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Best IRA CD rates for July 2024

Best available rates across different account types for Sunday, July 21, 2024

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Current 1 year CD trends
Bankrate Partner average
4.83% APY
National average
1.81% APY

Bankrate’s picks for the top IRA CD rates

Note: Annual percentage yields (APYs) shown are as of July 8. Banks are listed in order of top APYs for one-year IRA CDs with a $25,000 balance. Some APYs may require higher balances than the minimum deposit.

Bankrate's editorial team validates this information regularly, typically biweekly. APYs may have changed since they were last updated and may vary by region for some products. Bankrate includes only Federal Deposit Insurance Corp. (FDIC) banks or National Credit Union Administration (NCUA) credit unions in its listings.

America First Credit Union: 4.20%-5.25% APY (3 months-5 years), $500 minimum deposit

America First Credit Union was founded in 1939. It has more than 1.3 million members.

In addition to IRA CDs, America First has checking accounts, savings accounts and different types of CDs.

Suncoast Credit Union: 3.85%-5.50% APY (6 months-5 years), $500 minimum deposit

Suncoast Credit Union offers both regular IRA CDs with a $500 minimum balance and jumbo IRA CDs that require at least $100,000. These jumbo IRA CDs may earn a higher yield than the regular IRA CDs at the Florida credit union. 

Delta Community Credit Union: 3.85%-4.95% APY (1 year-5 years), $1,000 minimum deposit

Delta Community Credit Union began as the Delta Employees Credit Union in 1940. It was started by eight Delta Air Lines employees. Today, the credit union has more than 500,000 members and 29 branches in metro Atlanta and three branches outside of Georgia.

Anyone living or working in metro Atlanta and employees of more than 150 businesses are welcome at Delta Community Credit Union. Delta Air Lines, Chick-fil-A and UPS are some of the eligible businesses.

Navy Federal Credit Union has 13 million members and is the world’s largest credit union. It has a global network of 355 branches. Navy Federal Credit Union has its main office in Vienna, Virginia.

In addition to CDs, Navy Federal Credit Union also offers checking and savings accounts, loans and credit cards. 

Synchrony Bank: 0.25%-4.90% APY (3 months-5 years), $0 minimum deposit

Synchrony Bank, formerly known as GE Capital Bank, is a subsidiary of Synchrony Financial. Synchrony Bank offers Roth IRA CDs and traditional IRA CDs.

Opening an IRA CD with Synchrony Bank can only be done over the phone, as Synchrony has no branches and doesn’t offer an online application. Its corporate headquarters are in Draper, Utah.

Randolph-Brooks Federal Credit Union: 3.31%-4.80% APY (6 months-7 years), $1,000 minimum deposit

Randolph-Brooks Federal Credit Union was established in 1952 and has its main office in Live Oak, Texas. It serves four major markets: Austin, Corpus Christi, Dallas-Fort Worth and San Antonio. The credit union has more than 1 million members.

In addition to its range of IRA certificates with terms from six months to seven years, Randolph-Brooks offers a Really Free Checking account that requires no minimum balance and charges no monthly fee.

Discover Bank: 2.00%-4.70% APY (3 months-10 years), $2,500 minimum deposit

Discover Bank eliminated fees on its deposit products in June 2019. Interest on Discover Bank CDs is compounded daily and credited monthly. Discover Bank provides a nine-day grace period after a CD matures before the CD automatically renews. Its headquarters are in Greenwood, Delaware.

Citibank: 0.05%-5.13% APY (3 months-5 years), $250 minimum deposit

Citibank is one of the largest banks in the U.S. It offers IRA CDs with terms ranging from three months to five years. It also has regular CDs, checking accounts and savings accounts. In certain areas, its high-yield savings account offers a competitive APY.

Ally Bank: 3.00%-4.85% APY (3 months-5 years), $0 minimum deposit

Ally Bank is an online-only bank that offers more CD options than most direct banks. Ally gives savers options with a High Yield CD and a Raise Your Rate CD. If you fund your IRA CD within 90 days, you’ll get its best rate for the term and balance on either the day you open or the day you fund the account. Ally Bank IRA CDs are available as a Traditional, Roth and Simplified Employee Pension (SEP) IRA.

What is an IRA CD?

An IRA CD is an individual retirement account where your money is in a certificate of deposit for a set term. CD terms usually range from three months to 10 years.

Typically, your options are a traditional IRA or Roth IRA. The tax advantages for each are different. Bankrate’s IRA calculator can help you compute and compare potential earnings for both types.

You may want to consider getting an IRA CD if you’re looking for a guaranteed return to boost your retirement savings while also enjoying tax advantages. IRAs are subject to contribution limits, and not all contributions are eligible for tax savings. Check with your tax advisor if you have questions.

Of course, CDs aren’t the only investment option for those looking to put their money into an IRA. Stocks, bonds, mutual funds and money market funds are also popular options.

Pros and cons of investing in an IRA CD

Before opening an IRA CD, weigh the pros and cons to see if it’s the right product for you.


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    A guaranteed return on your investment (as long as you don’t withdraw from your CD before it matures).

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    Your money is insured up to $250,000 as long as it is held at an FDIC-insured bank or an NCUA credit union.

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    You won’t have to worry about fees unless you’re penalized for tapping into your account before it matures.


  • If you’re younger, you may want to invest in something with the potential for a higher return.

  • The rate you earn may not keep up with inflation.


Research methodology

At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Our editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.

Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks.

To find the best CDs, our editorial team analyzes various factors, such as: APY, the minimum deposit needed to earn that APY (or to open the CD) and whether it is broadly available. All of the accounts on this page are insured by the FDIC or the National Credit Union Administration (NCUA).

When selecting the best CD for you, consider the purpose of the money and when you’ll need access to these funds to help you avoid early withdrawal penalties.