Pacific Trust Bank, a federally chartered stock savings bank based in California, is offering IRA CD rates that are very competitive with terms from three months to five years.
A great IRA CD offer of the bank is the Flex 15 Months “Bump Up” IRA CD wherein a customer can request once to bump up the rate if there is a rate increase. The IRA CD rate for this flex 15 month (1 time bump) as of May 1, 2009 is 1.81%APY for balances of between $500 to $4,999, 1.92%APY for balances of between $5,000 to %49,999, 1.97%APY for balances of between $50,000 to $94,999 and 2.02%APY for balances of between $95,000 and over.
Customers can check the complete list of IRA CD rates of Pacific Trust Bank here.
The bank requires a minimum certificate account balance of only $500. Note that interest rates are tiered so the greater your IRA CD account balance, the higher APY you will get.
The best thing is, if any of the following exceptions for IRA withdrawal applies, Pacific Trust Bank will waive any early withdrawal penalty on IRA CD accounts within a retirement plan:
- Customer reached age 70 ½;
- Customer reached age 59 ½ and are taking a prearranged schedule of systematic payments;
- Death, disability, or legal incompetence occur; or
- Customer convert the CD to a Roth IRA at Pacific Trust Bank.