CD IRAs

Grow your money safely with a FDIC-insured CD IRA.footnote It offers predictable interest earnings, stable principal, and a choice of terms to fit your savings needs.footnote

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Perfect for

Those who prefer a safe, fixed return on their retirement accounts.

Benefits

  • A CD IRA combines the benefits of both an IRA account and a CD. Get the tax benefits of an IRA along with the earning power of a CD.
  • A variety of terms to suit your short- and long-term retirement savings needs
  • Balances in this account help you avoid monthly service charges for the MB Signature Checking account

Features

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Traditional IRA

Use a traditional IRA to save for retirement and your contributions may be tax deductible. Earnings on your funds grow tax-deferred and are taxed only when you make withdrawals.footnote

Roth IRA

Unlike a Traditional IRA, your contributions are not tax deductible. However, after you reach age 59 ½ and your account has been open for at least five years, your earnings and withdrawals are tax-free.footnote

SEP IRA

SEP IRAs provide a lower cost and simpler way to establish retirement plans for business owners or their employees. Employer contributions are tax deductible and earnings on employee and employer contributions are tax deferred.footnote

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Interest rates

Minimum $1,000 to open
Terms under three months, interest is paid at maturity.
Terms over three months, quarterly compounding; interest is paid quarterly.

Interest rates
  Balance under $100,000 Balance over $100,000
Term Interest rate APY* Interest rate APY*
7 day CD 0.050% 0.05% 0.050% 0.05%
14 day CD 0.050% 0.05% 0.050% 0.05%
1 month CD 0.050% 0.05% 0.050% 0.05%
3 months CD/IRA 0.050% 0.05% 0.050% 0.05%
6 months CD/IRA 0.100% 0.10% 0.100% 0.10%
9 months CD/IRA 0.150% 0.15% 0.150% 0.15%
12 months CD/IRA 0.150% 0.15% 0.150% 0.15%
18 months CD/IRA 0.200% 0.20% 0.200% 0.20%
24 months CD/IRA 0.300% 0.30% 0.300% 0.30%
30 months CD/IRA 0.350% 0.35% 0.350% 0.35%
36 months CD/IRA 0.399% 0.40% 0.399% 0.40%
48 months CD/IRA 0.599% 0.60% 0.599% 0.60%
60 months CD/IRA 0.847% 0.85% 0.847% 0.85%

* Annual Percentage Yields (APY) are current as of 04/18/2014

Interest for accounts with a term of less than 3 months will not compound and will credit at maturity. Interest for accounts with monthly interest distribution will not compound and will credit monthly. For all other accounts, interest is compounded and credited quarterly.

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What's next?

How to Apply Apply Now

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Apply in person

Stop by one of our convenient banking centers located throughout Chicagoland and we’ll be happy to help you open your new MB account.

What's next?

Visit a BranchQuestions?

Call us at 1.888.i bank mb (1.888.422.6562) or contact us.

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1 Contribution limits apply. Penalties apply for early withdrawal. Fees may reduce earnings. Please refer to the Personal Banking Customer Fee Schedule (PDF). Minimum $1,000 to open. Back to top

2 Your deposits are insured by the FDIC up to the maximum limits allowed by law, which is at least $250,000. You may also be eligible for additional insurance if your accounts are held in different categories of ownership. Back to top

3 Please consult with your tax, legal and accounting advisor for more information. Back to top