A Comparison of Bank IRA Rates for January 2013

Bank IRA rates are still at its lowest point. For folks who have been looking for ways to boost their retirement income, it’s kind of a regular routine to check more often which among the banks or financial institution out there offers the best IRA rate.

With numerous IRA offers from banks, it is hard to tell which is the best IRA considering the many incentives that may come with an IRA account opening.

For example, Sharebuilder by Capital One is offering a $500 bonus when you Rollover a 401(k) or transfer an IRA to a Sharebuilder IRA. This is just one of the few incentives that banks are giving out to potential clients.

The best way is to make a comparison of IRAs offered by banks taking into consideration the amount of  money invested as well as its term.

Here are few bank IRA rates offered for January 2013:

  1. Nationwide Bank IRA Rates

Term

Annual Percentage Yield (APY*)

$0 –
$9,999.99
$10,000 –
$99,999.99
$100,000+
3 Month 0.25% 0.25% 0.30%
6 Month 0.45% 0.45% 0.50%
12 Month 1.00% 1.00% 1.05%
24 Month 1.15% 1.15% 1.20%
36 Month 1.30% 1.30% 1.35%
48 Month 1.56% 1.56% 1.61%
60 Month 1.80% 1.80% 1.85%

 

  1. Metlife Bank

IRA Money Market Account

Deposit Amount

APY* (as of 08/28/12)

Up to $4,999 0.15%
$5,000-$9,999 0.25%
$10,000-$24,999 0.85%
$25,000+ 0.85%

IRA Certificates of Deposit Rates as of: 08- 28- 12

Term

$2,000 – $14,999 $15,000 – $24,999 $25,000 – $49,999 $50,000 +
3 Months 0.25% 0.35% 0.45% 0.50%
6 Months 0.35% 0.55% 0.65% 0.70%
9 Months 0.40% 0.65% 0.70% 0.80%
12 Months 0.85% 0.95% 1.05% 1.05%
18 Months 1.12% 1.12% 1.12% 1.12%
24 Months 1.17% 1.17% 1.17% 1.17%
36 Months 1.30% 1.30% 1.30% 1.30%
48 Months 1.40% 1.40% 1.40% 1.40%
60 Months 1.50% 1.50% 1.50% 1.50%

 

  1. Ally Bank

Term

Rate

APY

Estimated Earnings

2 years 1.12% 1.13% $1,132.62
4 years 1.34% 1.35% $2,753.07

 

  1. MidFirst Bank Alabama

IRA Rates

Description

Minimum Balance

Interest Rate

APY

91 Day

$1,000

0.20%

0.20%

182 Day

$1,000

0.40%

0.40%

11 Month Special

$5,000

0.55%

0.55%

12 Month

$500

0.40%

0.40%

13 Month Special

$5,000

0.65%

0.65%

18 Month

$500

0.65%

0.65%

19 Month Special

$5,000

0.80%

0.80%

24 Month

$500

0.80%

0.80%

30 Month

$500

1.00%

1.00%

36 Month

$500

1.05%

1.05%

48 Month

$500

1.14%

1.15%

60 Month

$500

1.24%

1.25%

84 Month

$500

1.78%

1.80%

 

  1. Discover Bank IRA Rates

IRA CD Rate Chart

Term

Interest Rate

APY1

3 Months 0.40% 0.40%
6 Months 0.75% 0.75%
9 Months 0.80% 0.80%
12 Months 1.00% 1.00%
18 Months 1.04% 1.05%
24 Months 1.14% 1.15%
30 Months 1.19% 1.20%
3 Years 1.29% 1.30%
4 Years 1.49% 1.50%
5 Years 1.64% 1.65%
7 Years 1.88% 1.90%
10 Years 1.98% 2.00%
Rates as of 01/8/13

 

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