Compound Interest Calculator
CD 3-month Account from First Internet Bank of Indiana with 3.72% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-month Account from First Internet Bank of Indiana with 3.72% APY and $1,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $28,817. The interest earned would be $8,817 and the tax amount on the interest earned would be approximately $2,645.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for First Internet Bank of Indiana

Savings Boost of
$5,854 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
First Internet Bank of Indiana Interest Earned $6,172

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.23%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 32
2 20,045 45 32
3 20,090 45 32
4 20,135 45 32
5 20,181 45 32
6 20,226 46 32
7 20,272 46 32
8 20,317 46 32
9 20,363 46 32
10 20,409 46 32
TOTAL: $455 $318

First Internet Bank of Indiana Scenario

Rate:
3.72%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 744 521
2 20,744 772 540
3 21,516 800 560
4 22,316 830 581
5 23,146 861 603
6 24,007 893 625
7 24,900 926 648
8 25,827 961 673
9 26,787 996 698
10 27,784 1,034 723
TOTAL: $8,817 $6,172

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
September 25, 2024 3.72%
March 14, 2024 4.14%
February 20, 2024 4.19%
August 20, 2023 4.18%


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Customer Reviews for First Internet Bank of Indiana


  • January 30, 2024

    Online CDs 60 Month Rates

    Have an IRA rollover, they don't take IRAs any longer.

  • April 22, 2015

    Hello, I am interested in a line of credit against my home. I have a high interest credit card that I want to move to this credit. I have a wells fargo mortgage which is only a few years old which I do not want to touch.

    Jim
    You can reach me by my work phone 765-451-0371, or at my e-mail james.r.plew@delphi.com


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