First Internet Bank offers eight terms of CDs, all paying very competitive APYs. The terms range from three months to five years. First Internet Bank CDs require a minimum of $1,000 to open one.
There’s an early withdrawal penalty of 90 days interest on a three-month CD and a 180 days of interest penalty on the six month, one year and 18-month CDs. An early withdrawal on a CD of two years or longer will cost you 360 days of interest.
First Internet Bank offers a variety of traditional CD terms.
First Internet Bank clearly lists early withdrawal penalties on its website. It’s not in the fine print or hard to find like at some other banks.