Available nationwide, First Internet Bank is offering 3.46% up to 4.42% APY Rate on their Business Money Market Account.
Update 12/26/24: The rate for balances above $5M has decreased to 4.42% APY from 4.69%. This account offers a highly competitive interest rate (probably the best) but the only caveat is to have a minimum balance of $5M to earn the higher tier rate. However, if you want to earn a highly competitive rate for any balance on top of a $400 bonus, we recommend the Live Oak Bank Business Savings account.
First Internet Bank Business Money Market Review
First Internet Bank is, as you can tell, an online banking provider. They were founded in 1997 and call themselves an investment provider of CDs and Savings Accounts.
I’ll review First Internet Bank Business Money Market below.
| Chase Business Checking ($300 or $500 Bonus) | Axos Business Premium Savings ($375 Bonus) |
| Axos Bank Basic Business Checking ($400 Bonus) | Axos Bank Business Interest Checking ($400 Bonus) |
| Huntington Unlimited Plus Business Checking ($1,000 Bonus) | Huntington Unlimited Business Checking ($400 Bonus) |
| Bluevine Business Checking ($300 Bonus) | Bank of America Business Checking ($200 bonus offer) |
| U.S. Bank Business Checking ( $500 or $900 Bonus) | |
First Internet Bank Business Money Market Rate
When you sign up for their Business Money Market Account, you can start maximizing your savings and it takes just minutes to open an account online. Paying one of the highest yields nationwide while offering all the conveniences you deserve!
- What you’ll get: Up to 4.42% APY
- Eligible account: Business Money Market
- Credit inquiry: Soft Pull
- Where it’s available: Nationwide (Online)
- Opening Deposit: $0
- Monthly fee: $5 monthly fee waived with $4,000 average daily balance
- Early Termination Fee: None
(Member FDIC)
How to Earn Rate
- Open a FIB Business Money Market Savings with a minimum opening deposit of $100
- Earn 3.46% with a daily balance of $5,000,000 or below; 4.42% with a daily balance above $5,000,000
| Balance Tiers | % APY |
| $100 – $5M | 3.46% |
| $5M or greater | 4.42% |
How To Waive Monthly Fee
There is a monthly maintenance fee of $5 that is waived with an average daily balance $4,000.
Is My Account FDIC Insured?
First Internet Bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC). Basic insurance coverage for checking, savings, and CD accounts is $250,000.
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Conclusion
Check out this great offer from First Internet Bank. You can enjoy earning an attractive rate. Take advantage of the services they have to offer along with these savings. With a great account like this, I recommend signing up today so you can start saving and growing your money for the future!
Let us know about your experience with this bank and comment below.
In addition to the rate from First Internet Bank, check out our list of best rates Savings, Money Market, and CD accounts.
If you are interested in expanding your financial future, definitely use our bank bonuses page to find other offers. Some popular bank offers include Chase Bank, Discover Bank, TD Bank, Huntington Bank, HSBC Bank and many more.
