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.

Penalty-Free Withdrawals1

Access your funds without incurring early bank withdrawal penalties.

Tax Deferred Savings. Interest Guaranteed.

Enjoy a fixed interest rate with interest paid monthly. Watch your CD grow without being taxed until you retire and withdraw.

Unlimited Deposits2

Open your CD with only $1,000 and enjoy unlimited deposits during the term of your CD up to the IRA contribution limit.2

Current IRA Rates and Terms

Available as a Traditional IRA or Roth IRA.

12-Month CD

3.49% APY3

$1,000 minimum to open

24-Month CD

2.25% APY3

$1,000 minimum to open

36-Month CD

2.75% APY3

$1,000 minimum to open

60-Month CD

3.01% APY3

$1,000 minimum to open
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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?

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.

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.

Open Your Account

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

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IRA CD FAQ

What is an IRA CD, and how does it work?

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.

What are the benefits of an IRA CD?

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.

What’s the difference between a traditional IRA CD and a Roth IRA CD?

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.

Can I make additional contributions to my IRA CD after it has been opened?

Yes, you can continue to make additional contributions as long as you are below the contribution threshold for the current tax year. 2

What happens when my IRA CD reaches maturity?

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.

Are there any penalties for withdrawing funds from my IRA CD before it matures?

No,withdrawing funds from your IRA CD are penalty-free. Early withdrawals before age 59½ may be subject to IRS penalties. Please visit https://www.irs.gov/retirement-plans/individual-retirement-arrangements-iras for more information.1

Can I transfer my existing IRA to a BayFirst IRA CD?

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 Withdrawals from IRAs are generally subject to income tax and may incur a 10% penalty if taken before age 59 1/2.
2 For the 2025 tax year, the IRA contribution limit is $7,000 for individuals under age 50 and $8,000 for those age 50 or older.
3 Advertised Annual Percentage Yield (APY) may change after maturity, applies to personal accounts only, and are accurate as of 2/3/2026. Minimum deposit of $1,000. A penalty may be charged for early withdrawal. Fees could reduce earnings.