Best IRA CD Rates
An IRA CD can add stability to your retirement portfolio.
A certificate of deposit lets you earn interest on a sum of money with a fixed annual percentage yield, or APY, over a fixed period of time, or term. CDs are a good savings option to park money for a few months or years with minimal risk of losing your earnings.
If you need to access the money before it fully matures, you’ll often pay an early withdrawal penalty that can reduce your interest earnings. Most CD options require a single deposit and don’t allow additional deposits, so you’ll need to gather your funds before opening an account. When you’re ready to open a CD, compare the best terms and rates among local credit unions and banks to find the right fit for your savings.
- Synchrony Bank $0 Min. deposit to open
- Discover $2,500 Min. deposit to open
- Alliant Credit Union $1000 Min. deposit to open
- Bethpage Federal Credit Union $50 Min. deposit to open
- PenFed Credit Union $1,000 Min. deposit to open
- Connexus Credit Union $5,000 Min. deposit to open
- Ally Bank $0 Min. deposit to open
- Citibank $250 Min. deposit to open
A type of savings account in which a lump-sum deposit accrues interest at a fixed rate for a fixed term, usually with an early withdrawal penalty.
A CD’s interest rate that represents the return from the compounded interest you’ll earn in 12 months on your deposit. The higher the APY, the faster your money grows.
The fixed period in which your deposit earns interest. The maturity date is the end of the term, which can range from one month to 10 years or more.
The fee for withdrawing your CD funds before maturity, often equalling a period's worth of interest, which varies by institution and length of CD term.
Similar to a CD, but issued by a credit union, in which a credit union member deposits a lump sum that accrues interest for a fixed term.
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