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• Best IRA CD Rates October 2011

  Bank IRA CD rates change from time to time so it’s best to check around which bank offers the best IRA CD rate. For the month of October 2011, we have gathered the following banks which offer the highest APY on IRA CD.

  Here are our top 5 banks offering the highest APY for a 12 month IRA CD. Compare the below certificate of deposit rates with what was offered in September 2011.

  1. Ascencia – 1.13%APY. Minimum amount required to open is $500.

  2. Aurora Bank – 1.13%APY. $1,000 minimum is required to open.

  3. AloStar Bank of Commerce – 1.12%APY. $1,000 minimum is required to open.

  4. Goldwater Bank – 1.12%APY. The bank requires at least $5,000 minimum to open. Quite high for a 1.12%APY rate.

  5. AIG Bank – 1.10%APY. Requires $2,500 minimum to open.

  The top 5 banks offering the highest APY for a 5 year IRA CD are:

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• AloStar Bank of Commerce IRA CD Rates September 2011

  AloStar Bank IRA CD Rates for September 2011 is quite competitive. Below are AloStar Bank’s IRA CD Rates accurate as of September 17, 2011. Please note that the bank’s IRA CD rate changes at anytime so it is best to check directly with the bank for updates.

  • 12 month IRA – 1.21%APY
  • 24 moth IRA – 1.37%APY
  • 36 month IRA – 1.37%APY

  You can open an IRA CD account online, which gives you 24/7 access to your account. If however you are not comfortable opening an online account, then you better visit one of its branch locations.

  AloStar also offers Express Deposit that allows you to transfer funds into your AloStar bank account from another financial institution.

  AloStar Bank of Commerce, headquartered in Birmingham, Alabama, is the successor of Nexity Bank, which was closed on April 15, 2011 by the State of Alabama Banking Department. The bank does business in 48 states with a commercial office location in Atlanta.

  If you are looking for a long term IRA CD, check out the best 7 year IRA CD rates offered by other banks.

   

   

   

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• Discover Bank CD Rates for September 2011

  Update September 22, 2011:

  Below are updated Discover Bank CD Rates.

  3 months  - 0.40%APY

  6 months  –  0.80%APY

  9 months – 0.90%APY

  12 months – 1.10%APY

  18 months – 1.20%APY

  24 months – 1.30%APY

  30 months – 1.40%APY

  36 months/3 years – 1.60%

  48 months/4 years – 1.75%APY

  60 months/5 years – 2.15%APY

  84 months/7 years – 2.25%APY

  120 months/10 years – 2.50%APY

  The 3 months, 6 months, 9 months and 3 years CD rates are down by 0.10%. The 12, 18, 24 and 30 months as well as the 4 and 5 years CD rates are down by 0.05%. The 7 year term CD rate is also down by 0.20%. The biggest drop is on the 10 year term CD, which dropped 0.50%.

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  Discover Bank, which is a bankrate.com Top Tier Quarterly Winner in Q2 2010 for high yields, is offering yet another high yield CDs for September 2011. The offered CD rates below apply to personal accounts only for terms from 3 months to 10 years and are based on a $2,500 minimum balance. However, before we delve into Discover Bank’s CD rates, let’s check the bank’s fee schedule for CD accounts. Herein below are the fees which may be imposed by the bank to your account:

  • Both domestic and international wire transfers are FREE

  • Outgoing domestic wire is $20

  • Outgoing international wire is $40

  • If you want to request copy of your statement or check deposit item, the fee is $5

  • Returned deposit item is $15

  • Withdrawal by official bank check is $5. Note that the fee is per check.

  Discover Bank CD rates are competitive and are above the national average. Please see below rate schedule of Discover Bank’s CD rates for September 211. These CD rates are effective as of September 13, 2011.

  3 months  - 0.50%APY

  6 months  –  0.90%APY

  9 months – 1.00%APY

  12 months – 1.15%APY

  18 months – 1.25%APY

  24 months – 1.35%APY

  30 months – 1.45%APY

  3 years – 1.70%APY

  4 years – 1.80%APY

  5 years – 2.20%APY

  7 years – 2.45%APY

  10 years – 3.00%APY

  If you are contemplating of preparing for retirement, you may want to check Discover Bank’s IRA CD rates. Or, if you are looking for a long term IRA CD, you can check the best 7 year IRA CD rates for September 2011. Please note that these bank IRA CD rates changes often so check directly with the respective banks before account opening.

   

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