Hancock Bank IRA Rates

Hancock Bank, a Florida based bank, is offering Certificate of Deposit IRA with very competitive rates. The rates below applies to IRAs opened through CDs. Minimum balance required to open is $1,000.

  • 6 months – 1.60%APY
  • 1 year  – 2.00%APY
  • 18 months  – 2.25%APY
  • 2 years – 2.40%APY
  • 3 years – 2.50%APY
  • 4 years – 2.75%APY
  • 5 years – 3.00%APY

The 5 year term IRA rate is quite tempting. However, your money will be tied up in the bank for 3 long years. No one knows when the IRA rate increases so perhaps the best strategy, for the meantime, is to go for a short term. Ideally, most people would go for a 1 year term, which is not bad. Hancock Bank’s 1 year IRA rate is currently at 2.00%APY which is way above the 12 month bank IRA rates offered in California for January 2010.

Leave a Reply

Your email address will not be published. Required fields are marked *