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IRA CD Account

Earn Interest and Plan Your Retirement Future

Get the benefits of a high yield certificate of deposit (CD) savings accounts combined with the tax benefits of an IRA. Amerant’s IRA CD is built for anyone that is looking to have predictable retirement income via reliable savings. With some of the most competitive interest rates available, now’s an ideal time to start with this type of retirement account.
No Monthly Service Fee. Early withdrawal penalties apply. 1

View Current Interest Rates.
Individual customers must be citizens or resident aliens of the United States (U.S.) with a valid U.S. Taxpayer identification number.
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IRA CD Benefits

FDIC Insurance

Amerant IRA CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to a maximum of $250,000.

Amerant Protection+

Amerant Bank is now offering ICS, the lntraFi Cash Service. Access millions in FDIC insurance at network banks.

No Loss

Your money saved will never lose value in the IRA CD. Whereas with stocks and ETFs the value can fluctuate, this is a stable growth account – so you experience no losses.

Earn Higher Interest

Compared with standard savings accounts, Amerant IRA CD earns a higher rate of interest. For longer periods, the rates are even higher. 2

Calculable Income

Because this CD is rooted in stability, as an asset, you will know upfront your interest and the length of time you will earn this interest.

Rollover Capability

Already have an IRA account? Rollover funds from your existing IRA by completing an IRA-to-IRA rollover. Rules apply to avoid an early withdrawal penalty from the IRS.

Retirement Planning

Plan your monthly retirement budget with the knowledge of stable income with all the tax advantage benefits of a traditional IRA.

Types of IRAs for Retirement Planning

Traditional IRA

Contributions may be tax-deductible and only taxed when you withdraw money at retirement. This lets your assets grow on a tax-deferred basis.

Roth IRA

Contributions aren’t tax-deductible, but your account assets grow on a tax-deferred basis, and you can withdraw it tax-free when you retire.

SIMPLE IRA

SIMPLE (Savings Incentive Match Plan for Employees) IRAs offer an affordable, easy way for small businesses (fewer than 100 employees) and their employees to set aside money for retirement.

SEP

SEP (Simplified Employee Pension Plan) accounts are an affordable, easy way for any business, including self-employed individuals, to set aside money for retirement for themselves and their employees. Annual contributions allow for up to 25% of an employee’s salary.

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Setting Up Your Account

Here’s how you can set up your IRA CDaccount.

1
Step One

Use our Contact Us form and provide information to have a relationship manager get in touch on opening an IRA CD account.
2
Step Two

Provide any rollover and applicable information during account opening.
3
Step 3

Start earning interest on your savings.
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Connect with a
Bank Representative

We’re here to help you grow. Fill out the form and we will connect you with the right person.

Your FAQs About IRA CD Accounts

To avoid early withdrawal penalties, funds in an IRA CD should be maintained until maturity at which time a new IRA CD term can be started or the funds can be rolled over into another IRA account. If funds are withdrawn prior to maturity, there may be applicable fees, and any interest will be forfeited.

Yes. IRA CD accounts are FDIC insured to a maximum of $250,000 per depositor.

No. IRA CD accounts are subject to IRS penalties and early withdrawal penalties, as a result, IRA CD accounts cannot be used for overdraft.

At maturity, you have the option of starting a new term for a new IRA CD with the current interest rate at the time or rolling it over into a traditional IRA account.

You can withdraw contributions and earnings without IRS penalty at age 591,2. Distributions are required to start by age 70 if you were by 12/31/2019. If you turned 701,2 in 2020 or any year after, distributions will not need to commence until you are age 72.

Contribution limits apply by age and income levels. Inquire by contacting us on your contribution limits.

1 Early withdrawal penalties apply to IRA CDs. For additional fees related to these accounts, please refer to our Miscellaneous Service Fees for Domestic Accounts. Interest begins to accrue on the business day we receive credit for the deposit of noncash items. You may not make deposits into or withdrawals from your account until the maturity date. CDs can have single maturity or automatic renewal at the maturity date. If the automatic renewal feature is selected, you will have 10 calendar days after maturity to withdraw funds without penalty, tax penalty may still apply. For additional information and terms related to this account, please refer to the rate chart provided at account opening.

2 CD must be opened commencing as of the stated term dates – with new funds deposited from another institution to Amerant Bank. Individual customers must be citizens or resident aliens of the United States (U.S.) with a valid U.S. Taxpayer identification number. Advertised rate is subject to change without notice. The APY will be determined and fixed for entire IRA CD term once account is opened and correctly completed documentation and funding is received. Penalties for early withdrawal may be imposed. Fees could reduce earnings on the account. CD will automatically renew for the same CD term at the current rate and APY available at that time.

USA PATRIOT Act

To help the government fight the funding of terrorism and money laundering activities, the Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What does this mean for you? When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may ask to see your driver’s license or other identifying documents.

Important Notice Regarding Wire Transfers

IF WE DO NOT HAVE YOUR FUNDS TRANSFER AGREEMENT IN OUR FILES, WE WILL NOT BE ABLE TO EXECUTE TRANSFERS.

We value our relationship and it is important for us to safeguard your privacy and ensure that your funds are protected against fraudulent activity at all times. For this reason, we are providing you a link to our Electronic Funds Transfers Disclosure, Funds Transfer Agreement and contract.

Customers who request wire transfers through an Account Officer, should download the new wire transfer “Wire Transfer Form” and Electronic Signature Agreement (E-sign Agreement) to authorize this type of transaction. The E-sign Agreement will only need to be signed the first time a wire transfer is initiated.

For fees related to this service, review our Miscellaneous Service Fees for Domestic Accounts and Miscellaneous Service Fees for International Accounts.

Understanding Your Deposits

IMPORTANT FUNDS AVAILABILITY INFORMATION

Please review Amerant’s Understanding Your Deposit brochure.

Important Information Related to the W-8 Form

The IRS implemented different W-8 forms for individuals and entities. For more detailed information regarding the W-8BEN and W-8BEN-E, visit www.irs.gov.

Please complete the form(s) below:

  1. W-8 for Individuals (Personal Accounts W-8BEN)
    In accordance with U.S. Internal Revenue Service – IRS regulations, the Bank is obligated to withhold taxes on U.S. interest to foreign customers unless it has received a properly completed Substitute Form W-8BEN “Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding” from the customer. All Substitute Forms W-8BEN are registered and maintained in the Bank’s files. Please follow the link to the Substitute Form W-8BEN.
  2. Explanation of US Mailing Address. Please follow the link to the Form.
  3. Send all documentation to: documentos@amerantbank.com. Add copy of unexpired government issued ID for every beneficial owner.
Know Your Customer

Managing a successful Know Your Customer (KYC) Program is a requirement of the U.S. banking system. Learn More.