KeyDirect offers FDIC insured 28 month term IRA tiered CD at 2.50%APY. It’s an Individual Retirement Account (IRA) invested in Certificate of Deposit accounts.
For the IRA Tiered CD, the bank requires a minimum opening deposit of $2,000. Interest are compounded daily. However, to obtain the 2.50%APY, customers must maintain an IRA CD account balance of between $1,000 to $49,999.99.
KeyDirect operates via phone, mail or online only.
Update: KeyDirect’s 28 month term IRA CD is up by 0.15%APY. Rate is now 2.65%APY, was 2.50%APY in May 2009.