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Best IRA CD Rates -- October 2009

So far a few banks and credit unions have increased their IRA CD offerings.  One, a small community bank in Texas, had a 2.53% APY for 2-years with a one-time bump option.  The rate didn't last long so I won't name them.  However, I might in the future so you may want to stay in touch.   Wink, Wink, nod, nod.   The big player seems to be Alliant Credit Union.  They actually have CD rate specials quite often.  If you are an existing member the process is much faster than trying to become a member and then get a CD done.  So even if you run out of time, I think it would be a good idea to complete their process.  The hardest thing with them is they don't guarantee the rate beyond the current day.  So if you put the IRA process into gear and the rate drops, you're out of luck.  Anyone can become a member by first joining the National PTA.  This is $25,  I believe.  You then can complete the Alliant member application.  Be forewarned that their online process has proven difficult for many in the past.  It asks a series of questions about information it pulls from the credit bureaus and I've known several people that claimed the information was erroneous and thus they couldn't complete it online.  You can always go the route of snail mail if necessary.  Anyway, the current highest IRA CD rates are as follows: 1y -- 2.30% APY 2Y -- 2.55% APY 3Y -- 3.00% APY 5Y -- 3.25% APY. Their NCUA# is 67955 and they are based in the windy city of Chicago, IL.  They are quite large with over $6 Billion in assets.  As of March 2009 data, they have a 4-star rating. Another big player is Ally Bank, but they don't offer rates for IRA CDs.  People's Trust Federal Credit Union has an 18-month IRA for 2.12% APY.  They are based in Houston, TX.  They have a 2-star rating.  People's NCUA # is 177.  Looks like they have been around for a while.  I did have to make quite a few clicks to get to the rates.  I hate that.  The link below should save you some time. If you're wanting to stick with a bank try Nationwide Bank, FDIC# 34710.  Their process isn't too difficult.  They are about $2.25 Billion in assets, had a nice second quarter profit, and 4.5 stars.  Rates are: 1Y -- 2.05% APY 2Y -- 2.35% APY 3Y -- 2.60% APY 5Y -- 3.20% APY. Finding the Best IRA Certificate of Deposit Rates just takes a little searching.

Duplication commented:

Nice to find a huge post regarding the CD rates.First time I came across such rilliant post. Thanks for the nice sharing.

15.05.2012


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