Putting your money in a seven (7) year IRA CD is quite a long wait but, with rates too low at this time, it is the best option to have in order to get the best return for your money. For those who are interested in investing for the long haul, following are the best seven (7) year IRA CD rates. The bank IRA CD rates are effective as of September 2011, but suggests to check the corresponding rate sheet for any update.
1. USAA (United Services Automobile Association) offers the following 7 year IRA CD rates:
Standard ($250-$94,999) – 2.41%APY
Jumbo ($95,000-$174,999) – 2.46%APY
Super Jumbo ($175,000 and over) – 2.51%APY
2. Discover Bank Roth & Traditional IRA CD rate
7 years – 2.45%APY
3. Intervest National Bank 7 years IRA CD – 2.05%APY and requires $2,500 minimum to open
4. Capital One 7 years CD – 1.80%APY and requires $5,000 minimum to open
5. iGObanking.com iGOcds for a 7 year term is 1.50%APY and requires $1,000 minimum to open
6. Comerica fixed rate 7 to 10 year CD – 1.25%APY and requires $1,000 minimum to open
If you are looking for longer term IRA CDs, you can go for 8, 9, or even 10 years, which offer higher rates but the wait can be very long. These terms are ideal only for those who have extra cash to stash away for the long term. Compare the above rates with a 60 month or 5 year IRA CD.