Secure Tomorrow with an IRA Account Today.

Focus on your future now with our IRA CD Account. Enjoy peace of mind and tax-deferred growth at a fixed rate while you build the retirement you've always envisioned.

Guaranteed Interest

Enjoy a fixed interest rate for your selected term, with interest paid monthly.

Tax Deferred Savings

Watch your CD grow with interest, without being taxed until you retire and withdraw.

$1,000 to Open

Open your CD with only $1,000, for any of our term lengths.

Open now

Current IRA Rates and Terms

Available as a Traditional IRA or Roth IRA.

12-Month CD
2.01% APY1

$1,000 minimum to open

24-Month CD
2.25% APY1

$1,000 minimum to open

36-Month CD
2.75% APY1

$1,000 minimum to open

60-Month CD
3.01% APY1

$1,000 minimum to open

Find a Location

Access & Assurance

Online & Mobile Banking

  • Access and view funds easily using the BayFirst Mobile Banking App or online banking portal
  • Free credit score monitoring

Other Benefits

  • Up to $250,000 insured by the FDIC
  • Free eStatements
  • Customer support through the BayFirst Call Center

Ready to Open Your Account?

  1. Gather Your Required Documents

    We'll just need a government-issued photo ID, your Social Security Number, and proof of address if it's different from your ID. Be sure to also have your beneficiary information and employment details available to streamline the account opening process.

  2. Find Your Nearest BayFirst Location

    We have 12 convenient banking centers located across the Tampa Bay region, including locations within Pinellas, Hillsborough, and Sarasota Counties.

  3. Open Your Account

    Bring your documents and funds to any banking center and we'll get your account set up in minutes.

Find A Location

Still Have Questions?

IRA CD FAQ

An IRA CD is a Certificate of Deposit held within an Individual Retirement Account, offering a fixed interest rate for a specified term. It combines the tax advantages of an IRA with the guaranteed returns of a CD, making it a secure option for retirement savings.

IRA CDs offer guaranteed, fixed interest rates, tax-deferred growth, and protection of your principal investment. This makes them a low-risk option for individuals looking to preserve capital while earning steady returns.

With a Roth IRA, contributions are made with after-tax dollars and qualified withdrawals are tax-free.  There are no required minimum distributions (RMDs) during your lifetime and income limits apply for contributions.

Contributions to a Traditional IRA may be tax-deductible (depending on income and other factors), and withdrawals are taxed as ordinary income. RMDs start at age 73, and there are no income limits for contributions, but deduction limits may apply.

Ask a BayFirst banker which option is best for you.

No, once an IRA CD is opened, you cannot make additional contributions until the CD matures. However, you can open a new IRA CD or contribute to a different IRA account.

Upon maturity, you can either withdraw your funds, roll them over into another IRA CD, or transfer them into a different retirement account. If no action is taken, the CD may automatically renew for the same term at the current interest rate.

Yes, early withdrawals from an IRA CD typically incur a penalty, which may include both the loss of accrued interest and a fee. Additionally, early withdrawals before age 59½ may be subject to IRS penalties.

Yes, you can transfer an existing IRA from another financial institution into a BayFirst IRA CD. You'll need to complete a transfer request form to start the process, and our team will assist you from there.
1 Advertised Annual Percentage Yield (APY) may change after maturity, applies to personal accounts only, and are accurate as of 7/18/2024. Minimum deposit of $1,000. A penalty may be charged for early withdrawal. Fees could reduce earnings.