Current Rates

Loan Rates

^{For the Auto loans listed below, the rate below includes a discount for auto pay through your Independent Bank checking or savings account for loans $1,000 and greater.  For the Powersports/RV’s/Marine loans listed below, the rate below includes a discount for auto pay through your Independent Bank checking or savings account for loans $1,000 and greater. For the Unsecured loans, the rate below includes a discount for auto pay through your Independent Bank checking or savings account for loans $1,000 and greater. For the Home Improvement loan listed below with the maximum loan amount of $25,000, the rate below includes a discount for auto pay through your Independent Bank checking or savings account. Loans whose purpose is to fund post-secondary education are ineligible for the interest rate reduction normally offered with auto pay from an Independent Bank deposit account.}

• Auto Loans: Rates listed are available for borrowers with a 750 or greater credit score, loan amounts greater than $1,000 and for automobiles 2019 and newer for this non-real estate collateralized product. Standard processing fee of $175.00. Rate includes discount for auto pay from Independent Bank checking/savings account. Rates are subject to change without notice. Actual interest rates and APR’s may vary based on credit history, loan amount and other transaction parameters.

• RV & Marine Loans: Rates listed are available for borrowers with a 750 or greater credit score, loan amounts of $1,000 and greater for this non-real estate collateralized product. Standard processing fee of $175.00. Rate includes discount for auto-pay from Independent Bank checking/savings account. Rates are subject to change without notice. Actual interest rates and APRs may vary based on credit history, loan amount and other transaction parameters.

• Powersports Loans: Rate listed is available for borrowers with a 750 or greater credit score and loan amount of $15,001.00 and greater for this non-real estate, non collateralized product. Standard processing fee of $175.00. Rate includes discount for auto-pay from Independent Bank checking/savings account. Rate are subject to change without notice. Actual interest rates and APRs may vary based on credit history, loan amount and other transaction parameters.

• Unsecured Home Improvement Loans: Rate listed is available for borrowers with a 680 or greater credit score and loan amounts of $25,000 and below for this non-real estate, non-collateralized product. Standard processing fee of $175.00. Rate includes discount for auto-pay from Independent Bank checking/savings account. Rates are subject to change without notice. Actual interest rates and APRs may vary based on credit history, loan amount and other transaction parameters.

• Unsecured Loans: Rate listed is available for borrowers with a 750 or greater credit score and loan amounts of $25,000 and below for this non-real estate, non-collateralized product. Standard processing fee of $175.00. Rate includes discount for auto-pay from Independent Bank checking/savings account. Rates are subject to change without notice. Actual interest rates and APRs may vary based on credit history, loan amount and other transaction parameters.
  
• HELOCs: Rate available for well-qualified borrowers. Your rates may vary depending on your specific credit profile. Your rates are variable and subject to change monthly. Your rate will be based on the then-current index and margin. Loan-To-Value: Total of first and second mortgage balances and commitments divided by the value of the real estate pledged. Home equity lines of credit are available for homes located in Michigan or Ohio. Subject to standard underwriting guidelines.

• Other Rates/Terms are available.

• For additional information about rates and terms, please contact your local banker.

ONE Account Rates

• For Eligibility Requirements/Fees: Refer to the fee schedule for account eligibility requirements and/or fees, if applicable, Fee Schedule.

• Debit card transactions. The following transactions are not considered toward monthly transaction totals; cash advances, ATM withdrawals, balance inquires and balance transfers.

• Accounts are subject to standard account opening guidelines.

• Other fees and restrictions may apply.

• The total number of swipes is counted for each statement cycle.

Savings Account Rates

Certificate of Deposit Rates

Interest

• Interest begins to accrue no later than the business day the bank receives credit for the deposit of non-cash items (e.g., checks). Interest is calculated on a daily balance method. This method applies a daily periodic rate to the principal in the account each day. The minimum balance to earn interest is $0.01. All interest-bearing checking accounts are variable rate accounts. Rates are subject to change at any time without prior notice.
• Checking, Money Markets, and CDs: Interest will be compounded monthly and will be paid to the account monthly. Annual percentage yield (APY) based on monthly cycle.
• Eagle / Swift Savings: Interest will be compounded quarterly and will be paid to the account quarterly. Annual percentage yield (APY) based on quarterly cycle. Rates are subject to change at any time without prior notice.

Transaction Limitations

• Checking: No transaction limitations apply.
• Savings and Money Markets: No transaction limits apply. 
• CDs: Deposits into or withdrawals from the CD are not eligible until the maturity date. Penalty for early withdraw may be imposed.

Processing Order

• Posting order is the order in which deposits and withdrawals are applied to your account. Generally, we post items as they are received. Most items are posted immediately (real-time) as they are presented. This includes credit/debit transactions performed at an Independent Bank branch and electronic transactions such as: ATM transactions, debit card transactions, mobile/online banking transactions, pre-authorized transactions and wires. Items presented via ACH (direct deposits and debits) are posted as received during multiple daily presentments. Checks transacted at other financial institutions will be posted as received.
• In some cases, authorization is provided at the time of conducting a transaction with your debit card, but the transaction does not post to your account until days after the initial authorization. As an example, a debit card transaction may appear as “pending” in online or mobile banking during the day and affect your available balance. When authorization is provided to a merchant we may reserve or place a hold on your available balance, typically for up to seven calendar days or until the transaction posts to your account, for the amount of the requested authorization. There may be delays of several days between the date of the authorization and the date the transaction is presented for payment. The transaction may post to your account after the authorization hold has expired, which could potentially result in an overdraft, even if you are opted out of ATM and one-time debits.
• Funds authorizations are based on the available balance at the time the transaction is authorized. Fee assessments (including Non-Sufficient Fund charges) are based on the actual (ledger) balance at the time a transaction posts to your account. Holds on funds may also impact funds availability.

Minimum Balance Requirement

• Refer to the Fee Schedule for minimum balance information and/or service charges, if applicable.

Dormant/Inactive Account Information

• An account inactivity fee will be assessed each month if there is no customer-initiated activity for twelve months. Refer to the current Fee Schedule, for additional details.

Additional CD Information

• Early Withdrawal Penalty: A fee may be imposed if any of the principal is withdrawn before the maturity date. The fee imposed is based on the term of the certificate of deposit. If the account has an original maturity of one year or less, the fee will equal three months interest on the amount withdrawn. If the account has an original maturity of more than one year, the fee will equal six months interest on the amount withdrawn. 
• Renewal policies: The CD account will automatically renew at maturity. Customers will have a grace period of 10 calendar days after the maturity date to withdraw the funds in the account without being charged an early withdrawal penalty. 
• CD Special: Requires an Independent Bank checking account. These rates only apply to personal CDs.