If you’re considering opening an IRA CD account, Discover bank is offering up to 2.20% APY if you open a new account with them. This much higher any other competitors savings account I have ever seen. This is a great account to open if you’re using it for retirement. You can choose IRA terms as low as 3 months, for a lower APY rate, or 10 years for the maximum bonus. They provide great service and 24/7 phone service. Find all the best Discover Bank Deals!
If you’re looking for a long-term growth and looking to save money for retirement, you should consider investing in opening one of these accounts. Discover offers other great programs such as an excellent cash back card. There’s two different accounts, Roth and Traditional, which both comes with different benefits. Discover Bank Certificate of Deposit rate changes accordingly to how long you keep it there.
Discover Bank IRA CD Overview:
Opening a new account is simple because it’s just filling out basic information! If you apply online, just click on open an account, and fill out the information required. Applying by phone is easier because you have an associate talking you through everything. You do have to have the starting amount of $2,500. If you don’t know what account is better for you, Roth or Traditional, here’s how you can tell which is better.
There are two different IRA CD to choose from, Roth and Traditional.
Advantages for Roth
- Pay Now Save Later: Funded with after-tax dollars, Earnings and withdrawals are tax-free, Contributions are not tax deductible
- Get Taxes Out of the Way: If you expect tax rates to be higher when you begin making withdrawals, this is your account
- Eligibility: Taxable earned income within IRS Limits; Limits are based on income and tax filing status.
- Withdrawals: Anytime you wish. Contributions can be withdrawn without IRS penalty at any time. Earnings can be withdrawn without penalty at age 59½ if your account is at least 5 years old.
Advantages for Traditional
- Earn Now, Pay Later: Funded with pre-tax dollars. Earnings are tax-deferred.Tax-deductible up to certain income limit
- Wait to Pay Taxes Later: If you expect to have a lower tax rate when making withdrawals, open this account.
- Eligibility: Anyone under 70½ with taxable earned income
- Withdrawals: Contributions and earnings can be withdrawn without IRS penalty at 59½. Distributions are required by age 70½.
It’s smart to open a retirement savings, because nobody wants to work hard when they’re older. This is great for people with higher net worth or low income in retirement. If that sounds like you that you should open a account and start saving now! If not, then don’t forget to check out full list of Broker Bonuses!
|Synchrony Bank's High Yield Savings : Earn 1.05% APY for all balances with interest rate compounded daily for one of the best savings accounts on the internet! With the High Yield Savings account, there is no monthly fee as long as you keep a $30 minimum balance. Withdrawing money is simple whether you are doing it online, over the phone or with an optional ATM card. You can make six withdrawals per monthly statement cycle with your High Yield Savings account. Enjoy up to $250,000 of FDIC insurance per depositor, per insured bank, for each ownership category. Apply Now---Synchrony Bank High Yield Savings Review|
|Discover Bank's Online Savings Account is offering $100 Bonus along with 0.95% APY - one of the highest rates online! To earn the $100 bonus, you must apply through HustlerMoneyBlog.com with promo code HMB1016 by 01/31/2017 and make a minimum deposit of $15,000 by 02/15/2017. As with any online bank, Discover is able to avoid overhead costs of a physical branch, thus saving money and offering you a higher savings rate. Your money FDIC-insured up to $250K and you'll earn over 5X the National Savings Average with a low $500 minimum opening deposit, no minimum balance or monthly maintenance fees! Apply Now---Discover Bank Online Savings Review|
|CIT Bank – Enjoy an amazing rate of 1.05% APY plus earn up to $200 Cash Bonus when you open a new High Yield Savings Account at CIT Bank by January 31, 2017. To earn a $95 bonus, you must make an initial deposit of $25,000 or more and maintain an average monthly balance of $25,000 for 3 monthly statement cycles. Deposit $100,000 and maintain that for 3 monthly statement cycles and you’ll receive a $200 bonus. Apply Now---CIT Bank Review|