Savings Accounts
More interest means more savings.
Searching for great rates? Relax, you’ve just found them.
Financial goals? How about a savings boost that can help you more quickly achieve them? As a digital bank, we deliver rates above the national average*, plus you can apply online for in minutes. And as a FDIC-insured** bank, you never have to worry about where your money will be tomorrow. What can we say? We like making the impossible possible.
Rates last updated 12/11/2025. 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. Fees may reduce earnings on account. Interest is calculated using the daily balance method and compounds monthly. There is no balance requirement to obtain the annual percentage yield disclosed. For additional information, visit our Disclosures page.
*As of 4/20/2026, the national average annual percentage yield (APY) for Money Market Savings accounts is 0.57%, as published in the FDIC’s Weekly National Rates and Rate Caps; average rate used is for deposits up to $1,000,000. The minimum average daily balance to avoid a fee for a Money Market Savings account is $4,000. Rates are subject to change. Fees may reduce earnings on the account. Interest earned assumes entire amount remains on deposit.
**Deposits are FDIC insured up to $250,000 per depositor for each account ownership category. To learn more, visit www.fdic.gov.
+As recognized by GOBanking Rates 2025
Money Market Savings
An award-winning+ account, brought to you by an industry-revolutionizing bank.
Open Account| Open with as little as | $100 |
| Annual Percentage Yield 3.09% with a daily balance of $1,000,000 or less 3.64% with a daily balance above $1,000,000 | 3.09% 3.64% |
| Interest rate 3.05% with a daily balance of $1,000,000 or less 3.58% with a daily balance above $1,000,000 | 3.05% 3.58% |
| Monthly maintenance fee | $5 |
| Average daily balance to avoid fee | $4,000 |
| ATM surcharge rebate Up to $10 per month | YES |
Free Savings
Free means free. No hidden fees. No restrictions. And no reason to wait.
Open Account| Open with as little as | $25 |
| Annual Percentage Yield | 0.80% |
| Interest rate | 0.80% |
| Monthly maintenance fee | None |
| Average daily balance to avoid fee | None |
| ATM surcharge rebate Up to $10 per month | Yes |
5X the national average*.
5X the possibilities.
Your First Internet Bank Money Market Savings account will earn you 3.09% APY for account balances under $1,000,000. That means your earnings, and your dreams, can really multiply.
Open Account*As of 4/20/2026, the national average annual percentage yield (APY) for Money Market Savings accounts is 0.57%, as published in the FDIC’s Weekly National Rates and Rate Caps; average rate used is for deposits up to $1,000,000. The minimum average daily balance to avoid a fee for a Money Market Savings account is $4,000. Rates are subject to change. Fees may reduce earnings on the account. Interest earned assumes entire amount remains on deposit.
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Checking
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Questions?
We love to chat. Whether you’re using our virtual agent, or would like to speak with one of our talented Relationship Bankers, we are here to help!
Online savings account FAQs
Opening a First Internet Bank savings account is quick and easy — with no branch visit, no appointment, and no paperwork to mail. The online application is available 24/7, and most customers complete it in just a few minutes.
To get started, you’ll need a valid government‑issued ID, your Social Security number, and a funding source for your opening deposit. Once your application is approved and your initial deposit is received, your account is active and ready to use. If you have questions at any point, First Internet Bank’s Relationship Bankers are available by phone to help — so you can speak directly with a real person whenever you need support.
First Internet Bank offers two personal savings options designed to support different savings needs and balance levels. Our Money Market Savings account is designed for savers who typically maintain higher balances and want to maximize their earning potential. It offers higher yields than a standard savings account, with a monthly maintenance fee that can be avoided by maintaining the required average daily balance.
Our Free Savings account is a simple, no‑fee option with no minimum balance requirement, making it a good fit for new savers, starter emergency funds, or anyone who wants a straightforward way to begin saving without ongoing balance requirements. Both accounts are FDIC insured, can be opened entirely online in minutes, and include convenient digital banking features.
Online banks operate differently than traditional banks and those differences often allow them to often offer more competitive savings rates. Because digital‑first banks don’t maintain physical branch networks, they can reduce overhead and focus resources on better rates, lower fees and a more streamlined banking experience.
First Internet Bank has operated as a digital‑first bank since 1999, building its savings products specifically for online banking rather than adapting a branch‑based model.
First Internet Bank’s Money Market Savings and Free Savings are designed to give you flexibility, including the ability to access your money at ATMs when needed. Eligible accounts include monthly ATM surcharge rebates, helping you use ATMs nationwide without worrying about fees adding up. For everyday spending and debit card use, First Internet Bank also offers a Free Checking account that pairs seamlessly with your savings—making it easy to move money and manage everything in one place.