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IRA Savings Accounts

IRA savings accounts provide a means of saving for retirement without having funds locked up for a set amount of time. Use the filter box below to customize your results.

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Deposit Amount | $1 $100,000
Currently Including:
47
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Results

Connexus Credit UnionIRA Supreme Account w/Active Checking14 Reviews1.50%$10k-$375
DETAILS
CIT BankIRA Savings Account47 Reviews0.95%$25k-$238
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Ally BankIRA Online Savings Account111 Reviews0.87%--$217
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Cattaraugus County BankIndividual Retirement Account0.75%$100-$188
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Capital One 360IRA Savings12 Reviews0.75%--$188
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Capital Educators Federal Credit UnionIRA Savings (59 1/2) Traditional0.75%--$188
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Communitywide Credit UnionI.R.A.Savings0.70%$2k-$175
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Alliant Credit UnionIRA Savings13 Reviews0.70%--$175
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Patelco Credit UnionTreasury IRA5 Reviews0.65%$25k-$163
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North Country Savings BankIRA Advantage2 Reviews0.60%$25k-$150
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Lake Michigan Credit UnionRoth IRA Shares35 Reviews0.60%--$150
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Self-Help Credit UnionIRA Savings3 Reviews0.55%--$138
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Melrose Credit UnionIRA Share Account15 Reviews0.50%--$125
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Northwest Federal Credit UnionShare IRA9 Reviews0.50%--$125
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Pen Air Credit UnionIRA Savings2 Reviews0.34%$25k-$85.00
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Andrews Federal Credit UnionIRA Savings9 Reviews0.31%$100-$77.50
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Quorum Federal Credit UnionIRA Savings0.30%$25k-$75.00
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Sandia Laboratory Credit UnionIRA Share Savings0.30%$10k-$75.00
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America's Credit Union Roth IRA Savings0.30%$50-$75.00
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Principal BankHigh Yield IRA0.25%--$62.50
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First Technology Federal Credit UnionInstant Access IRA10 Reviews0.25%$25k-$62.50
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Northrop Grumman Federal Credit UnionIRA Accumulation0.25%$100-$62.50
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Xceed Financial Credit UnionIRA Savings9 Reviews0.25%--$62.50
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Consumers Credit Union (IL)IRA Savings31 Reviews0.25%--$62.50
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Apple Federal Credit UnionIRA Share17 Reviews0.25%$20k-$62.50
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Credit Union Of New JerseyIRA Share1 Review0.25%$200-$62.50
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Justice Federal Credit UnionIRA Share4 Reviews0.25%--$62.50
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Air Force Federal Credit UnionIRA Shares0.25%--$62.50
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Fort Knox Federal Credit UnionRoth IRA12 Reviews0.25%$25k-$62.50
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University Federal Credit UnionVariable Rate IRA3 Reviews0.25%$100-$62.50
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Astera Credit UnionIRA Account2 Reviews0.20%--$50.00
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Digital Credit UnionIRA Savings Account8 Reviews0.20%--$50.00
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Third Federal Savings and Loan (OH)Retirement High Yield Savings2 Reviews0.20%$25k-$50.00
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NASA Federal Credit UnionIRA Savings2 Reviews0.15%--$37.50
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20Th Century Fox Credit UnionIRA Savings2 Reviews0.15%$25k-$37.50
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Union Bank (San Francisco, CA)Retirement Income IRA20 Reviews0.15%$25k-$37.50
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Affinity Credit UnionIRA Accumulator5 Reviews0.10%$50-$25.00
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First National Bank (LA)IRA Savings3 Reviews0.10%--$25.00
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McGraw Hill Credit UnionIRA Savings0.10%--$25.00
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American BankIRA Statement Savings3 Reviews0.10%--$25.00
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Displaying 1-40 of 47 Results



IRA Savings Accounts Trend

IRA Savings Accounts

What is an IRA?

One way to explain an IRA Savings Account is that it is a tax-deferred retirement investment vehicles that grow savings over time while keeping deposited funds fairly liquid and free. Banks and credit unions usually offer interest rates on these accounts that are very comparable to the rates offered on their savings accounts – some of which are high yield rates. The most common types of IRAs are the Traditional IRA and the Roth IRA, as you can see in the rate table above. When you decide to open an account, at most financial institutions you will have to select either the Traditional or Roth option.

The Traditional IRA

Traditional IRAs protect your earnings (called dividends by most credit unions) from taxes until they are withdrawn, as opposed to earnings from a non-IRA savings account that you must report to the IRS on a 1099-INT. Contributions up to a certain limit, which differs from year to year, are tax deductible in a Traditional IRA for the year in which they are made.

The Roth IRA

Roth IRA contributions cannot be deducted, on the other hand. Withdrawals (or distributions) are what give the Roth an advantage, though, as you can take a tax-free distribution for any reason after 5 years from the date of your first contribution. There are even several exceptions to the 5-year period that allow for tax-free distributions, including reaching the age of 59½, becoming disabled, or making a first-time home purchase. Unlike the Traditional IRA, the Roth version does not require distributions based on age. The Roth IRA is probably most similar to a standard savings account after 5 years, as you are able to deposit and withdraw in a similar fashion (usually 6 withdrawals a month).

Within those IRA options, banks and credit unions sometimes offer various features when it comes to the interest rate attached to the account, such as variable, fixed, and step-up rate features. Most interest rates are calculated daily and paid monthly.

An IRA Savings Account could be useful if you are moving earnings out of another IRA investment, such as an IRA CD. By moving earnings from an IRA CD that has reached maturity into an IRA Savings Account, you can avoid paying taxes on earnings. If and when you decide to open an IRA Savings Account, make sure there are no fees associated with account management. Also, remember to assign a beneficiary to the account.