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Independent Bank offers high-yield checking and CD specials, along with standard and relationship accounts.
Manage all your accounts, including loans, with the ONE Wallet app.
Independent Bank is a local state-chartered financial institution with 60 locations on Michigans Lower Peninsula.
GOBankingRates has recognized Independent Bank as one of theBest Banks in Michiganfor its exceptional offerings.
However, costly overdraft fees could quickly offset the benefits.
Enjoy the convenience of a free ATM card and automated savings through the Change It Up program.
Independent Bank CD Accounts
Independent Bank CDs offer slightly higher-than-average interest rates with low minimum opening deposits.
If you have an Independent Bankchecking accountat the time you open a CD, youll qualify for CD specials.
These come with highly competitive rates.
Keep in mind, early withdrawals come with hefty penalties.
CD specials expand the choices with higher-yielding options.
But youll need an Independent Bank checking account or a high balance to benefit.
Avoid the $12 monthly fee by maintaining a $2,500 balance.
Here are some factors to consider.
The ONE checking account rate is outstanding despite its $500 annual limit.
Customer Service
Customer service options are limited but adequate.
Appointments can be scheduled or it’s possible for you to stop in at a branch.
Most of Independent Banks fees compare favorably to fees at banks of its size and scope.
Wire transfer fees are also typical.
But all of Upper Peninsulas personal bank accounts have a minimum required opening deposit.
Independent Bank vs.
The primary difference between the two is their online and mobile banking offerings.
Whats more, youll have to fill out a paper form to authorize transfers using the app.
Final Take
Independent Bank is a community-focused financial institution serving Michigans Lower Peninsula.
All factors were then scored and combined, with the lowest score being the best.
All products and offerings had to be available as of Nov. 8, 2024, to be considered.
Rates are subject to change; unless otherwise noted, rates are updated periodically.
All other information on accounts is accurate as of Dec. 10, 2024.
Rates are subject to change; unless otherwise noted, rates are updated periodically.
All other information on accounts is accurate as of Dec. 10, 2024.
