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0.6%
1-year APY
0.81%
3-year APY
0.96%
5-year APY
Minimum deposit to open | $1,000 |
---|---|
Interest compounding | Daily |
3-month APY | 0.25% |
6-month APY | 0.45% |
1-year APY | 0.6% |
18-month APY | 0.65% |
2-year APY | 0.7% |
3-year APY | 0.81% |
4-year APY | 0.86% |
5-year APY | 0.96% |
Early withdrawal penalty | 90 days interest for terms of 1 to 5 months 180 days interest for terms of 6 to 23 months 360 days interest for terms of 24 to 60 months |
Review by
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
With a large selection of CD terms, First Internet Bank offers a variety of high-interest CD rate options to help you meet your savings goals. You have the option of opening a short-term CD ranging from three months to one year or a long-term CD ranging from 18 to 60 months.
But if you don’t have a checking or savings account with First Internet Bank, you’ll pay $5 to receive a check with your money after your CD matures.
If you have a checking or savings account with First Internet Bank, you can open a CD through your online account without filling out any paperwork. For those who don’t:
You must meet the following requirements to open a CD with First Internet Bank:
Have the following information ready before you apply:
Fund your CD using one of the following methods:
Look forward to the following benefits from your CD account:
Keep in mind the following drawbacks before you decide to open a CD with First Internet Bank:
If you’re not interested in investing with an online-only bank or you’re concerned about the early withdrawal fees, you’ll want to keep looking. As always, compare your options when considering a CD.
When your CD matures, you have a 10-day grace period to select one of the following options:
In addition to CDs, you can find the following savings products: