Chris Duncan

Jumbo IRA CD Interest Rate Sources



Posted: Friday, August 06, 2010

by
Jumbo CD Investments, Inc.

In these tough times, finding decent Jumbo IRA CD rates can be quite trying.  Although rate increase seem to be far off, it must be remembered that the government is the one keeping the rates suppressed.  These days who can tell what they will do.  PIMCO theorizes it could be two to three years before we see rates increase.  Given uncertainty and just how low shorter-term CD yields are, here are a few resources to help boost your yields a little.

First, a search from your favorite search engine will yield lots of choices.  Some of our favorites are bankrate.com, depositaccounts.com (formerly bankdeals), and bankvibe.  The second two have a large network of readers that routinely share good finds with each other.  

Second, try a local credit union.  Since credit unions are non-profit, their goal is to give their members the best savings rates and lowest loan rates that they can.  Many even give extra dividends at the end of the year if they end up too far in the "black".  With local credit unions you generally qualify for membership with out paying any extra fees and usually just have to make a small deposit ($5 to $15) into a savings account.  

Third, try a national credit union that has a mechanism for nationwide membership.  You will have to join an association of some sort, but the extra $10 to $25 is usually worth the higher yield.  This can be done with credit unions like Pentagon Federal Credit Union, Alliant Federal Credit Union, and Delta Community Credit Union.

Finally, focus on 5-year to 10-year CDs with low early withdrawal penalties for good >IRA Rates.  Here are a couple of examples.  Pentagon has a very generous clause for IRAs.  As long as you leave the minimum in the account, you can withdraw funds with no penalty.  Delta has a 3-month penalty.  If you looked at your calculated yield after 1-year and figure in the penalty, your effective yield would be 2.23%, after 2-years it would be 2.59% and after 3-years it would be 2.71%.  Those are well above rates being offered on those respective terms.

Chris Duncan is a FINRA Registered Representative. He works for Jumbo CD Investments, Inc., a leading CD placement and research firm.  He specializes in helping clients find the  best CD rates nationwide. His clients include individuals, financial institutions, corporations, and public agencies.  Check out  MA CD Rates. 
IRA Rates

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