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 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 3.66% with a daily balance of $1,000,000 or less
- APY is 5.20% 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, BANK OF AMERICA, TD BANK AND U.S. BANK.
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.
Compare with other top money market accounts.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
