Most giantbank.com CDs offer competitive interest rates. The rates for some CDs are competitive with other online accounts. All of the CD rates are higher than typical bank rates. The CD terms that are 12-months and longer offer the most competitive interest rates.

There are a good variety of giantbank.com CD terms available. The terms range from 91-days to 60-month CDs. There are seven different terms offered through giantbank.com. You can apply for any of these CD terms online.

There are two options on how to open a CD with giantbank.com. You can apply for the CD online or fill out an application and send the application back through the mail. If you open the CD online there is a maximum opening amount of $50,000.

The opening required amount for giantbank.com CDs are low. Each of the CD terms requires $2,500 to open. You must keep a balance of at least $2,500 in the giantbank.com CDs to earn interest. Any amount over the required balance earns a competitive interest rate. The interest rates are not tiered.

The short-term CDs do not offer as competitive interest rates as the longer-term CDs. The 91-day, six-month, and nine-month CDs do not offer as competitive rates. These rates are still competitive. The rates are just not as competitive as the other giantbank.com terms.

giantbank.com limits the ways you can initially deposit money into CD accounts. Those ways include mailing in a check or a wire transfer. You can also transfer money from another giantbank.com account. The website does not say you can make the initial transfer from an external bank into a giantbank.com CD.

giantbank.com is an online bank. You can contact customer service through email, mail, phone, or fax. Customer service does have limited hours they are open. They are available Monday through Friday from 9 a.m. to 6 p.m. EST.

Customers can transfer the interest earned on giantbank.com CDs to other accounts. But, the money can only be transferred to other giantbank.com accounts. Those accounts include giantbank.com checking or money market accounts.

Read the full Giantbank.com review.

The First Internet Bank CDs offer competitive interest rates. The rates are competitive with other online accounts. First IB CDs offer interest rates much higher than typical bank rates. All the different CD terms offer competitive interest rates.

The amount required to open First Internet Bank CDs is low. CD terms requires $1,000. That amount is low compared to some online CD accounts. With that $1,000 required amount, you can open any of the First IB CD terms.

First Internet Bank offers a good variety of CD terms. The terms range from 3-months to 60-month CDs. They offer a total of eight CD account terms. All the CD terms are online CDs. You can apply for any term length online through the First IB website.

First Internet Bank offers a variety of ways to fund the CD. You can deposit money through an ACH transaction or deposit a check. You can set up a linked external account and make an electronic transfer. You can also send a wire or use a credit card for the initial funding of the CD. They do not accept third party checks.

First IB charges a fee for withdrawing money before the maturity date. The fees are high compared to other CD accounts. For three-month terms, the fee is 90 days of interest. For terms from 6-months to 18-months, the fee is 180 days of interest. The fee for CD terms from 24-months to 60-months is 360 days of interest.

First Internet Bank may charge a fee based on how you choose to receive your money from closed CDs. There is not a fee if you deposit the money into your First IB checking or savings account. If you request a check when you close your account, there is a $5 fee per check.

When you apply for an account, First IB must approve your account application. Once you complete the application, they will review your application. If you are approved, First IB sends an email within two business days after they review your account. If you already have a savings or checking account with First IB you do not need approval again.

First Internet Bank does not allow you to transfer money out of your CD accounts. They offer a fund transfer service, but their CD accounts are not eligible. Other First IB accounts charge a $5 fee to transfer money from a First IB account to an external account.

Read the full First Internet Bank of Indiana review.