iGObanking is offering a competitive 60 Month IRA CD that pays 4% APY. This is one of the highest IRA CD rates I could find for that term and it is comeptitive with the best 60 month non-IRA CD rates. The account can be opened as either a traditional IRA or as a Roth IRA. On the IGObanking website is an application which can be filled in and mailed back to the company. With the application you would include a check with the amount you would like to deposit along with two forms of identification. You're also required to include a utility bill telephone bill as proof of residence. This differs from the all-electronic process for opening traditional accounts.

IRA Certificates of Deposit (CD)

For those unfamiliar with IRAs, the abbreviation stands for Individual Retirement Account. IRAs are a retirement vehicle that provide a more tax efficient way to save for retirement. In general, traditional IRAs are tax deferred, meaning you do not pay taxes on the money you put into the IRA until you withdraw it. The idea is that by the time you are ready to retire, you will be in a lower tax bracket, and thus pay lower taxes.

With a Roth IRA, any money you put in is post-taxes, meaning you have already paid taxes on it but the money can grow within the Roth IRA tax free. When you remove the money, you will not have to pay any additional taxes.

With both traditional and Roth IRAs you will pay a penalty if you withdraw the money before retirement.

A CD IRA is simply a Certificate of Deposit that exists within this IRA vehicle.

iGObanking

iGObanking.com is a division of Flushing Savings Bank, FSB and has a 4 out of 5 star (Good) Bauer rating for safety and soundness.

Compare the best IRA CD rates here.

Discover Bank is offering $50 for opening a new CD account online. Between now and February 28, 2009, open a new CD account at DiscoverBank.com with a minimum of $10,000 and Discover Bank will credit your account with $50.

You must enter Offer Code D100739 on the online form in order to qualify (the above link will automatically fill it in for you). You are welcome to share this code with friends but they’ll need to either come to this site and click the link or enter the offer code on the application form in order to get the free $50.

The offer is good through February 28, 2009. To earn the cash offer, a minimum deposit of $10,000 in new funds must be received by March 15, 2009 and those funds must remain on deposit for at least 90 days. The cash offer will be credited to your Discover Bank account 4 to 6 weeks after the 90-day period. Offer limited to one per customer and not applicable for accounts opened via phone or mail.

Discover currently has the second best rate on online 24-month (two-year) CDs and 36-month (three-year) CDs, and is competitive across all other terms

One Georgia Bank, located in Atlanta GA is offering a 7-Month CD at 3% APY to customers who deposit a minimum of $5,000 in the CD and who also have a personal interest checking account. The account must also be opened in the branch and is available to depositors who live in the metro-Atlanta market.

For those that live in Atlanta, the CD is very competitive. The top nationally offered online 6-month CD rate is 2.50% APY and the best online 12-month CD rate is 2.95% APY according to the BestCashCow rate tables. You may find better rates in your market by checking banks here or credit unions here.

One Georgia Bank is a relatively new bank, having been established on May 5, 2006. The bank operates one branch in the heart of downtown Atlanta. It is FDIC insured. It's Bauer Rating for safety and soundness is 3 out of 5 stars (Good).