The Best CD Rates and Annuity Rates in Indiana
In this guide, we will compare the best CD rates to the best annuity rates in Indiana.
| Term | Bank | APY | Minimum Deposit |
|---|---|---|---|
| 6 Months | The First National Bank Of Monterey | 1.11% | $1,000 |
| 1 Year | Bedford Federal Savings Bank | 0.90% | $100,000 |
| 2 Years | Bedford Federal Savings Bank | 1.15% | $100,000 |
| 3 Years | Bedford Federal Savings Bank | 1.30% | $100,000 |
| 4 Years | Bedford Federal Savings Bank | 1.40% | $100,000 |
| 5 Years | Community First Bank of Indiana | 1.40% | $1,000 |
CDs vs Fixed Annuity
A multi year guaranteed annuity (MYGA) is essentially a CD that is issued by an insurance company rather than a bank. The table below compares and contrasts some of the key differences and similarities between the two.
| FEATURES | FIXED ANNUITY | CD |
|---|---|---|
| Issued By | Insurance Companies | Banks |
| Investment Amount | $2,000 - $1,000,000 | Essentially Any Amount |
| Investment Term | 2 years - 10 years | 3 months - 5 years |
| Interest Rates (APY) | Varies by product. | Varies by bank, term and investment amount. |
| Liquidity | Usually, 10% annually or interest earned. | Almost always accumulated interest. |
| Guarantees | Backed by Insurer & State Guaranty Associations. | Backed by the FDIC. |
| Death Benefit | May avoid probate. | Probate process required. |
Today's Best Guaranteed Annuity Rates
Fixed annuity rates are guaranteed for a set number number of years.
| Term | Insurer | Company Review | Rate | Annuity | AM Best | Application |
|---|---|---|---|---|---|---|
| 2 Years | 
| Upstream Life | 5.25% | Secure Legacy | B- | Apply |
| 3 Years |  | Aspida | 5.00% | Synergy Choice | A- | Apply |
| 4 Years |
| Upstream Life | 5.70% | Secure Legacy | B- | Apply |
| 5 Years |  | Farmers Life | 5.40% | Safeguard Plus | B++ | Apply |
| 6 Years | 
| Oceanview | 5.50% ($80K+) 5.15% ($20K-$80K) | Harbourview 6 | A | Apply |
| 7 Years | 
| Ibexis | 5.70% Simple | MYGA Plus | A- | Apply |
| 8 Years | 
| EquiTrust | 5.10% | Certainty Select | B++ | Apply |
| 9 Years | 
| Oxford Life | 5.10% | Harbourview 9 | A | Apply |
| 10 Years |
| Oceanview | 5.40% | Harbourview 10 | A | Apply |
Today's Best CD Rates Nationally
| Bank | Term | Rate |
|---|---|---|
| Sallie Mae | 27 Months | 5.00% |
| SkyOne Federal Credit Union | 22 Months | 5.00% |
| Sallie Mae | 23 Months | 4.85% |
| Connexus Credit Union | 15 Months | 4.85% |
| Spectra Credit Union | 14 Months | 4.85% |
| Spectra Credit Union | 7 Months | 4.85% |
| Brilliant Bank | 15 Months | 4.85% |
| Synchrony Bank | 19 Months | 4.75% |
| Bread Savings | 5 Years | 4.75% |
| CFG Bank | 18 Months | 4.75% |
| Skyla Credit Union | 21 Months | 4.75% |
| INSBANK | 18 Months | 4.72% |
| My eBanc | 18 Months | 4.71% |
| My eBanc | 1 Year | 4.71% |
| North American Savings Bank | 2 Years | 4.71% |
| Blue FCU | 15 Months | 4.70% |
| Bread Savings | 4 Years | 4.65% |
| Merrick Bank | 2 Years | 4.65% |
| Merrick Bank | 18 Months | 4.65% |
| Merrick Bank | 1 Year | 4.65% |
| INSBANK | 1 Year | 4.65% |
| CFG Bank | 1 Year | 4.65% |
| American First Credit Union | 2 Years | 4.65% |
| Pelican State Credit Union | 4 Years | 4.61% |
| Popular Direct | 2 Years | 4.60% |
| CFG Bank | 5 Years | 4.60% |
| CFG Bank | 3 Years | 4.60% |
| Great Lakes Federal Credit Union | 1 Year | 4.60% |
| First Internet Bank | 1 Year | 4.59% |
| Allin Credit Union | 5 Years | 4.59% |
| Armed Forces Bank | 2 Years | 4.58% |
| Genisys Credit Union | 25 Months | 4.58% |
