IRAs are the best investment option to those who are wondering of how to grow their retirement money. If you are planning of retirement, IRA is the best option as the money can grow without you worrying about tax payments.
Because of the current state of the U.S. economy, IRA rates have been experiencing a downward trend. However, if you are into growing your money to the best investment option available out there, still IRA is the best.
The most one can do since IRA rates are down is to hold the money for a longer IRA term. Holding your IRA account for a shorter term can only give you a meager income. The longest term there is available is a 60 year term which gives a much better rate of return.
Below are some of the banks that give higher IRA CD rates on a 60 month IRA CD account.
- Discover Bank – 3.0%APY
- First Internet Bank – 2.40%APY for a 60 month CD
- AIG Bank – 2.20%APY for a 60 month high yield CD
- Ally Bank – 2.20%APY
- Nationwide – 2.20%APY
- Bankofinternet.com – 2.10%APY for a 60 month CD
- One West Bank – 1.90%APY
- Giantbank.com – 1.87%APY for a 60 month CD
- Metlife Bank – 1.80%APY for deposits of $50,000 and above
- Ascencia Bank – 1.60%APY on a 5 year CD with $500 minimum
- Capital One – 1.50%APY with a minimum deposit of $500
- Middlesex Savings Bank – 1.90%APY on a 60-71 months CD
- Aurora Bank – 1.30%APY on both Roth and Traditional IRA
Compare the above IRA CD rates with that of the IRA CD rates in June 2011.