First Internet Bank is an online-only bank available to everyone nationwide. I’ll review some background information, and keep this page updated on new promotions and bonuses.
- Update 4/26/2024: Rate now 3.77% & 4.95%, a slight increase from before.
- Update 1/19/2024: Rate have remained the same. For competitive rates, also check out this offer for from CIT Bank.
- Update 8/10/2023: Rate have increased to 3.75%/5.46% APY.
- Update 5/22/2023: The APY for daily balance of less than $1,000,000 increased from 3.56% to 3.66%.
- Update 5/9/2023: The APY rate for daily balance of more than $1,000,000 increased from 4.93% to 5.20%.
- Update 3/29/2023: The APY rate for their daily balance of more than $1,000,000 increased from 4.65% to 4.93%.
- Update 3/14/2023: The APY rate for their a daily balance of less than $1,000,000 increased from 3.50% to 3.56%.
Established in 1998 and headquartered in Fishers, IN, First Internet Bank doesn’t have any branch locations as it’s an internet-only institution.
First Internet Bank Money Market Savings Details
- APY is 3.77% with a daily balance of $1,000,000 or less
- APY is 4.95% with a daily balance above $1,000,000
- Available nationwide
- Minimum to open: $100
- Minimum for APY: $1
- Monthly fee: $5; waive with $4,000 minimum balance
READ MORE: GET TOP OFFERS FROM CHASE, AXOS, AND BMO.
Bottom Line
Be sure to keep at least a $4,000 minimum balance to avoid the monthly fee. This account also gets ATM surcharge rebates of up to $10 per month.
READ MORE: SEE THE BEST NATIONWIDE SAVINGS ACCOUNTS HERE
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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