Although there are studies devoted to lower Indium (In) addition, Sn-Bi alloys containing 10 wt.% In or more have been barely investigated so far. Higher In contents may offer the potential for improved joint production, better control over the growth of interfacial layers, and enhanced mechanical strength. The present article focuses on the solidification, wettability, adhesion strength, and interfacial intermetallic growth in the Sn-40%Bi-10%In alloy soldered on Cu and Ni pads. SEM-EDS, wettability tests, and tensile tests were performed. The contact angles were measured in Cu and Ni as 24° and 26°, respectively. Indium addition promoted coarsening of the as-solidified microstructure due to an increase in the alloy solidification range. The Bi spacing was increased at least three times, with a strong segregation of Bi towards the interface. The formation and growth of alloy/Cu reaction layers were also evaluated under the different aging conditions of the as-soldered joints, simulating real service. A growth kinetics model of the reaction layer showed that In increases the activation energy, thereby reducing the layer growth. The adhesions of the formed intermetallics films in Cu and Ni were analyzed using tensile tests. It was observed that the alloy/Ni couple exhibited better adhesion. Premature fracturing appears to happen in the alloy/Cu joint due to the higher intermetallic compound’s (IMC) thickness, rough morphology, and coarser microstructure. Both ductile fracture features with dimples and cleavage zones associated with Bi, Cu6(Sn,In)5, and Ni3Sn4 intermetallics were observed.