First Internet Bank Money Market Savings review

First Internet Bank Money Market Savings rounds out the list for savers with large balances. It pays 3.09% APY on daily balances of $1,000,000 or less and 3.88% APY above $1,000,000, which First Internet Bank compares with an FDIC national average of 0.63% as of October 19, 2026. You can open with $100, and the account rebates ATM surcharges up to $10 per month. First Internet Bank has run as an online bank since 1999 and offers a free checking account alongside it. It ranks last for this angle for three reasons. A $5 monthly maintenance fee applies unless the average daily balance stays at $4,000 or more. The savings page does not mention check writing, so savers who need checks should confirm it with the bank or pick Sallie Mae, Ally or UFB. And below $1 million its 3.09% APY is the lowest verified bank rate here.

Who it is for

savers with $4,000 or more, including balances above $1 million

Price

$5 monthly fee unless the average daily balance is $4,000; 3.09% APY.

monthly maintenance fee $5 average daily balance to avoid fee $4,000
Quoted from the vendor pricing page on November 13, 2026.

Key features

• 3.09% APY on daily balances of $1,000,000 or less
• 3.88% APY on daily balances above $1,000,000
• Open with as little as $100
• ATM surcharge rebate up to $10 per month
• Pairs with First Internet Bank free checking

Strengths and weaknesses

• Strength: Higher tier rate for balances above $1 million
• Strength: ATM surcharge rebates up to $10 per month
• Strength: Online bank since 1999
• Weakness: $5 monthly fee if the average daily balance falls under $4,000
• Weakness: The savings page does not mention check writing
• Weakness: 3.09% APY is the lowest verified rate on this list

Key facts

• APY: 3.09% up to $1M, 3.88% above
• Monthly fee: $5, waived at $4,000 average daily balance
• Minimum to open: $100
• ATM rebate: Up to $10 per month

Where it ranks

First Internet Bank Money Market Savings is No. 8 in our Best Money Market Accounts verdict.