Compare IRAs

Find the best IRA plan with the right features for your retirement. Before you decide on the plan for you, it's always best to consult with your tax professional. The IRA comparison information we're providing is not tax advice.

Consider if

You're interested in both tax-free growth and withdrawals. Roth IRA contributions are not tax-deductible.

You prefer your money to grow tax-deferred until you withdraw it in retirement. In many cases, your contributions are tax-deductible in the year they are made.

  • You're a business owner or self-employed
  • You're an employee of a business with a SEP IRA
Contribution Eligibility

Any age with taxable compensation

Anyone under age 70½ with taxable compensation
Anyone whose employer invites them to participate in a SEP. Please note that employees cannot make personal contributions to a SEP IRA.
Maximum Contribution Limits
Contribution Limits for 2014:
  • $5,500 if under age 50
  • $6,500 if age 50 or older

These contribution limits apply to Single filers with income of less than $114,000 or less Joint filers with income of less than $181,000.

Contribution limits for 2013 and 2014 begin to decrease when income exceeds these amounts.

Contribution Limits for 2014:
  • $5,500 if under age 50
  • $6,500 if age 50 or older

Income levels do not affect contribution limits for Traditional IRAs; however, your income may affect the amount you can deduct.

Contribution Limits for 2014:
  • Employer contributions that are lesser of 25% of employee's compensation, or $52,000
  • For self-employed individuals the limit is generally 20% of net earnings
  • Contribution limits for 2013

    Contribution Limits for 2013:
    • $5,500 if under age 50
    • $6,500 if age 50 or older

    These contribution limits apply to Single filers with income of $110,000 or less or Joint filers with income of $173,000 or less.

    Contribution Limits for 2013:
    • $5,500 if under age 50
    • $6,500 if age 50 or older
    Contribution Limits for 2013:
    • Employer contributions that are lesser of 25% of employee's compensation, or $51,000
    • For self-employed individuals the limit is generally 20% of net earnings
Tax deductions

Contributions are not deductible

Depends on:

  • Your earnings
  • Whether you participate in an employer's retirement plan
  • Your filing status
  • If you receive Social Security Benefits

If employer contributions exceed certain limits, employees can't deduct their employer's contribution to their SEP plan. If you are self-employed, you can generally deduct the contributions you make each year to your own SEP IRA.

Tax advantages

Tax-free when you take distributions

Pay no taxes until you take distributions

Distributions
  • Distribution of an original contribution is always tax and penalty free.
  • Any earnings and conversion dollars (from other retirement plans) are tax free after the IRS' 5 year aging requirement has been met AND you are 59½ or older; otherwise, you could incur a 10% penalty.
  • Taxable

  • Could include a 10% penalty if made before age 59½

Required minimum distributions

Not required

Mandatory at age 70½

Annual deadline for contributions

The deadline for filing your annual tax return.

The employer's deadline for filing its annual tax return, including any extensions.

Annual
Percentage Yield
(APY) accurate as of 04/27/2015
View All IRA Rates
Rate is variable and may change after the account is opened.
Consider For
Maximum savings with a
fixed rate
Option of a one-time rate increase if our Ally Bank 2-Year CD rate goes up
Earning a higher rate than
traditional savings accounts
No Minimum Deposit to Open
Interest Compounded Daily
Transaction Limits
Six transactions limit per statement cycle.
Why only 6?
Early Withdrawal Penalty and Fees
Other fees may apply, such
as those for returned deposit
items and outgoing wires
Types of IRA
Plans Available

24/7 Customer
Service

No Minimum
Deposit

Other products you may be interested in: View Checking View All Products

All IRA Rates

IRA High Yield CDs

5 year
3 year
18 month
12 month
9 month
6 month
3 month

IRA Raise Your Rate CDs

4 year
2 year

IRA Online Savings

Our Annual Percentage Yield (APY) is accurate as of 04/27/2015.

IRA High Yield CDs

5 year
3 year
18 month
12 month
9 month
6 month
3 month
Company
APY

Our Annual Percentage Yield (APY) is accurate as of 04/27/2015. The APYs for other banks are provided by mybanktracker.com and are accurate as of 04/27/2015. The APYs in this table are for the state of California. Not your state?

IRA Raise Your Rate CDs

2 year
4 year
Company
APY

Our Annual Percentage Yield (APY) is accurate as of 04/27/2015. The APYs for other banks are provided by mybanktracker.com and are accurate as of 04/27/2015. The APYs in this table are for the state of California. Not your state?

IRA Online Savings

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Company
APY

Our Annual Percentage Yield (APY) is accurate as of 04/27/2015. The APYs for other banks are provided by mybanktracker.com and are accurate as of 04/27/2015. The APYs in this table are for the state of California. Not your state?