Rate Trends

IRA

What is a CD IRA?

An IRA is an Individual Retirement Account. A CD IRA, Certificate of Deposit IRA, is an account that can often earn higher returns than that of a normal IRA. These accounts essentially work like a CD but with the added benefit that they can be used as retirement accounts.

How to Read the Average Rate Chart

As with most savings accounts, the longer the term of your deposit the higher the rate of return will be. For example, a five-year IRA CD will often have higher returns than a one-year CD. However, keep in mind, there are trade-offs. The longer you keep your money in a CD, you lose the flexibility of moving it to other financial vehicles... even if you find one with higher yields.