First Internet Bank of Indiana: CD Rates and Review

As the name implies, First Internet Bank of Indiana operates over the Internet. This means they don’t have the costly general expenses in which most brick and mortar banking institutions face. They claim that because of that their customers get better rates, lower fees, along with convenient account access through their online banking and telephone banking systems.

Benefits and Features of Banking with First Internet Bank of Indiana:

Real-Time Transaction Processing
Many traditional brick-and-mortar banks, and even many Internet-based banks, still rely on batch processing, which means customers’ transactions are not reflected until the following day. Further, many banks cannot offer the ability to move funds among the various accounts in a real-time environment. The technology that drives First IB allows them to offer real-time transaction processing and fully integrated accounts.

Flexibility
First IB accounts offer the flexibility customers need to handle even the most stressful financial situations. Their joint accounts allow customers to maintain private and shared accounts.

First Internet Bank of Indiana CD Rates:

- 3 month CD yielding 0.75% APY with a minimum balance of $1,000 required.

- 6 month CD yielding 1.00% APY with a minimum balance of $1,000 required.

- 12 month CD yielding 1.25% APY with a minimum balance of $1,000 required.

- 18 month CD yielding 1.45% APY with a minimum balance of $1,000 required.

- 36 month CD yielding 2.40% APY with a minimum balance of $1,000 required.

- 48 month CD yielding 2.75% APY with a minimum balance of $1,000 required.

- 60 month CD yielding 3.20% APY with a minimum balance of $1,000 required.

Additional Notes Regarding Certificate of Deposit Products:

APYs assume interest is reinvested. You have the option to use their online banking, mobile banking and telephone banking systems to get information about your CD. First IB does not issue monthly or annual statements for CD accounts. Compare the above against top CD rates in US.