If you want to open a cd within an ira at a bank but the bank requires a minimum deposit of 10 000 in its cds you are out of luck. While jumbo cds require a minimum deposit of 100 000 many banks will let you open a regular cd with no minimum or maximum amount.
Jumbo versus regular cds there are 12 different types of cds in which you can put your money.
How much money to put in a cd. Input term length and rate apy to see total interest earned. Some cds require a minimum deposit of 100 000 but these accounts are not for everyone. But whether it s a good idea to keep that much cash in a cd depends on your financial situation.
For example in 2013 you can t invest more than 5 500 in an ira for the year or 6 500 if you are 50 or older. Most banks and credit unions offer cds but their requirements are often very different. Use this cd calculator to see the best guaranteed return on your money.
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