BEST OF

8 Best IRA CD Rates 2024

Spencer Tierney
By Spencer Tierney 
Edited by Sara Clarke

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An IRA CD is an IRA — an individual retirement account — that holds certificates of deposit. The best IRA CD rates can help you see what guaranteed returns you could get for retirement funds stored at a bank. Unlike other types of investments, they don’t come with much risk.

Why trust NerdWallet: Our writers and editors follow strict editorial guidelines to ensure fairness and accuracy in our coverage to help you choose the financial accounts that work best for you. See our criteria for evaluating banks and credit unions.

» Learn more about other safe investment options

IRA CDs provide guaranteed returns, but stocks and other investment options at brokerage firms can provide much higher yields. If you’re an investor decades from retirement, experts recommend putting minimal, if any, retirement funds into CDs and allocating more of your IRA to stocks and bonds.

If IRA CDs make sense for your retirement plans, banks and credit unions generally offer up to three types of IRAs: traditional IRAs that tax money upon withdrawal, Roth IRAs that tax contributions the year they’re added and let earnings grow tax-free, and SEP IRAs that have higher limits than the other types but are for self-employed savers and small businesses.

🤓Nerdy Tip

Some banks have started lowering CD yields, though overall rates remain high. With a CD, you can lock in high rates while they’re still around.

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8 Best IRA CD Rates 2024

Our pick for

IRA CD rates

NerdWallet rating 

4.0

/5
Discover® IRA CD
Minimum deposit
$2,500
Member FDIC
APY
1-year APY: 4.80%

3-year APY: 3.75%

5-year APY: 3.75%
NerdWallet rating 

4.0

/5
Connexus Credit Union IRA Certificate
Minimum deposit
$5,000
Federally insured by NCUA
APY
1-year APY: 4.76%

3-year APY: 4.21%

5-year APY: 3.51%
NerdWallet rating 

5.0

/5
Synchrony Bank CD IRA
Minimum deposit
$0
Member FDIC
APY
1-year APY: 4.90%

3-year APY: 4.15%

5-year APY: 4.00%
NerdWallet rating 

5.0

/5
Ally Bank IRA CD
Minimum deposit
$0
Member FDIC
APY
1-year APY: 4.65%

3-year APY: 4.00%

5-year APY: 3.90%
NerdWallet rating 

5.0

/5
Alliant Credit Union IRA Certificate
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.40%

3-year APY: 4.30%

5-year APY: 4.00%
NerdWallet rating 

4.0

/5
PenFed Credit Union IRA Certificate
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 4.55%

3-year APY: 4.00%

5-year APY: 3.90%
NerdWallet rating 

4.0

/5
Self-Help Credit Union IRA Term Certificate
Minimum deposit
$500
Federally insured by NCUA
APY
1-year APY: 4.71%

3-year APY: 4.08%

5-year APY: 4.08%
NerdWallet rating 

4.0

/5
Andrews Federal Credit Union IRA Certificate
Minimum deposit
$1,000
Federally insured by NCUA
APY
1-year APY: 5.00%

3-year APY: 4.20%

5-year APY: 3.90%

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

Best IRA CD rates 2024

  • Discover® Bank: APYs: 4.80% (1 year); 3.75% (3 years); 3.75% (5 years); Term range: 3 months - 10 years; Minimum to open: $2,500.

  • Connexus Credit Union: APYs: 4.76% (1 year); 4.21% (3 years); 3.51% (5 years); Term range: 1 - 5 years; Minimum to open: $5,000.

  • Synchrony Bank: APYs: 4.90% (1 year); 4.15% (3 years); 4.00% (5 years); Term range: 3 months - 5 years; Minimum to open: None.

  • Ally Bank: APYs: 4.65% (1 year); 4.00% (3 years); 3.90% (5 years); Term range: 3 months - 5 years; Minimum to open: None.

  • Alliant Credit Union: APYs: 5.40% (1 year); 4.30% (3 years); 4.00% (5 years); Term range: 3 months - 5 years; Minimum to open: $1,000.

  • Pentagon Federal Credit Union: APYs: 4.55% (1 year); 4.00% (3 years); 3.90% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.

  • Self-Help Credit Union: APYs: 4.71% (1 year); 4.08% (3 years); 4.08% (5 years); Term range: 3 months - 5 years; Minimum to open: $500.

  • Andrews Federal Credit Union: APYs: 5.00% (1 year); 4.20% (3 years); 3.90% (5 years); Term range: 6 months - 7 years; Minimum to open: $1,000.

What is an IRA CD?

An IRA CD is an investment account that holds CDs designated for retirement. You can generally open an IRA plan at a bank or brokerage that holds multiple CDs or other interest-bearing accounts. An IRA CD can be one of three types: traditional IRA with pre-tax money, Roth IRA with after-tax money (and tax-free earnings), or SEP IRA for self-employed savers and small businesses. (See more details about IRAs.)

IRA vs. CD: What's the difference?

A certificate of deposit, or CD, is a type of savings account that requires people to put money away for a set period. That’s called the "term length," and it generally ranges from three months to five years. Longer terms tend to earn higher returns.

An IRA, or individual retirement account, is a tax-advantaged account that can hold different types of investments, including stocks, bonds and CDs.

» Learn more: How CDs compare to other low-risk investment options

Last updated on January 12, 2024

Methodology

We selected financial institutions with a focus on the highest CD rates available for CDs designed for IRAs, as well as nationwide membership eligibility, when relevant.

We took a close look at over 90 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Amalgamated Bank, America First Credit Union, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Bank7, Barclays, Bask Bank, Bethpage Federal Credit Union, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Carver Federal Savings Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens, Citizens Bank, City First Bank, Climate First Bank, Commerce Bank, Community First Credit Union of Florida, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Delta Community Credit Union, Discover® Bank, E*TRADE, EverBank (formerly TIAA Bank), Fifth Third Bank, First Foundation, First National Bank, First Tech Federal Credit Union, Flagstar Bank, FNBO Direct, Global Credit Union, GO2bank, Golden 1 Credit Union, Greenwood, Hope Credit Union, Huntington Bank, Industrial Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Liberty Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, Navy Federal Credit Union, NBKC, One, OneUnited Bank, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Suncoast Credit Union, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

To recap our selections...

NerdWallet's 8 Best IRA CD Rates 2024

Frequently asked questions