For example, 6 month IRA account has an APY of 1.00%. The rest of Valley Bank’s IRA terms are as follows:

• 1 year – 2.00%APY
• 1.5 years – 1.75%APY
• 2 years – 2.25%APY
• 2.5 years – 2.75%APY
• 3 years – 3.00%APY
• 4 years – 3.25%APY
• 5 years – 3.50%APY
• 6 years – 3.75%APY

Valley National Bank, based in New Jersey, is insured with FDIC.

Update August 14, 2009:

• 1 year – 1.50%APY (down by 0.50%APY)
• 1.5 years – 1.75%APY
• 2 years – 2.25%APY
• 2.5 years – 2.75%APY
• 3 years – 3.00%APY
• 4 years – 3.25%APY
• 5 years – 3.50%APY
• 6 years – 3.75%APY

Update October 23, 2009: Valley National Bank IRA rates are down.

• 1 year – 1.25%APY
• 1.5 years – 1.50%APY
• 2 years – 2.00%APY
• 2.5 years – 2.25%APY
• 3 years – 2.50%APY
• 4 years – 2.75%APY
• 5 years – 3.00%APY
• 6 years – 3.25%APY

Update January 4, 2010: Valley National Bank IRA rates are down for terms from 1 year to 4 years but remain steady for 5 years and 6 years term. In other words, the longer your money stays in the bank, the higher interest you will get. Good for those really serious about saving money for retirement.

• 1 year – 0.80%APY
• 1.5 years – 1.25%APY
• 2 years – 1.40%APY
• 2.5 years – 1.50%APY
• 3 years – 2.00%APY
• 4 years – 2.25%APY
• 5 years – 3.00%APY
• 6 years – 3.25%APY