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• Ally Bank IRA High Yield at 1.03%APY

  If you make a thorough research of banks, you will notice that there are only few banks that are offering a high yield IRA. An example is Ally Bank, a direct bank.

  Ally offers an IRA high yield certificate of deposit, an IRA 12-month CD, at 1.03%APY. With this, you can rollover with Traditional or Roth IRAs. You can compare this IRA rate with a compilation of the best IRA CD rates for October 2011.

  The good thing about this offer is that the bank is not charging a fee for maintaining your IRA account. In other words, no monthly or annual fees for maintaining your IRA account.

  The bank also has a Ten Day Best Rate Guarantee, which allows you to automatically get the best rate it offers when you renew your CD. In other words, when you renew your IRA CD, you will automatically get the best rate offer within 10 days beginning with the CD renewal date.

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• Discover Bank Certificate of Deposit Best Rates

  If you like investing your money in a certificate of deposit, perhaps you are among those individuals who are always searching for banks that offer the best certificate of deposit rates. There are so many banks offering certificate of deposits with rates they consider to be the best in the market, but it is up to you, as the depositor, to make a comparison. The key is to compare which among these banks is offering the best certificate of deposit rate.

  Investing in a certificate of deposit is a good investment strategy because certificate of deposits are safe investments. Here is why a certificate of deposit is a good way of accumulating wealth:

  • The bank will return you money anytime you need it;
  • The value of your investment is sure to never go down;
  • The money is guaranteed to earn you a decent interest income; and
  • The return of your investment is guaranteed.

  Discover Bank, for example, is offering certificate of deposits with terms from 3 months to 120 months. In its rate sheet, updated as of October 22, 2011, Discover Bank certificate of deposit best rates are as follows:

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• Monona State Bank IRA Certificate Rates, October 2011

  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

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