Get stability and tax benefits with an IRA CD.

An IRA CD is a retirement savings account that combines the tax advantages3 of an Individual Retirement Account (IRA) with the fixed returns of a certificate of deposit (CD). Whether you're planning ahead or simply want peace of mind, an IRA CD can help you build your future with confidence. This account can be a great option if you're nearing retirement and want to protect your savings from market volatility while still earning steady interest.

What is an ​Individual Retirement Account

Why choose an IRA CD?

Discover the benefits of opening an IRA CD with Popular Bank.

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$500 minimum to open

Get started with a minimum opening deposit of $500.

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Flexible terms

Pick the term that fits your retirement timeline, with options from 3 months to 10 years.4

Predictable growth

Lock in a fixed rate for a set term, so you know exactly how much your savings will grow.

FDIC insured

Your funds are FDIC-insured up to the maximum allowed by the law.5

Tax advantages

Choose from a Traditional or Roth IRA to enjoy potential tax-deferred or tax-free growth.

Automatic renewal

Automatically renews for the same term unless you choose a different term at renewal.

Competitive rates

Earn higher interest rates for higher account balances.

Interest compounded daily

See your interest credited to your account quarterly and at maturity.

Looking for a more flexible way to grow your retirement savings?


Our  Anytime IRA CD℠ makes it easy for you to begin saving for your retirement. This 18-month IRA CD gives you the flexibility to keep contributing during the term—without needing a large upfront deposit.

  • Open with as little as $100
  • Available only for an 18-month term
  • Make additional deposits of $100 or more during the term (up to the maximum annual contribution permitted)
  • Choose between a Traditional or Roth IRA
  • Benefit from a fixed rate for the full term
What types of retirement accounts are available
 

Explore the differences between Traditional and Roth IRA CDs.

Factors to consider Traditional IRA Roth IRA
Who is this account best for? Individuals who might expect their income (and taxes) to be the same or lower in retirement3 Individuals who might expect their income (and taxes) to be higher in retirement3
What is the tax treatment? Contribute pre-tax income and grow your savings tax-deferred6 Contribute after-tax income and enjoy tax-free withdrawals in retirement7
Are contributions tax-deductible? Yes, you may be able to deduct your contribution from your taxable income this year No, you won't get a tax break this year, but qualified withdrawals later will be tax-free
Who is eligible to contribute? You can make contributions if you have received taxable income during the year You can contribute if you have received taxable income during the year and your modified adjusted gross income is below IRS limits
Is there an IRS penalty for early withdrawal? Yes. If you are under age 59 ½, you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception
Are required minimum distributions (RMDs) necessary? Yes, starting at age 73 No

Visit a branch to open an account today.

There's no better time to rethink the way you save.

New York

Stop by your nearest branch to apply for an IRA CD account in New York.

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New Jersey

Stop by your nearest branch to apply for an IRA CD account in New Jersey.

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South Florida

Stop by your nearest branch to apply for an IRA CD account in South Florida.

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How an IRA CD can work for you.

Explore how an IRA CD can support your retirement goals at every stage of your journey.

Plan for a comfortable retirement

Build long-term financial security with an IRA CD that offers stable, guaranteed growth.

Rollover retirement funds

Consolidate your retirement savings by rolling over your existing IRA or 401(k) funds into an IRA CD.

Transition to retirement

Ease into retirement with peace of mind by choosing a steady, interest-bearing IRA CD.

Supplement other retirement savings

Add an IRA CD as a conservative, low-risk option to round out your retirement strategy.

Frequently asked questions about IRA CDs.

  • An IRA CD is an Individual Retirement Account (IRA) that is funded with certificates of deposit (CDs). This low-risk retirement savings option combines the tax advantages of an IRA with the fixed returns and predictability of a CD. An IRA CD is available as either a Traditional or Roth IRA, giving you options based on your retirement goals and tax preferences. IRA CDs are commonly used by individuals nearing retirement who want stable, FDIC-insured growth without exposure to market risk. IRA CDs are available at Popular Bank branches in New York, New Jersey, and South Florida.

  • An Anytime IRA CD℠ is an 18-month IRA CD available at Popular Bank that allows you to keep contributing during its term. You can open one with as little as $100 and then make additional deposits of $100 or more during the term (up to the maximum annual contribution permitted). An Anytime IRA CD℠ is available as either a Traditional or Roth IRA, giving you options based on your retirement goals and tax preferences.

  • The minimum opening deposit required for an IRA CD account is $500. The minimum deposit required for an Anytime IRA CD℠ is $100.

