An IRA CD, or Individual Retirement Account Certificate of Deposit, is a special type of CD offered by banks and credit unions that allows customers to save for retirement. IRA CDs typically have higher interest rates than regular CDs, and the money deposited into an IRA CD can be used to fund a traditional or Roth IRA.
There are a few things to keep in mind when looking for an IRA CD. First, the account must be opened at a bank or credit union that offers IRA CDs. Second, the money deposited into an IRA CD must be used to …