Watch your money grow with 6-Month or 12-Month CD Specials. 

When you choose to save with a CD, you’re saving with an interest-bearing account. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 6 months or 12 months. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded and credited annually. 

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6-MONTH and 12-MONTH CD SPECIAL FOR CUSTOMERS who have an INB loan or checking account with direct deposit*

Term Annual Percentage Yield (APY)  Minimum Deposit Balance Information  Limitations Time Account Information
6-MO 5.09% (APY) $1,000 We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield. You must deposit $1,000 to open this account. You may not make additional deposits into this account.  Your account will mature in 6 months. If you withdraw any of the principal before the maturity date, INB will impose a penalty of 90 days of interest. This account will automatically renew at a 6-month term with the standard rates in effect at that time. If you do not withdraw the funds, each renewal term will be 6 months beginning on the maturity date.
12-MO 5.03% (APY) $1,000 We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield. You must deposit $1,000 to open this account. You may not make additional deposits into this account.  Your account will mature in 12 months. If you withdraw any of the principal before the maturity date, INB will impose a penalty of 180 days of interest. This account will automatically renew at a 12-month term with the standard rates in effect at that time. If you do not withdraw the funds, each renewal term will be 12 months beginning on the maturity date. 

*For customers who have an INB loan or an INB checking account with a monthly direct deposit.

You will have 10 calendar days after the maturity date to withdraw funds without penalty.

6-MONTH and 12-MONTH CD SPECIAL

Term Annual Percentage Yield (APY) Minimum Deposit Balance Information  Limitations Time Account Information
6-MO 5.00% (APY) $1,000 We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield. You must deposit $1,000 to open this account. You may not make additional deposits into this account.  Your account will mature in 6 months. If you withdraw any of the principal before the maturity date, INB will impose a penalty of 90 days of interest. This account will automatically renew at a 6-month term with the standard rates in effect at that time. If you do not withdraw the funds, each renewal term will be 6 months beginning on the maturity date.
12-MO 4.94% (APY) $1,000 We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,000 in the account each day to obtain the disclosed annual percentage yield. You must deposit $1,000 to open this account. You may not make additional deposits into this account. Your account will mature in 12 months. If you withdraw any of the principal before the maturity date, INB will impose a penalty of 180 days of interest. This account will automatically renew at a 12-month term with the standard rates in effect at that time. If you do not withdraw the funds, each renewal term will be 12 months beginning on the maturity date. 

You will have 10 calendar days after the maturity date to withdraw funds without penalty.

Why Save with a CD?

Certificates of Deposit (CDs) give you a way to earn more on your savings than with a traditional savings account.  CDs typically earn more interest because you agree to deposit a lump sum of money for a fixed period of time. With typical savings accounts, you can withdraw your money at any time without excess fees or lost interest.

The big difference between CDs and savings accounts is that with a CD - you can only access your money after a specified term unless you pay a penalty fee or lose out on the guaranteed interest rate. CDs usually pay a higher interest rates than savings accounts because the funds have to stay with the bank for a specific period of time.

CDs are a safer and more conservative way to save than with stocks and bonds. As a matter of fact, INB CDs come with the assurance of the Federal Deposit Insurance Corporation – usually referred to as the FDIC. The standard insurance amount is $250,000 per depositor.

With a CD, you’re locking into four things:

  1. The interest rate: Locked rates provide a clear and predictable return on your deposit over a specific period. We can’t change the rate or reduce your earnings during this time.
  2. The term: This is the length of time that you agree to leave your funds deposited to avoid any penalty. The term ends on this date, and you can then get to your money, penalty free.
  3. The principal: This is the amount you agree to deposit when you open the CD.
  4. INB: You agree to keep your money with INB until the agreement ends.

You can apply for the CD Specials online, or by stopping by any INB branch