  • We offer a variety of term lengths from 3 months to 10 years. The Anytime IRA CD℠ is only available for an 18-month term.

  • No. You cannot add additional funds to your IRA CD during the term of the account. Additional deposits may be made at maturity or during the 10-calendar-day grace period after the maturity date. Only our Anytime IRA CD℠ allows additional deposits during the term of $100 or more, up to the maximum annual contribution permitted.

  • Yes. If you are under age 59 ½, you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception. Source: Irs.gov

  • Yes, you can roll over an existing IRA into an IRA CD. You must complete the rollover within 60 days of receiving the funds to avoid taxes and penalties. You generally cannot make more than one rollover from the same IRA within a 1-year period. Please note that a rollover is a reportable transaction to the IRS.

  • A Traditional IRA is a type of retirement account available to anyone with earned income. Contributions are made with pre-tax dollars, meaning the money hasn’t yet been taxed.

    One of the key benefits of a Traditional IRA is tax-deferred growth, enabling you to maximize the full dollar amount of your contributions.3 When you withdraw funds in retirement, you’ll be taxed based on the tax bracket you qualify for at that time. Additionally, required minimum distributions (RMDs) must start at age 73.6

  • A Roth IRA is a type of retirement account that allows you to contribute after-tax dollars, meaning you’ve already paid taxes on the money you deposit. This means that qualified withdrawals (including earnings) are tax-free in retirement. 

    If you take money out before age 59½, you may face a 10% early withdrawal penalty from the IRS. In addition, Roth IRAs require that you wait five years from the time you first contributed to a Roth IRA account to withdraw the interest earned tax free.7

  • Yes, your deposits are insured up to $250,000 per depositor. You may qualify for more than $250,000 in coverage if you hold deposits in different account ownership categories. For more information, please refer to FDIC.gov.

Retirement planning made easy for you.

If you need a little more help planning for your retirement, we’ve got you. At Popular Investments®, our financial consultants8 will take the time to talk with you and make recommendations based on your goals.

Learn more

Ready to get serious about your retirement?

Stop by your nearest branch to start your IRA CD application today.

Get started

1Certain restrictions and conditions apply. Not all tax advantages may be available to you. The above is general information regarding IRAs. Specific questions on taxes, contributions, deductible qualifications and withdrawal rules, as they relate to your individual retirement accounts, should be reviewed with your professional tax advisor.

2Fees may reduce earnings on the account.

3You may be able to take advantage of certain tax savings. We do not make any representations or warranties as to a consumer’s ability to save on taxes with these products. Every individual’s tax and financial circumstances may differ. Please consult a Tax or Financial advisor to discuss individual needs and determine the appropriate product. Investing involves risk, including risk of loss. Popular Bank and its affiliates and subsidiaries do not provide tax, legal, or accounting advice. The information herein is general and educational in nature, and should not be considered as or relied on for legal, accounting, or tax advice as it is for informational purposes only. Each person’s situation is unique and may materially differ from the information provided herein. Tax laws and regulations are complex and subject to change, which can materially affect financial results. Popular Bank cannot guarantee that the information herein is accurate, complete, or timely. The views/information expressed are as of the date indicated and may change depending on market or other conditions. Consult with an attorney, accountant, or tax professional regarding your specific situation before engaging in any transaction. Popular Bank does not make any representations or warranties as to the content contained herein, or results obtained by its use, and disclaims any and all liability arising out of or resulting from any use of or reliance on such content.

4Penalties apply for early withdrawal from IRA CD accounts. Bank penalties do not apply if the account holder is aged 73 or older and making required minimum distributions from a Traditional IRA.

5Popular Bank is a Member FDIC institution. Your deposits are insured up to $250,000 per depositor. You may qualify for more than $250,000 in coverage if you hold deposits in different account ownership categories. For more information, please refer to: FDIC.gov.

6Any deductible contributions and earnings you withdraw or that are distributed from your traditional IRA are taxable. Traditional IRA qualified withdrawals may begin at age 59 1/2 (earlier for qualified circumstances), but by law they must begin by age 73. Qualified withdrawals are subject to taxation but are free of IRS penalties. If you are under age 59 ½ you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception. Source: Irs.gov Irs.gov .

7Earnings and qualified distributions are tax free as long as it has been 5 years since the tax year for which your first regular contribution or first conversion into a Roth IRA was made. Also, if you are under age 59 ½ you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception. Source: Irs.gov Irs.gov .

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All Popular Investments® Financial Consultants are registered representatives of Osaic Institutions.