About First Internet Bank of Indiana
First Internet Bank of Indiana was founded in 1997 and opened to the public two years later. It is an online-only bank that offers its products to residents of all 50 states.
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First Internet Bank of Indiana Overview
First Internet Bank of Indiana offers a variety of bank products, such as CDs, checking, money market, and savings accounts. As it is an online-only bank, it does not have any physical branches, nor does it have any of its own ATMs. It does, however, offer rebates for surcharges from using ATMs around the country. The bank offers competitive APYs for most of its CDs and money market accounts, with its checking and savings accounts at or below the national averages for their respective account types.
| Competitive APYs on many of its banking products. | Low APYs on its checking accounts. |
| Offers a full range of banking products. | Online-only bank with no physical branches. |
| Monthly ATM rebates on most of its accounts with a debit card. | Some monthly service charges cannot be waived. |
| Little to no monthly service charges. | Limited number of branches. |
| Low minimum opening deposits on many of its accounts. | Some accounts require a higher minimum opening deposit. |
First Internet Bank of Indiana Product Offerings
CDs
A certificate of deposit (CD) is a form of savings account that pays a fixed interest rate on the money in the account for a certain period, known as a term. First Internet Bank of Indiana offers CDs with terms ranging from three months to five years. It offers competitive APYs on all of its CDs, with yields above the national average of 2.60%. Here are the details for some of the bank's CD offerings for the month! and 2025:
Checking Accounts
First Internet Bank of Indiana has a few different business and personal checking accounts. All of the checking accounts offer APYs below the national average of 0.01% for checking accounts. All accounts feature either no monthly service charge or a charge that can be waived by having a minimum average daily balance. Here are the latest account details for April 2025:
Money Market Accounts
A money market account is an interest-bearing hybrid between a savings account and a checking account. First Internet Bank of Indiana offers one personal and one business money market account, both of which offer a competitive APY higher than the national average of 2.02%. Here are the account details for April 2025:
Savings Accounts
First Internet Bank of Indiana offers a few different savings accounts. All accounts have either no monthly service charge or a service charge that can be waived. Also, all have a relatively low minimum opening deposit. The yields offered are, for the most part, in line with the national average of 1.45%. Here are the latest savings account details for April 2025:
Bank Fees
Overdraft fee: None
Savings and Money Market Account withdrawals: None
Account closure fee: None
Dormant account fee: $5 per month
Wire transfer fee: Domestic - Incoming is $0 and outgoing is $20; International - Incoming is $0 and outgoing is $50
Non-network ATM fee: None
Monthly service charge: $2-10 depending on the type of account; Fees can be waived
Stop payment fee: $30
Paper statement fee: $3
First Internet Bank of Indiana Features
First Internet Bank of Indiana's customer service line is available on weekdays from 7 a.m. to 9 p.m. EST and on Saturdays from 9 a.m. to 3 p.m. They also operate an automated phone line 24 hours a day, 7 days a week, for basic account functions. The bank does not operate ATMs but offers up to $10 in ATM rebates per month on most of its accounts. It also offers an easy-to-use mobile app that allows customers to manage their accounts and perform basic account functions.
First Internet Bank of Indiana FAQs
Our Take
First Internet Bank of Indiana offers a number of CDs, all of which offer competitive APYs. They also offer money market accounts that have higher than average APYs. Although the bank does not have any ATMs, nor does it offer its customers access to any ATM network such as Allpoint or MoneyPass, it does offer up to $10 in ATM rebates per month on many of its accounts. As it is an online-only bank, it may be a good option for customers who are comfortable with an online-only bank and not being able to visit a branch.
Methodology
Our editorial staff continually updates the information contained on our website. Our editorial staff has analyzed virtually all of the banks and credit unions that it follows, and it does weekly rate analysis for more than 250 prominent banks and credit unions. These institutions were chosen because they provide competitive APYs, low fees, and other factors we find important. These banks and credit unions often provide accounts that are available nationally. All of these banks are FDIC-insured, and all of these credit unions are NCUA-insured. Choosing an FDIC-insured bank or an NCUA-backed credit union assures that your money is protected as long as it stays within insurance limits and requirements.