsCompounded quarterly | 3.85% | $287 |
Sources (1)
- fandmstbk.com/uploads/userfile…epositRates-combined.pdf · captured Oct 16, 2026
Reverse IRA CD
3.50%APY · 1 term
Customer must have an agreed upon monthly automatic (no checks issued) disbursement/withdrawal that cannot be changed. Single Maturity, last disbursement/withdrawal will close the account.
| Term | APY | Earns on $10,000Earns |
|---|---|---|
| 24–60 monthsCompounded monthly. 24, 36, 48, and 60-month terms available | 3.50% | $712 |
Sources (1)
- fandmstbk.com/uploads/userfile…epositRates-combined.pdf · captured Oct 16, 2026
Opening an account
Confirm the bank’s opening requirements and whether the account is available where you live. A nearby branch does not establish eligibility for every rate.