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We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

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First Internet Bank of Indiana full review: is it trustworthy?

Check out the First Internet Bank of Indiana review article to learn how this bank can be a helpful and powerful tool for your finances.

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by Aline Augusto

Published on 06/13/2022

First Internet Bank of Indiana: many financial products and services to cover your needs

The First Internet Bank of Indiana is literally the first online bank FDIC-insured. Source: First Internet Bank.
The First Internet Bank of Indiana is literally the first online bank FDIC-insured. Source: First Internet Bank.

The First Internet Bank of Indiana is a digital bank and the first online bank FDIC-insured. Although it doesn’t offer physical branches, the bank provides humanly access to support and assistance. The financial institution offers a wide range of financial products and services, no matter if you are looking for tools for yourself or your business. All offerings are secure, simple, and accessible. Read our First Internet Bank of Indiana review to learn more about this fantastic institution.

Check out all the details right below!

Financial products offeredChecking and savings accounts;
accounts for kids;
CDs; IRAs;
Lending services;
Credit cards;
Mortgage;
Services for businesses 
FeesMany accounts and other products have no fees, and others offer waivable-fee options based on some requirements 
Minimum balanceEach account requires a minimum opening deposit, and a minimum balance is recommended to waive applied fees
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How to start banking with First Internet Bank?

Learn how to join the First Internet Bank of Indiana and feel peace of mind with complete coverage of your needs and goals.

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How is banking with First Internet Bank of Indiana?

The First Internet Bank of Indiana or First Internet Bank offers many financial products and services for all kinds of needs and goals.

Even though the bank doesn’t offer physical branches, the customer is humanly attended by many ways of support, including email, chat, and telephone.

In general, the bank provides good products and services at competitive rates and fees. And it allows you to choose between free options and other waivable-fee options based on some criteria.

Also, the customer reviews are pretty good.

The bank is secure, accessible, and offers a vast ATM network for you to rely on.  

First Internet Bank of Indiana experience: accounts, CDs, credit cards, and more

Keep reading our First Internet Bank of Indiana review. Source: Canva.
Keep reading our First Internet Bank of Indiana review. Source: Canva.

On the personal section, the bank features checking & savings accounts, as well as lending options and mortgages.

In summary, there are two options when it comes to checking accounts: a free checking and an interest checking account.

Firstly, the free checking option, even though it does not pay interest, doesn’t charge any monthly maintenance fee, and you can open it for only $25.

On the other hand, the Interest Checking pays interest based on a 0.30% rate. You can open it with a minimum deposit of $100.

Although it charges a $10 monthly maintenance fee, you can waive it by maintaining a minimum balance of $500.

All accounts come with a debit card, mobile access, and free first-order checks.

Also, in the savings section, you can choose between a free savings account and a Money Market Savings account.

The first option has no fees associated with it and pays interest on a 0.25% APY basis. The second option offers a 0.70% APY but requires a minimum $4,000 daily balance to avoid the $5 monthly fee.

Furthermore, the bank offers CDs ranging from 3 to 60 months and APY ranging from 0.35% to more than 2.70%, depending on the term chosen.

In addition, there are other services and products for both individual and business needs and goals, such as accounts for kids, IRAs, credit cards, loans, and much more.

Pros

  • The bank offers a complete package of products and services with good rates at a low cost;
  • It has a vast  ATM network;
  • Many accounts have no fees or allow you to waive fees;
  • The credit card offers cash back with $0 annual fee.

Cons

  • It doesn’t have physical branches.

Why should I choose First Internet Bank of Indiana?

If you want a vast range of financial products and services with competitive rates at a low cost, the First Internet Bank is definitely a powerful choice for you. 

It offers options for all kinds of profiles, needs, and goals, whether you are looking for personal or business options.

How to start banking with First Internet Bank of Indiana?

Learn now how to start banking with First Internet Bank of Indiana by reading our step-by-step right on the next post!

join First Internet Bank of Indiana

How to start banking with First Internet Bank?

Learn how to join the First Internet Bank of Indiana and feel peace of mind with complete coverage of your needs and goals.

Keep Reading
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How to start banking with First Internet Bank?

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About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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Advertiser Disclosure

We are an independent, objective, advertising-supported content publisher website. In order to support our ability to provide free content to our users, the recommendations that appear on our site might be from companies from which we receive affiliate compensation. Such compensation may impact how, where and in which order offers appear on our site. Other factors such as our own proprietary algorithms and first party data may also affect how and where products/offers are placed. We do not include all currently available financial or credit offers in the market in our website.

Editorial Note

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included within the post. That said, the compensation we receive from our affiliate partners does not influence the recommendations or advice our team of writers provides in our articles or otherwise impact any of the content on this website. While we work hard to provide accurate and up to date information that we believe our users will find relevant, we cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof.

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