FAQ

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CD

What happens to my CD at maturity?

First Internet Bank will send through US mail a reminder of your CD maturity approximately one month in advance of your maturity date. If you use the online banking site, you may also use the personal reminder option to request an electronic reminder prior to maturity. Click Manage Money, select Mobile Banking & Alerts and click Add an alert.

If you do nothing, your First Internet Bank CD will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The rate on the new CD will be the rate in effect for that term on the maturity date.

If you choose not to renew the CD, you will have a grace period of ten (10) calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. If you notify us in writing prior to the maturity date that you do not wish to renew the CD, we will close the CD on the maturity date and mail a check to you for the balance of your CD.

If you also have a First Internet Bank checking or savings account, you can transfer the entire balance of your mature CD into your checking or savings account and close the CD through the online banking site. Click Additional Services, then CD Maturity Options.

What should I do to close my CD?

Several CD redemption options are available to you. Simply log in to your online banking account, click Additional Services and select CD Maturity Options.

If you do not have access to the online banking site and wish to provide CD redemption instructions to us, please submit a written request with the following information: Your name, the last four digits of your account number and a signature from an authorized account holder. Email the request to bank@firstib.com, fax it toll-free to 1-888-644-8678 or mail it to:

First Internet Bank of Indiana
PO Box 6080
Fishers, IN 46038

Important note: CDs are subject to an early withdrawal penalty prior to maturity. We will send the balance of your CD, less any applicable early withdrawal penalty. If you are requesting that we send the balance to an address other than the address we have on file, the primary account holder must sign the request.