Monona State Bank, with locations in Wisconsin, current IRA certificate rates are quite competitive. The bank’s rate sheet as of October 7, 2011, shows an offering of 1 year to 5 year term IRA certificates.
A year ago or sometime in March 2010, Monona State Bank offers IRA certificates with the same terms from 1 year to 5 years. The IRA certificate rates offered that time fared with what other banks offered.
This October 2011, Monona Sate Bank offered IRA certificates with the same terms of 1 year to 5 years. However, as you can see, there is a big drop in the IRA certificate rates being offered now compared to what was offered a year ago. Below are the current IRA certificate rates of Monona State Bank:
1 year term – 0.57%APY
2 year term – 0.80%APY
3 year term – 1.15%APY
4 year term – 1.50%APY
5 year term – 1.75%APY
All of the above IRA certificate terms require at least $1,000 minimum to open. Monona State Bank also offers Money Market IRA at the rate of 0.05%APY with only $50 minimum to open.
If you are comfortable banking online, you may want to check what banks offer the best IRA CD rate for the month of October 2011. These banks offer online banking so you can open an IRA account online without the hassle of going to a branch. However, before doing so, call or check with a bank representative to make sure you get the current IRA certificate rate and if you are visiting the correct website of the bank.