Saving for later, explained by a person.
Traditional and Roth IRAs that hold savings or certificates, set up with a banker who explains each step.
An IRA is a savings account with tax benefits for retirement. At Copper it can hold High-Yield Savings or a certificate, so it earns the same rates as the rest of your money, with no account fee.
Not sure which kind is right for you? Bring your questions to any mint. We will explain the difference plainly, and point you to a tax professional for the parts we can't advise on.
Traditional or Roth
Two kinds of IRA.
The difference is when you pay tax: on the way in, or on the way out.
| Traditional IRA | Roth IRA | |
|---|---|---|
| Contributions | May be tax-deductible | Made with after-tax money |
| Growth | Tax-deferred | Tax-free |
| Withdrawals in retirement | Taxed as income | Tax-free, once you qualify |
| Holds | Savings or certificates | Savings or certificates |
| Account fee | $0 | $0 |
Contributions
- Traditional IRA
- May be tax-deductible
- Roth IRA
- Made with after-tax money
Growth
- Traditional IRA
- Tax-deferred
- Roth IRA
- Tax-free
Withdrawals in retirement
- Traditional IRA
- Taxed as income
- Roth IRA
- Tax-free, once you qualify
Holds
- Traditional IRA
- Savings or certificates
- Roth IRA
- Savings or certificates
Account fee
- Traditional IRA
- $0
- Roth IRA
- $0
This is a general comparison, not tax advice. Contribution limits and eligibility are set by the IRS each year.
Today's rates
What an IRA certificate earns.
| Term | Minimum | Rate |
|---|---|---|
| 6 months | $500 | 4.00% APY |
| 12 monthsFeatured | $500 | 4.35% APY |
| 24 months | $500 | 3.90% APY |
| 36 months | $500 | 3.75% APY |
6 months
- Minimum
- $500
- Rate
- 4.00% APY
12 monthsFeatured
- Minimum
- $500
- Rate
- 4.35% APY
24 months
- Minimum
- $500
- Rate
- 3.90% APY
36 months
- Minimum
- $500
- Rate
- 3.75% APY
* APY: as high as.
Rates effective October 1, 2026.
Certificate calculator
See what a certificate earns by the end of its term.
Should I choose a Traditional or a Roth IRA?
It depends on whether you would rather pay tax now or later. A banker can walk you through both, but we can't give tax advice; a tax professional can.
Can I move an IRA I already have to Copper?
Yes. We can transfer an IRA from another institution for you. Bring a recent statement to any mint or start it with Member Services.
What does my IRA earn?
Your IRA can hold savings or certificates, and earns the same rates as the accounts it holds. Today's rates are on our rates page.