I have some of my IRA in cash with my brokerage firm. Can I get a higher rate with an IRA CD at a bank without extending the maturity for more than a year? --B.P., Philadelphia
Not all online banks offer CDs for IRAs, but the ones that do tend to offer much better rates than cash reserves at brokerage firms -- more than 1% instead of 0.01%, says Greg McBride, of Bankrate.com.
Synchrony Bank tops the list for one-year IRA CDs, with a 1.10% annual percentage yield for $25,000 or more, or 1.05% for $2,000 to $25,000, says Ken Tumin, of DepositAccounts.com. Find rates at www.depositaccounts.com and www.bankrate.com.
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