2.50% 15-Month IRA CD at Dime Savings Bank - Available Nationwide

Dime Savings Bank is offering a special 15-month IRA CD with a 2.50% APY. Minimum deposit is $500, and the maximum is $250,000. New money is required. The special is listed at this Dime promotions page as of 3/12/2010.

In the small print of the promotion, it states:

Additional deposits have the same maturity date as the initial deposit and become part of the principal. Additional deposits are also subject to IRS contribution limits.

So it appears add-on deposits are allowed. The Dime IRA CD special that I reported on last November also had this add-on deposit feature. This feature is not as beneficial for IRA CDs as it is for a regular CDs due to the IRS contribution limits.

Dime Savings continues to offer fairly competitive long-term regular CD rates. These include a 2.75% APY 4-year CD and a 3.25% APY 5-year CD. These rates are listed at the rates page as of 3/12/2010. I have more details about Dime Savings' CDs in this previous post.

When I last checked with a Dime CSR last November, the IRA CD was able to be opened without a branch visit. If you call (800.321.3463), they should be able to mail you the application documentation. You can also open the IRA CD at a branch. Dime Savings' branches are located throughout the Greater New York metro area.

Dime Savings Bank has some solid financial ratings for soundness: 4 stars (excellent) at BauerFinancial (based on 12/31/09 data) and 4 stars (sound) at Bankrate.com (based on 9/30/09 data). The bank has been a FDIC member since 1943 (FDIC Certificate # 16012).

Credit for this find goes to this BestCashCow post.

Best IRA Rates

For other IRA CD rates and terms that are available locally and nationwide, please refer to the IRA rates section of DepositAccounts.com.