BEST OF

7 Best IRA CD Rates of 2021

Spencer TierneyMarch 11, 2021
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You generally can find the best IRA CD rates at online banks and credit unions. An IRA CD can be an option to consider if you’re looking for solid, guaranteed returns on retirement funds. Unlike other types of investments, they don’t come with much risk.

» Learn more about other safe investment options

Although IRA CDs provide guaranteed returns, stocks and other investment options can provide much higher yields. Experts recommend an IRA CD only making up a modest portion of anyone’s investment portfolio. In fact, if you’re an investor decades from retirement, experts recommend minimal, if any, funds into CDs and allocate all of your IRA to higher-yielding choices like stock mutual funds.

Summary of Best IRA CD Rates of 2021

Discover Bank IRA CD

4.0

NerdWallet rating 
Discover Bank IRA CD

1-year APY

0.50%

With $2,500 minimum balance

3-year APY

0.55%

With $2,500 minimum balance

5-year APY

0.60%

With $2,500 minimum balance

Minimum Balance

$2,500

Member FDIC


3-year APY

0.55%

With $2,500 minimum balance

5-year APY

0.60%

With $2,500 minimum balance

Why we like it

Discover has terms ranging from three months to 10 years, which is more than what most banks offer. Like its regular CDs, Discover’s IRA CD rates are competitive and the minimum to open CDs is relatively low.

Read Full Review

Connexus Credit Union CD

4.5

NerdWallet rating 
Connexus Credit Union CD

1-year APY

0.55%

With $5,000 minimum balance

3-year APY

0.75%

With $5,000 minimum balance

5-year APY

1.00%

With $5,000 minimum balance

Minimum Balance

$5,000

Federally insured by the NCUA


3-year APY

0.75%

With $5,000 minimum balance

5-year APY

1.00%

With $5,000 minimum balance

Why we like it

The easy-to-join credit union has a hefty minimum, but offers a solid array of rates for IRA CDs as well as IRA savings accounts.

Read Full Review

Synchrony Bank CD IRA

4.5

NerdWallet rating 
Synchrony Bank CD IRA

1-year APY

0.50%

With $0 minimum balance

3-year APY

0.65%

With $0 minimum balance

5-year APY

0.80%

With $0 minimum balance

Minimum Balance

$0

Member FDIC


3-year APY

0.65%

With $0 minimum balance

5-year APY

0.80%

With $0 minimum balance

Why we like it

Synchrony offers traditional and Roth IRA plans. There's no minimum deposit requirement for their IRA CDs, and the rates are competitive.

Read Full Review

Ally Bank IRA CD

5.0

NerdWallet rating 
Ally Bank IRA CD

1-year APY

0.55%

With $0 minimum balance

3-year APY

0.65%

With $0 minimum balance

5-year APY

0.80%

With $0 minimum balance

Minimum Balance

$0

Member FDIC


3-year APY

0.65%

With $0 minimum balance

5-year APY

0.80%

With $0 minimum balance

Why we like it

Ally offers a variety of CD types and terms, including IRA CDs with competitive rates and no opening minimums.

Read Full Review

Alliant Credit Union CD

4.0

NerdWallet rating 
Alliant Credit Union CD

1-year APY

0.50%

With $1,000 minimum balance

3-year APY

0.60%

With $1,000 minimum balance

5-year APY

0.65%

With $1,000 minimum balance

Minimum Balance

$1,000

Federally insured by the NCUA


3-year APY

0.60%

With $1,000 minimum balance

5-year APY

0.65%

With $1,000 minimum balance

Why we like it

Alliant's certificates, the credit union equivalent of CDs, have solid rates with low minimum deposit requirements. Alliant offers three types of IRA CDs: traditional with pre-tax money, Roth with after-tax money, and SEP for self-employed savers.

Read Full Review

Service Credit Union IRA CD

4.5

NerdWallet rating 
Service Credit Union IRA CD

1-year APY

0.50%

With $500 minimum balance

3-year APY

0.70%

With $500 minimum balance

5-year APY

0.95%

With $500 minimum balance

Minimum Balance

$500

Federally insured by the NCUA


3-year APY

0.70%

With $500 minimum balance

5-year APY

0.95%

With $500 minimum balance

Why we like it

The military-focused credit union extends membership to anyone who joins the American Consumer Council. Its IRA certificate rates are solid, though the minimum opening requirement is somewhat hefty.

Read Full Review

Consumers Credit Union IRA CD

4.0

NerdWallet rating 
Consumers Credit Union IRA CD

1-year APY

0.45%

With $250 minimum balance

3-year APY

0.60%

With $250 minimum balance

5-year APY

0.70%

With $250 minimum balance

Minimum Balance

$250

Federally insured by the NCUA


3-year APY

0.60%

With $250 minimum balance

5-year APY

0.70%

With $250 minimum balance

Why we like it

The credit union’s IRA certificates have a low minimum and a strong lineup of rates for terms from three months to five years.

Read Full Review

» Want to see more CD options? Check out our list of the best CD rates overall

Here are NerdWallet's picks for the best IRA CD rates:

  • Discover Bank: 0.20% - 0.60% APY, 3 months - 10 years, $2,500 minimum to open

  • Connexus Credit Union: 0.55% - 1.00% APY, 1 - 5 years, $5,000 minimum to open

  • Synchrony Bank: 0.15% - 0.80% APY, 3 months - 5 years, $2,000 minimum to open

  • Ally Bank: 0.20% - 0.80% APY, 3 months - 5 years, no minimum to open

  • Alliant Credit Union: 0.50% - 0.65% APY, 1 - 5 years, $1,000 minimum to open

  • Service Credit Union: 0.40% - 0.95% APY, 3 months - 5 years, $500 minimum to open

  • Consumers Credit Union: 0.35% - 0.70% APY, 3 months - 5 years, $250 minimum to open

Last updated on March 11, 2021

Methodology

We featured easy-to-join financial institutions that we've reviewed with the highest CD rates available for CDs designated for IRAs. Higher rates might be available elsewhere.

Frequently asked questions