Update 1. Nexity Bank made changes to its offered IRA CD rates in April 2009. For the 12 month IRA CD, it’s now 2.11%APY, down from the previous rate of 2.31%APY. The bank’s 24 month IRA CD and 36 month IRA CD are also down by 0.12%APY. It is now 2.29%APY.
Nexity Bank of Birmingham, Alabama is offering 2.41%APY for 24 month IRA and 36 month IRA. Its 12 month IRA is 2.31%APY. There are no administrative fees and IRA CDs are insured up to $250,000. Open to individual retirement accounts.
IRA CDs are great investment options for those planning for retirement. Note that the 2009 contribution limit for Traditional IRA CDs is $5,000. Same is true with Roth IRA CDs.