If you are contemplating of opening a Roth or Traditional IRA CD, you’d better have the best information possible as to where you can have the best IRA CD rate. It’s your retirement that you are planning. While it makes sense to not put your money in one basket, it makes more sense putting it where you will get the best return on your investment. IRA CD rates are low, but somehow, there are financial institutions that manages to give clients more bang on their buck.
For example, Discover Bank offers a Roth and Traditional IRA CD at 3.25%APY. This is based on the bank’s rate chart as of August 24, 2010. You may however have to wait longer before you get to enjoy the APY as it is for a 10 year term IRA CD.
If you can’t afford to keep your money in the bank longer, then you may opt for shorter terms. Below are the short-term IRA CDs offered by Discover Bank:
- 3 months – 0.70%APY
- 6 months – 1.00%APY
- 9 months – 1.10%APY
- 12 months – 1.45%APY
- 18 months – 1.60%APY
- 24 months – 1.80%APY
Note that Discover Bank’s IRA CD rates change daily.