IRAs (Individual Retirement Account)

Grow your retirement savings in a tax-advantaged IRA

The sooner you prepare for retirement, the better. Individual retirement account (IRA) CDs are one of the best savings tools available to help you fund the next phase of your life. Start with as little as $1,000 and build your retirement savings through guaranteed growth, backed by FDIC-insured protection. 

At this time, First Internet Bank is not accepting applications for new IRA accounts. The rates shown below are for customers renewing an existing IRA.

IRA Service Center

Talk to us about your existing IRA account


Term Interest Rate Annual Percentage Yield (APY) Early Withdrawal Penalties
12 Months 1.25% 1.26% 180 days interest
18 Months 1.30% 1.31% 180 days interest
24 Months 1.30% 1.31% 360 days interest
36 Months 1.30% 1.31% 360 days interest
48 Months 1.40% 1.41% 360 days interest
60 Months 1.40% 1.41% 360 days interest
Money Market IRA 1.10% 1.11% None

Open with as little as $1,000. Rates above apply to all balance levels. Rates last updated 1/13/2020. Rates are subject to change on any day and will be updated by 10:00 AM EST. Please be sure to check this page after 10:00 AM EST for the rate that will be honored today. IRA CD rates are guaranteed as of the postmark date on the envelope containing the signed application and funding for the account. Interest is compounded and credited monthly. APYs assume interest remains on deposit until maturity. A withdrawal may reduce earnings. You have the option to use our online banking or mobile banking systems to get information about your IRA CD. First Internet Bank will send you an annual recap of your IRA CD activity shortly after the first of each year. First Internet Bank does not issue monthly statements for IRAs, unless you have your monthly interest or required minimum distribution automatically deposited to another account or you have other checking and/or savings accounts with us. For additional information, visit our Disclosures page.

Talk to us about your existing IRA account

Simplify your daily finances

You’ve already made a smart choice for your future by reviewing our IRAs. Why not look into our nationally competitive checking and savings accounts and mortgages too? After all, saving more on these financial products can free up more funds for your IRA.