Are you in search of or Looking to make the most of your savings in Indiana? The state offers a variety of opportunities for individuals seeking competitive Certificate of Deposit (CD) rates.

Whether you’re planning for short-term goals or long-term financial security, finding the best CD rates in Indiana can help you maximize your returns. Additionally, it keeps your funds secure.

By exploring the options available from local banks and credit unions, you can discover the ideal CD rates to suit your needs and enhance your financial portfolio.

Overall Best CD rates in Indiana

No.Bank NameAPYTerm LengthAddress
1CommunityWide Federal Credit Union5.50%6-month955 Husky Trl Warsaw, IN 46582
2River Bend Federal Credit Union5.50%6-month718 Chapin St South Bend, IN 46601
3Financial Health Federal Credit Union5.25%12-month2811 E 10th St Indianapolis, IN 46201
43Rivers Federal Credit Union5.15%6-month585 W Broadway St Fortville, IN 46040
5First Internet Bank of Indiana5.10%6-month11201 USA Pkwy Fishers, IN 46037
6Home National Bank of Thorntown5.00%12-month2510 N Lebanon St Lebanon, IN 46052
7Home National Bank of Thorntown4.95%6-month2510 N Lebanon St Lebanon, IN 46052
8Perfect Circle Credit Union4.95%6-month631 E Main St Hagerstown, IN 47346
9Napoleon State Bank4.94%6-month1221 W Westridge Pkwy Greensburg, IN 47240
10Hicksville Bank4.91%6-month1130 W 15th St Auburn, IN 46706
11State Bank of Lizton4.90%6-month206 N State St Lizton, IN 46149
12Bippus State Bank4.89%6-month106 West St P.O. Box 352 North Manchester, IN 46962
13FORUM Credit Union4.75%12-month11313 USA Pkwy PO Box 50738 Fishers, IN 46037
14Owen County State Bank4.73%6-month3419 W State Rd 46 Bloomington, IN 47404
15PenFed Credit Union4.65%12-monthOnline
16INOVA Federal Credit Union4.50%6-month601 S Main St PO Box 345 Elkhart, IN 46516
17Union Savings Bank4.50%12-month5881 E 82 St Indianapolis, IN 46250
18Energy Plus Credit Union4.42%12-month2020 N Meridian St Indianapolis, IN 46202
19Afena Federal Credit Union4.35%18-month2800 St Joe Center Rd, Fort Wayne, IN 46825
20Madison County Federal Credit Union4.33%12-month3607 Nichol Ave Anderson, IN 46011
21State Bank of Lizton4.21%12-month2436 N Lebanon St Lebanon, IN 46052
22National Bank of Indianapolis4.16%12-month11701 Olio Rd Fishers, IN 46037
23Indiana University Credit Union4.01%60-month510 E Kirkwood Ave, Bloomington, IN 47408
24FEDEX Employees Credit Association FCU4.00%6-month3724 S High School Rd Indianapolis, IN 46241
25Credit Union 14.00%12-month2730 S Tibbs Ave Indianapolis, IN 46241
26FEDEX Employees Credit Association FCU4.00%12-month3724 S High School Rd Indianapolis, IN 46241
27STAR Financial Bank4.00%12-month9102 N Meridian St Indianapolis, IN 46260
28Evansville Teachers Federal Credit Union4.00%6-month4401 Theater Dr, Evansville, IN 47715
29Heritage Federal Credit Union4.00%12-month4920 Lincoln Ave, Evansville, IN 47715
30Midwest America Federal Credit Union4.00%6-month1104 Medical Park Dr, Fort Wayne, IN 46825
31KEMBA Indianapolis Credit Union4.00%12-month575 N Pennsylvania St, Indianapolis, IN 46204
32Notre Dame Federal Credit Union4.00%18-month180 W Angela Blvd, South Bend, IN 46617
33FORUM Credit Union3.93%18-month11313 USA Pkwy, Fishers, IN 46037
34Beacon Credit Union3.93%18-month1 Corporate Dr, Wabash, IN 46992
35Merchants Bank of Indiana3.72%12-month11590 N Merdian St Carmel, IN 46032
36Harvester Financial Credit Union3.69%12-month15 S Richland Creek Dr, Princeton, IN 47670
37Purdue Federal Credit Union3.68%12-month1551 Win Hentschel Blvd, West Lafayette, IN 47906
38Unify Financial Credit Union3.50%6-month4884 S Maple Tree Dr Princeton, IN 47670
39Indiana Members Credit Union3.20%12-month1553 N Green St Brownsburg, IN 46112
40Farmers Bank, Frankfort, Indiana3.15%12-month7126 E 116th St Fishers, IN 46038
41Financial Center First Credit Union3.02%24-month7101 E 56th St, Indianapolis, IN 46226
42Eli Lilly Federal Credit Union3.02%6-month225 S East St, Indianapolis, IN 46202
43PenFed Credit Union3%6-monthOnline
44Citizens State Bank of New Castle, Indiana3.00%12-month902 S Rangeline Rd Carmel, IN 46032
45Crane Credit Union3.00%12-month1 Moore St, Crane, IN 47522
46Financial Builders Federal Credit Union3.00%3-month2828 S Lafountain St, Kokomo, IN 46902
47MainSource Bank3.00%12-month2105 N Veterans Pkwy, Bloomington, IN 47404
48Kemba Indianapolis Credit Union2.96%12-month444 S Shortridge Rd Indianapolis, IN 46219
49Indiana State University Federal Credit Union2.67%24-month444 N 3rd St, Terre Haute, IN 47807
50Wells Fargo Bank, National Association2.50%6-month6324 W Jefferson Blvd Fort Wayne, IN 46804
51First Bank Richmond, N.A.2.50%12-month1601 E Michigan Rd Shelbyville, IN 46176
52Industrial Federal Credit Union2.50%60-month1115 Sagamore Pkwy S, Lafayette, IN 47905
53Citizens State Bank2.50%24-month100 N Broadway St, New Palestine, IN 46163
54Peoples Bank2.50%24-month920 Michigan Rd, Madison, IN 47250
55First Farmers Bank & Trust2.47%12-month10077 N State Rd 37 Elwood, IN 46036
56Fifth Third Bank2.28%6-month334 N 2nd St Decatur, IN 46733
57First Bank Richmond, N.A.2.00%6-month2929 National Rd W Richmond, IN 47374
58Crane Federal Credit Union1.95%12-month2028 N Morton St Franklin, IN 46131
59Indiana Members Credit Union1.45%36-month5103 Madison Ave, Indianapolis, IN 46227
60CommunityWide Federal Credit Union1.45%36-month411 E Colfax Ave, South Bend, IN 46617
61Centra Credit Union1.00%60-month3801 Tupelo Dr, Columbus, IN 47203

