Top 1 year IRA CD rates yielding 1.41% APY
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Looking for an FDIC insured investment to toss into your retirement account? If so, Melrose Credit Union out of New York has the industry’s highest yielding offer at 1.41% APY. However, to receive the advertised APY of 1.41% you’ll have to make a minimum deposit of $4000 AND open one of their EZ checking accounts while maintaining a monthly balance of $500 in that account. Their EZ checking account generates an annual percentage yield of 0.25% on all balances. To put their 1 year IRA CD offer in perspective, the average APY on traditional 1 year CDs sits at roughly 0.90%.
Below are Melrose Credit Union’s Complete IRA CD Offerings:
| Share** and IRA Certificates** | ||
| 1 Year |
1.40%
|
1.41%
|
| 2 Year |
1.65%
|
1.66%
|
| 3 Year |
2.15%
|
2.17%
|
| 4 Year |
2.40%
|
2.42%
|
| 5 Year |
2.90%
|
2.93%
|
Terms and Conditions:
- Dividends are earned when a minimum daily balance of $500.00 is maintained on the EZ Checking account.
- An early withdrawal penalty applies to all Share Certificate Accounts. All new share certificate purchases and renewals will compound dividends quarterly. The interest rate will be determined in the same manner as other share certificates, however due to the compounding there will be an APY on share certificates which is different than the rate. Please note that members will still have the option of having their quarterly dividend transferred to another share account. The minimum purchase for Share Certificates is $5,000. The minimum purchase for IRA Share Certificates is $4,000. Call or email the Credit Union for certificate disclosure and application. (Additional limitations and regulations apply to IRA accounts. Please contact a Member Service representative for further information and disclosures).
- All Member Accounts Insured To At Least $250,000 By NCUA.
