When a person talks about IRA rates and finding the best Roth IRA rates, it is easily to get confused what they are talking about. So what exactly are IRA rates? Well, IRA rates pertain to the rate 0of returns that you will receive from the different types of investment options that your IRA account holds. There is no single IRA rate that pertains to all investment.
Usually these rates vary depending on the type of your investment and are influenced by a lot of factors. In stocks and mutual funds, the IRA rates pertain to the gains that you will receive for every trade that you make. It is affected by commissions, sales charges, managerial fees and a lot more. So you cannot really have a fixed rate for these types of investments. If you want to have a fixed IRA rate then you would probably want to invest in CDs. CDs will give you fixed IRA interest rates depending on the type of CD that you chose. There are regular CDs and Jumbo CDs. Usually jumbo CDs are considered high yielding CDs that will be able to give you high IRA interest rates. However, these CDs will usually require you to make a larger minimum deposit.
To make sure that you get a high IRA interest rate for your CDs, it is a must that you go about different financial institutions or gather information using the Internet regarding the rate, terms, and minimum deposits of one financial institution to the other. You may also want to check if the bank or credit union offers CDs that are insured by NCUA or FDIC. You can easily obtain this information by going into the different website of these financial institutions. It would be great if you can make a list that will reflect all the information that you have gathered.