Current CD Rates of Indiana

The current CD rates in Indiana have been influenced by factors such as the Federal Reserve’s monetary policy and the overall economic climate.

Comparing rates and terms across different institutions can help individuals secure the best possible returns on their savings in Indiana.

For the last 150 years, Independent Bank has dedicated itself to providing all of the banking needs of its community. These days, they do so by participating in raising money to help fight cancer, giving financial literacy courses, being involved in community boards, and much more.

Independent Bank’s employees are also members of the community who are just as dedicated to helping as their employer is. Every Columbus Day Independent Bank closes to allow their employees to volunteer at a non-profit organization of their choosing.

This can include things like animal shelters, homeless shelters, soup kitchens, nursing homes, and more. Most recently, Independent Bank announced that they would be helping to fund the development of affordable housing in Michigan which will help create affordable housing for those in need. Along with other organizations, $16 million has been raised in total to build brand-new housing units

Independent Bank CD Rates Offers

Most specified promotional offers are stated below;

The bank provides various CD specials with varying terms and minimum deposit requirements. For instance;

  • Their 3-month CD special offers a competitive 4.90% APY, which is notably higher than many standard savings accounts.
  • The 11-month CD special, with a 4.15% APY, presents a good balance between term length and interest rates, making it appealing for investors seeking a moderate commitment.
  • The 36-month CD special, while featuring a lower interest rate at 3.60% APY, provides a stable and extended investment option.

1.     3-Month CD Special

  • Term: 3 months
  • Minimum Deposit: $10,000 of newly deposited funds
  • Interest Rates: 4.90% APY with a 5.01% rate

Considerations

  • The $10,000 minimum deposit may be a barrier for some investors, but it can also attract those looking to invest a larger sum for a short term with a higher return.
ProsCons
Short-term commitmentHigher minimum deposit

2.     11-Month CD Special

  • Term: 11 months
  • Minimum Deposit: $1,000
  • Interest Rates: 4.15% APY with a 4.23% rate

Considerations

  • While not as high as the 3-month CD, the interest rates are still competitive, providing a balance between return and flexibility.

Pros & Cons

ProsCons
Short-term commitmentHigher minimum deposit
Quick access to fundsLimited time for rate appreciation

3.     36-Month CD Special

  • Term: 36 months
  • Minimum Deposit: $1,000
  • Interest Rates: 3.60% APY with a 3.66% rate

Considerations

  • This CD requires a more extended commitment, with funds locked in for 36 months. It suits individuals who are willing to invest for a more extended period.

Pros & Cons

ProsCons
Medium-term commitmentLower interest rates compared to 3-month CD
Lower minimum depositStill, a commitment for nearly a year

Indiana Economic Statistics

Indiana’s economic landscape presents a mix of opportunities for investors and savers. As of 2023;

  • The state’s average household income stood at approximately $70,030, with an average home value of around $150,000.
  • With a population exceeding 6.7 million residents, Indiana offers a diverse market for financial endeavors.

Apart from all these, when considering the best CD rates in Indiana, these economic statistics provide context for potential returns on investment relative to the cost of living and income levels in the state.

StatisticValue
Average Household Income $70,030
Average Home Value $150,000
Population Over 6.7 million

How to Get the Best CD Rates in Indiana

To secure the best CD rates in Indiana, it’s essential to conduct thorough research and comparison among various financial institutions.

  • The people should start by exploring both local banks and credit unions as well as online banks, as they may offer different rates and terms.
  • Additionally, consider factors such as the length of the CD term and any special promotions or bonuses offered by the institution.
  • Comparing rates across multiple institutions ensures you find the most competitive option that aligns with your savings goals and financial strategy.

CD Rates Methodology

In our search for the best CD rates in Indiana, we meticulously reviewed offerings from a total of 93 banks and credit unions throughout the state.

After extensive analysis and comparison of rates, terms, and account features, we narrowed down our selection to a curated list comprising 61 institutions.

This comprehensive review process allowed us to identify the top contenders offering the most competitive CD rates in Indiana, providing valuable options for savers seeking to maximize their returns while ensuring the security of their funds.

Conclusion

Securing the best CD rates in Indiana requires exploring both local and online banks. During the research it is required to consider factors such as CD term length and any special promotions. In this regard, investors can identify the most competitive rates that align with their financial goals. We tried best to ensure that individuals have access to a curated list of options that offer the potential for optimal returns on their savings in Indiana.

FAQs

Who has the best CD rates in Indiana?

First Internet Bank of Indiana offers the best CD rate in Indiana for a 6-month term at 5.10%.

What Credit Union has the Best CD rates in Indiana?

CommunityWide Federal Credit Union provides the best CD rate among credit unions in Indiana for the same term at 5.50%.