The regular CDs offered through Rising Bank have low opening required amounts. These CDs only require $1,000 to open. You must keep this amount in the CD to earn interest. If your account balance falls below $1,000, your CD will not earn interest.

The interest rates for Rising Bank CDs are competitive. Their rates are higher than typical bank CD rates. Rising Bank rates are competitive with other online CDs of the same term length. The CDs do not have tiered interest rates. Any amount over the required opening deposit earns competitive interest rates.

Rising Bank is a completely online bank. You can open any of their accounts online. The process of opening an account is entirely online. They offer a high yield savings account and CDs. The CD terms range from one-year to three-year terms. The CDs come in regular, jumbo, and Rising CDs.

Rising Bank offers a Rising CD. These CDs come in 18-month and 36-month terms. If the interest rates increase during the CDs term, you can increase your CDs interest rate. Once the rate increases, you can also add money to your CD. You can increase your rate once during the 18-month CD term and twice during the 36-month CD term.

Rising Bank offers different types of CDs, but they do not offer a wide variety of term lengths. In the regular CDs, they only offer a one-year, two-year, and three-year CD. The jumbo CDs are available in a two-year term. The Rising CDs are available in 18-month and 36-month terms.

Rising Bank CDs and jumbo CDs have high opening amounts. The Rising CDs require $25,000 to open. The jumbo CD requires $100,000 to open. You must keep these balances in the account to earn interest. If your balance falls below this amount, you will not earn interest.

The interest earned on Rising Bank CDs credits to your account every three months. When the interest is credited, the money is added to your CD amount. If you close your CD before interest credits to your account, you will not receive the interest earned.

Because Rising Bank is an online bank, there are no branch locations. You can only reach customer service through email or telephone. Their website says their customer service is personalized to each customer. The ways to reach customer service is just limited.

Read the full Rising Bank 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.