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Alabama Credit Union IRA CD Rates 2020

If you have your savings dollars in a big bank or a bank with low savings rates, then you are losing money. We've found FDIC insured banks that will pay you more. Take a few minutes to explore the options below and see how you can boost your savings by more than 6X the national average rate. There is competition for your money. Take advantage of it!

AL - June 5, 2020

Advertiser Disclosure
Credit Unions APY Months MIN Miles?
2.00% - $500 -
1.76% 12 $500 -
Pen Air
Restrictions
1.70% - $500 -
Honda
Restrictions
1.61% - $500 -
1.55% - $500 -
Alabama
Restrictions
1.51% 18 $500 -
Acipco
Restrictions
1.51% - $1,000 -
1.50% - $500 -
1.50% - $1,000 -
All In
Restrictions
1.41% - $1,000 -
Jm Associates
Restrictions
1.36% - $1,000 -
Fort Mcclellan
Restrictions
1.33% 30 $1,000 -
Riverfall
Restrictions
1.31% - $500 -
Alabama One
Restrictions
1.31% - $1,000 -
Platinum
Restrictions
1.26% - $1,000 -
Alabama
Restrictions
1.26% - $500 -
Coosa Pines
Restrictions
1.25% - $500 -
Avadian
Restrictions
1.15% 12 $1,000 -
1.06% - $500 -
Fort Mcclellan
Restrictions
1.05% - $1,000 -
Alabama Teachers
Restrictions
1.01% - $1,000 -
Hope
Restrictions
1.01% - $500 -
Max
Restrictions
1.01% - $500 -
Five Star
Restrictions
1.01% - $500 -
1.01% - $500 -
Social Security
Restrictions
1.00% - $1,000 -
Navigator Cu
Restrictions
1.00% - $1,000 -
Service 1
Restrictions
1.00% - $500 -
Family Savings
Restrictions
1.00% - $500 -
America's First
Restrictions
1.00% - $500 -
Mutual Savings
Restrictions
1.00% - $1,000 -
Guardian
Restrictions
1.00% - $500 -
Avadian
Restrictions
1.00% - $1,000 -
Fort Mcclellan
Restrictions
0.99% 12 $1,000 -
Dch
Restrictions
0.95% - $500 -
0.95% - $100 -
Alatrust
Restrictions
0.95% - $1,000 -
Mtc
Restrictions
0.95% - $250 -
Singing River
Restrictions
0.95% - $1,000 -
Winsouth
Restrictions
0.90% - $1,000 -
Eco
Restrictions
0.90% - $500 -
Legacy Community
Restrictions
0.85% - $500 -
Kinetic
Restrictions
0.85% - $500 -
0.80% - $500 -
Heritage South
Restrictions
0.75% - $1,000 -
Florence
Restrictions
0.75% - $500 -
Tyndall
Restrictions
0.65% - $1,000 -
0.60% - $500 -
Family Security
Restrictions
0.55% - $1,000 -
New Horizons
Restrictions
0.50% - $500 -
Aod
Restrictions
0.50% - $2,000 -
0.50% - $500 -
0.50% - $500 -
0.50% - $1,000 -
Listerhill
Restrictions
0.45% - $500 -
0.40% - $500 -
Valley
Restrictions
0.40% - $500 -
Four Seasons
Restrictions
0.35% - $10,000 -
0.30% - $1,000 -
Alabama Central
Restrictions
0.25% - $500 -
Redstone
Restrictions
0.15% - $5 -
All rates listed are Annual Percentage Yield (APY). The APY rate in a savings account or money market account is a variable rate that is subject to change at any point. The Min listed is the minimum deposit account balance required to obtain the rate listed.


BestCashCow strives to maintain the most accurate rates. If you believe a rate is not accurate, please let us know.

PRODUCT INFORMATION


Fixed Rate IRA CDs

Fixed Rate IRA CDs are CDs that are held within an Individual Retirement Account (IRA) or a Roth Retirement Account. In an IRA, the funds are deposited pre-tax and allowed to accumulate tax free. When the individual retires, they are withdrawn and all earnings are taxed at the prevailing tax rate. Because individuals generally have lower incomes upon retirement, the tax rate is lower than what it would have been during their working years.

With a Roth IRA, post-tax funds are deposited into the account and the money is allowed to accumulate and be withdrawn tax free.

If the funds are withdrawn before retirement age 59 1/2, the individual will be required to pay a 10% penalty on top of any taxes owed. There are some exceptions to this rule. Fund can be withdrawn penalty free if they are used to pay for education at an IRA qualifying institution or in the purchase of a house.

Advantages to a FIRA

  • Money grows in a tax-advantaged way.
  • Funds are FDIC insured, just like a regular CD.
  • Interest rates on FIRAs are often higher than the same terms for a CD.
  • Some flexibility in withdrawing the money early for first time homebuyers and education expenses.

Disadvantages to a FIRA

  • Returns may not be as high as stocks, bonds, mutual funds.
  • Funds cannot be withdrawn until 59 1/2 without penalty (except for IRS approved expenses).
  • If interest rates rise during the term of the FIRA, money will be stuck in lower yielding account.

Please click here for more information on fixed rate IRA CDs.

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