Salin Bank of Indiana offers a number of IRA CD accounts for consumers to choose from. Salin Bank offers certificates of deposit that can be held in traditional IRA accounts, Roth IRA accounts and Education IRA accounts. CD IRA accounts at Salin Bank can be opened at any of their 24 bank offices in Indiana.
There are two main types of IRA accounts, a traditional IRA and a Roth IRA. Either the Roth IRA or traditional IRA is simply a place to hold investments that offer a better tax treatment to encourage retirement investments. Salin Bank offers bank CDs that can be held in both forms of IRA accounts.
Consumers looking to invest in bank CDs for their IRA, should always shop and compare the best CD rates before handing over their funds to a specific bank or financial institution.
The Salin Bank Roth IRA CDs can be fixed rate and fixed term CDs or the Roth IRA CDs with the bank can be obtained with a variable interest rate. The variable rate bank Roth IRA CDs not only fluctuate with market rates but allow account holder to make ongoing additional contributions to the account, up to the IRS maximum allowable amount.
Current Roth IRA CD rates offered in Indiana by the bank include:
1 year fixed interest rate Roth IRA CD rate at 0.60%
3 year Roth IRA CD interest rate is 1.36%
5 year ROTH IRA CD rate is at 2.23%
18 month variable rate Roth IRA bank CD is currently yielding 0.85%. The interest rate is subject to change on the variable Roth IRA account.
The bank Roth IRA CD rates are current as of September 1, 2010 but are subject to change at any time. All bank Roth IRA CDs require bank approval and additional conditions may apply to open these accounts.
For current bank IRA CD rates and Roth IRA CD rates, a Salin Bank representative can be reached at 800-320-7536.