Deposit options to fit your needs.
Comerica IRAs and ESAs provide investment alternatives with flexible terms, competitive rates and a variety of CD deposit options for each of Comerica’s IRA and ESA products.
With an IRA or ESA
- You can invest your retirement or education savings into
- Fixed-rate IRA or ESA CDs with terms ranging from 30 days to 10 years
- Flexible-rate IRA or ESA CDs with
- One withdrawal from a Flexible-rate IRA or ESA CD of up to 50% of the account balance at any time before maturity without incurring a bank penalty after the account has been opened for 7 or more days2
- A one-year Flexible-rate term allows additional deposits at any time
- You can spread out your deposits so that they mature at different times. This helps to protect your investments as rates fluctuate and makes withdrawal for qualifying expenses easier
- Minimum opening deposit is lower than non-IRA or non-ESA CDs
- Higher balances in your IRA or ESA CDs mean
- You may earn higher rates with Comerica’s tiered rate structure
- Your balances may be used to offset your monthly checking account maintenance fee1
- You may qualify for premium pricing1
- Interest is compounded monthly and can be rolled into your principal or paid out via several payment options
- Annual statements and tax notices
- Automatic Renewal with renewal notices for Fixed and Flexible rate terms
- Grace period during which you can make changes without a bank penalty
- Funds are FDIC insured up to applicable limits4
- No annual maintenance fees1,5
1 Refer to the Personal Services and Charges Brochure for your market.
2 Withdrawals from IRAs and ESAs may be subject to IRS penalty unless for qualified reasons governed by the IRS
3 Comerica Bank and its affiliates do not provide tax or legal advice. Please consult with your tax and legal advisors regarding your specific situation
4 Comerica Bank is a Member FDIC, accounts FDIC insured up to the maximum amount allowed by law.
5 Bank fees may apply for early withdrawal or exiting the account; fees may reduce earnings on