Bump Up IRA CD Rate for April 2011

Bump Up Individual Retirement Account (IRA) is a great way to boost your IRA earnings. But, what exactly is a bump up IRA? By bump up IRA means your IRA rate will go up if a higher rate is being offered or a one time rate adjustment is permitted anytime during the original term. Seldom offered by banks, you can still check out some who are offering this bump up IRA. Check them out and compare.

1. Hills Bank and Trust Company. The bank is offering a 24 month Bump up IRA at 1.45%APY. A $500 minimum amount is required to open and earn the APY.

2. Mt. Washington Bank, a division of East Boston Savings Bank. The bank is offering a special deal offer, a 30-month bump up IRA special at 1.75%APY. There is a $500 minimum amount required to open, but only $25 minimum to obtain the APY.

3. NRL Federal Credit Union. They are currently offering 24 month Bump up IRA at 0.95%APY and a 36 month Bump up IRA at 1.35%APY. You must opt in to bump up.

4. First Colebrook Bank. The bank offers a 23 month Bump up IRA special at 0.90%APY. Only $10 minimum to open.

5. First National Bank. Current offer is a 36-month Bump up IRA at 1.41%APY,  a 48-month Bump up IRA at 1.61%APY and a 60-month Bump up IRA at 1.92%APY. Minimum opening deposit is $250 but $1,000 minimum balance is required to obtain the APY.

6. Madison Bank of Maryland. Its offer effective April 4, 2011 is a 60 month Bump up CD at 2.25%APY. The minimum balance to open and earn the stated APY is $500.

7. Mid Penn Bank is not offering Bump up IRAs, but offers special IRA rates. 25 month IRA rate is 1.55%APY, 32 month IRA is 2.05%APY, 45 months IRA special rate is 2.25%APY and 56 month IRA special is 2.65%APY. A $500 minimum balance is required to obtain APY.

8. State Bank of Belle Plaine. It offers an IRA 30 month CD with 1 bump up option at 1.50%APY and an IRA 60 month CD with a 2 bump up option at 1.80%APY. Minimum opening deposit and minimum balance to obtain APY is $1,000.

In 2009, a few credit unions offered IRA CDs with Bump up rate.

 

 

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