First Federal Savings Bank savings, CD and money market rates
First Federal Savings Bank advertises up to 0.50% APY on its Next Generation Savings account. The 0.50% needs a balance of at least $250,000. Below that, the account advertises 0.00%.
On a $10,000 balance the account earns 0.30% overall, about $30 in a year, which is 0.07 percentage points below the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #1036 of 2786 tracked savings rates by advertised APY. For a $10,000 balance it would rank #1124. The advertised rate has not changed in the 6 weeks since Banksparency began tracking it, through 1 Federal Reserve rate move.
Estimate your earnings·What First Federal Savings Bank actually pays
First Federal Savings Bank at a glance
| Savings | |
|---|---|
| Top savings APY | Up to 0.50% · Next Generation Savings · needs at least $250,000 |
| Minimum to open | $100 · Next Generation Savings |
| Against the national average | 0.13 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 3.75% · 8 months · 8 Month CD |
| Minimum to open | $500 · 8 months CD |
| Money market | |
| Top money market APY | Up to 3.25% · High Yield Money Market · needs at least $1,000,000 |
| Minimum to open | $0 · High Yield Money Market |
| Against the national average | 2.62 percentage points above the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 29056 · Evansville, IN |
|---|---|
| Website | www.firstfedsavings.bank |
| Branches | 10 branches in IN, KY |
| Availability | Available in IN, KY |
First Federal Savings Bank savings, CD and money market rates
How the rate applies
How the rate applies
How the rate applies
How the rate applies
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 59 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.65%, and one account in ten advertises 4.16% or more. See the highest savings rates.
First Federal Savings Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 3 months | 3.35% | $2,500 | 91 Day CD |
| 6 months | 3.63% | $2,500 | 182 Day CD |
| 8 months | 3.75% | $500 | 8 Month CD |
| 12 months | 3.73% | $500 | 1 Year CD |
| 15 months | 3.61% | $500 | 15 Month CD |
| 18 months | 3.51% | $500 | 18 Month CD |
| 24 months | 3.38% | $500 | 2 Year CD |
| 36 months | 3.35% | $500 | 3 Year CD |
| 48 months | 3.31% | $500 | 4 Year CD |
| 60 months | 3.29% | $500 | 5 Year CD |
Interactive Tool
Calculate Savings for First Federal Savings Bank
All calculations are based on APY.
Tiered rates: 0.25% to 1.50% APY across 5 balance tiers.
Savings Breakdown
- Interest Earned+$139.60(1.0%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,139.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What First Federal Savings Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined. The 0.50% needs a balance of at least $250,000. Below that, the account advertises 0.00%.
In Q2 2026, First Federal Savings Bank paid a higher average rate on savings and money market deposits than 46% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- First Federal Savings Bank, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Health Savings Account | 1.50% | $50 | $0 | None | $2 monthly service charge if the balance falls below $2,500. | not stated | Tiered | |
| Fine print: The opening minimum deposit and the monthly service charge are waived for group enrollment. | ||||||||
| Next Generation Savings | 0.50% | $100 | $0 | None | A $5 monthly fee applies if the daily balance falls below $100., can be waived | not stated | Tiered | |
| Christmas Club | 0.10% | $20 | $0 | None | No monthly service charge | not stated | One rate | |
| Fine print: Funds are distributed once a year. An early distribution fee of $10 applies if funds are taken before the annual payout, and the account renews automatically. | ||||||||
| High Yield Money Market | 3.25% | $0 | $0 | None | $10 monthly service fee (waived when you open a FFSB checking account | not stated | Tiered | |
| Fine print: The monthly service fee is waived when a First Federal Savings Bank checking account is also opened. | ||||||||
| First Choice Money Market | 0.55% | $10,000 | $0 | None | $10 monthly service charge if balance falls below $10,000 | not stated | Tiered | |
| Money Market | 0.25% | $1,000 | $0 | None | $6 monthly service charge if balance falls below $1,000, can be waived | not stated | Tiered | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 91 Day CD | 3 months | 3.35% | $2,500 | not stated | not stated |
| 182 Day CD | 6 months | 3.63% | $2,500 | not stated | not stated |
| 8 Month CD | 8 months | 3.75% | $500 | not stated | not stated |
| 1 Year CD | 12 months | 3.73% | $500 | not stated | not stated |
| 15 Month CD | 15 months | 3.61% | $500 | not stated | not stated |
| 18 Month CD | 18 months | 3.51% | $500 | not stated | not stated |
| 2 Year CD | 24 months | 3.38% | $500 | not stated | not stated |
| 3 Year CD | 36 months | 3.35% | $500 | not stated | not stated |
| 4 Year CD | 48 months | 3.31% | $500 | not stated | not stated |
| 5 Year CD | 60 months | 3.29% | $500 | not stated | not stated |
Opening and using the account
| Availability | Available in IN, KY |
|---|---|
| Footprint | 10 branches in IN, KY |
| Eligibility | not stated |
How First Federal Savings Bank behaves over time
Every observation of the advertised Next Generation Savings rate in the last 12 months was 0.50% (observed through Oct 3, 2026). The series includes promotional tiers where one applied.
First Federal Savings Bank has not changed its advertised savings rate in the 6 weeks since Banksparency began tracking it, through 1 Federal Reserve rate move.
- Next Generation Savings
- The same as 30 days ago.
- 8 months CD
- The same as 30 days ago.
- High Yield Money Market
- The same as 30 days ago.
- Rate last changed
- Aug 17, 2026(effective date)
$10,000 at the 0.50% APY First Federal Savings Bank advertises on Next Generation Savings grows to $10,050 in a year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). After a year of prices rising at that pace, it buys as much as $9,720 does today. See how the federal funds rate shapes savings rates.
First Federal Savings Bank CD rates over time
Who is First Federal Savings Bank?
| Headquarters | Evansville, IN |
|---|---|
| Founded | 1934 |
| Scale | $576M assets · $473M deposits, $441M of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 29056 |
| Charter state | Indiana · one of 88 insured banks chartered there (Q2 2026, FDIC) |
| Size | 1,641st-largest by deposits of 4,238 insured banks (Q2 2026, FDIC) |
| Deposit growth | Higher than at 8% of 4,226 insured banks over the four quarters to Q2 2026 (FDIC) |
Financial detail is in What First Federal Savings Bank pays on deposits above.
Common questions about First Federal Savings Bank
Is First Federal Savings Bank FDIC insured?
Yes. First Federal Savings Bank is FDIC insured under certificate 29056, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at First Federal Savings Bank?
First Federal Savings Bank requires a minimum deposit of $100 to open its Next Generation Savings account, as observed on Oct 3, 2026. Check the bank's current terms before you open an account.
Does the 0.50% apply to my whole balance?
The 0.50% needs a balance of at least $250,000. Below that, the account advertises 0.00%. Rates are as observed on Oct 3, 2026.
Does First Federal Savings Bank have branches?
Yes. First Federal Savings Bank operates 10 branches according to FDIC branch records, in addition to its website and mobile apps.
First Federal Savings Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| First Federal Savings Bank | 0.50% | 1.35% | $100 | 10 branches in IN, KY |
| AbbyBank | 0.50% | 1.34% | $0 | 9 branches in WI |
| Adams State Bank | 0.50% | not stated | $25 | 1 branch in NE |
| Bank of Colorado | 0.50% | 1.53% | $200 | 60 branches in AZ, CO, NM |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to First Federal Savings Bank's.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in Indiana, nearest to First Federal Savings Bank in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.
State pages: banks in Indiana.