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• IRA CD Rates in Indiana February 2010

  Following are the IRA CD rates offered by some banks in Indiana for February 2010. Note that the rates are subject to change. The highest rate is a 60 month IRA CD/5 year IRA at 3.00%APY offered by Garrett Savings Bank and Indiana First Bank.

  1. Terre Haute Savings Bank

  Product	Average Percentage Yield	Minimum Deposit
  12 month fixed	1.25%	$500.00
  18 month variable	1.25%	$10.00
  18 month fixed	1.30%	$500.00
  24 month fixed	1.40%	$500.00
  30 month fixed	1.50%	$500.00
  36 month fixed	1.70%	$500.00
  48 month fixed	1.85%	$500.00
  60 month fixed	2.25%	$500.00

  2. Indiana First Bank - http://www.infirstbank.com/home/rates#ira

  Product	Average Percentage Yield	Minimum Deposit
  6 month IRA	1.00%	$100.00
  1 year IRA	1.25%	$100.00
  2 year IRA	1.75%	$100.00
  3 year IRA	2.25%	$100.00
  4 year IRA	2.50%	$100.00
  5 year IRA	3.00%	$100.00

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• Hancock Bank IRA Rates

  Hancock Bank, a Florida based bank, is offering Certificate of Deposit IRA with very competitive rates. The rates below applies to IRAs opened through CDs. Minimum balance required to open is $1,000.

  • 6 months – 1.60%APY
  • 1 year  – 2.00%APY
  • 18 months  – 2.25%APY
  • 2 years – 2.40%APY
  • 3 years – 2.50%APY
  • 4 years – 2.75%APY
  • 5 years – 3.00%APY

  The 5 year term IRA rate is quite tempting. However, your money will be tied up in the bank for 3 long years. No one knows when the IRA rate increases so perhaps the best strategy, for the meantime, is to go for a short term. Ideally, most people would go for a 1 year term, which is not bad. Hancock Bank’s 1 year IRA rate is currently at 2.00%APY which is way above the 12 month bank IRA rates offered in California for January 2010.

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• 12 month bank IRA Rates in California January 2010

  While credit unions offer better rates on IRA Accounts, IRA rates are still pretty low at this time.  However, you can still find banks offering good IRA rates in California with a little bit of research. Let’s take a look at some of these banks in California. We will focus on the 12 month IRA rate as you may not want to tie down your money on a long term IRA account so as not to miss an opportunity once banks decide to increase their rate offers.

  Below are 12 month bank IRA rates offered by some banks in California:

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• NIH Federal Credit Union 7 month IRA 3.00%APY

  Credit unions still offer the best IRA rates. Take for example the NIH Federal Credit Union which, as of November 9, 2009, offers very competitive 7 month IRAs.

  Depending on the amount of your minimum deposit, you could earn as much as 3.00%APY. For a 7 month term IRA, NIH Federal Credit Union offers the following IRA rates:

  • 7 month (minimum balance of $500) – 1.55%APY
  • 7 month (minimum balance of $10,000) – 1.95%APY
  • 7 month (minimum balance of $10,000 with direct deposit) – 3.00%APY
  • 7 month (minimum balance of $10,000 without direct deposit) – 2.75%APY

  NIH Federal Credit Union has locations in Maryland, the District of Columbia and Virginia. It is a non-profit cooperative offering membership shares in the form of savings deposits.

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