1-year IRA CD

What is 1-year IRA CD?

1-year IRA CD meaning in finance terminology / glossary / dictionary is:
A 1-year IRA CD (certificate of deposit) is a savings instrument held within a tax-advantaged Individual Retirement Account (IRA). The deposit pays a fixed rate of interest and remains in effect for a period of one year. Funds cannot be withdrawn earlier than the one-year expiration without penalty. IRA CDs are insured by the FDIC for amounts up to $250,000 per depositor.

 

reference: MortgageLoan.com

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