First Internet Bank High Yield Certificate of Deposit Review

First Internet Bank High Yield Certificate of Deposit is offered by First Internet Bank, a bank founded in 1999 and based in Indianapolis, IN. First Internet Bank High Yield Certificate of Deposit is available in 50 states (and Washington, DC).

Are cd accounts from First Internet Bank federally insured?

Yes, your First Internet Bank cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #34607). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does First Internet Bank offer?

• IRA
• Traditional

What APY does First Internet Bank offer on its CDs?

First Internet Bank High Yield Certificate of Deposit offers an APY starting at 1.61% and ranging up to 3.20% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What is the minimum deposit to open a CD account with First Internet Bank?

First Internet Bank High Yield Certificate of Deposit requires a minimum initial deposit of $1,000 to open an account.

What types of early withdrawal penalties does First Internet Bank High Yield Certificate of Deposit charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

First Internet Bank does not charge an early withdrawal fee.