| Academy Bank | 2 Years | 4.58% |
| Popular Direct | 18 Months | 4.57% |
| Popular Bank | 3 Years | 4.57% |
| Popular Direct | 3 Years | 4.55% |
| Popular Direct | 1 Year | 4.55% |
| Merrick Bank | 4 Years | 4.55% |
| Merrick Bank | 3 Years | 4.55% |
| Popular Bank | 25 Months | 4.55% |
| Sallie Mae | 5 Years | 4.55% |
| Allin Credit Union | 4 Years | 4.54% |
| Connexus Credit Union | 1 Year | 4.51% |
| Popular Direct | 5 Years | 4.50% |
| Bread Savings | 3 Years | 4.50% |
| Bread Savings | 2 Years | 4.50% |
| Bread Savings | 1 Year | 4.50% |
| Alliant Credit Union | 3 Years | 4.50% |
| HSBC Bank | 2 Years | 4.50% |
| LiveOak Bank | 1 Year | 4.50% |
| Prime Alliance Bank | 3 Years | 4.50% |
| First National Bank of America | 7 Years | 4.50% |
| Popular Bank | 21 Months | 4.50% |
| Popular Bank | 19 Months | 4.50% |
| Sallie Mae | 3 Years | 4.50% |
| Mountain America Credit Union | 2 Years | 4.50% |
| TruMark Financial CU | 5 Years | 4.50% |
| CIT Bank | 18 Months | 4.50% |
| Franklin Mint FCU | 3 Years | 4.50% |
| NASA Federal Credit Union | 15 Months | 4.50% |
| AFFCU | 7 Months | 4.50% |
| Alma Bank | 9 Months | 4.50% |
| SkyOne Federal Credit Union | 15 Months | 4.50% |
| My eBanc | 2 Years | 4.50% |
| Rising Bank | 1 Year | 4.50% |
| North American Savings Bank | 13 Months | 4.50% |
| Pelican State Credit Union | 5 Years | 4.50% |
| Pelican State Credit Union | 3 Years | 4.50% |
| Brilliant Bank | 9 Months | 4.50% |
| American First Credit Union | 1 Year | 4.50% |
| Ponce Bank | 30 days | 4.50% |
| Department of Commerce Federal Credit Union | 5 Years | 4.49% |
| First Internet Bank | 2 Years | 4.49% |
| Allin Credit Union | 3 Years | 4.49% |
| Popular Direct | 4 Years | 4.47% |
| Merrick Bank | 5 Years | 4.45% |
| Popular Bank | 13 Months | 4.45% |
| Sallie Mae | 30 Months | 4.45% |
| First Internet Bank | 4 Years | 4.44% |
| First Internet Bank | 3 Years | 4.44% |
| First Internet Bank | 18 Months | 4.44% |
| Allin Credit Union | 2 Years | 4.44% |
| Lafayette Federal Credit Union | 5 Years | 4.42% |
| Merrick Bank | 9 Months | 4.40% |
| Merrick Bank | 6 Months | 4.40% |
| Department of Commerce Federal Credit Union | 2 Years | 4.40% |
| Limelight Bank | 3 Years | 4.40% |
| First National Bank of America | 6 Years | 4.40% |
| First National Bank of America | 3 Years | 4.40% |
| First National Bank of America | 2 Years | 4.40% |
| First National Bank of America | 1 Year | 4.40% |
| Sallie Mae | 2 Years | 4.40% |
| NASA Federal Credit Union | 9 Months | 4.40% |
| Benesco USA | 18 Months | 4.40% |
| Benesco USA | 1 Year | 4.40% |
| Pelican State Credit Union | 2 Years | 4.40% |
| First Internet Bank | 5 Years | 4.39% |
| Allin Credit Union | 18 Months | 4.39% |
| My eBanc | 6 Months | 4.39% |
| Department of Commerce Federal Credit Union | 4 Years | 4.38% |
| Department of Commerce Federal Credit Union | 3 Years | 4.37% |
| PENFED Credit Union | 2 Years | 4.35% |
| PENFED Credit Union | 18 Months | 4.35% |
| CIT Bank | 13 Months | 4.35% |
| First National Bank of America | 5 Years | 4.35% |
| First National Bank of America | 4 Years | 4.35% |
| Sallie Mae | 18 Months | 4.35% |
| Idabel National Bank | 2 Years | 4.35% |
| Pelican State Credit Union | 1 Year | 4.34% |
| Lafayette Federal Credit Union | 4 Years | 4.32% |
| Synchrony Bank | 5 Years | 4.30% |
| Synchrony Bank | 4 Years | 4.30% |
| Synchrony Bank | 3 Years | 4.30% |
| Synchrony Bank | 2 Years | 4.30% |
| Marcus by Goldman Sachs | 2 Years | 4.30% |
| Sallie Mae | 15 Months | 4.30% |
| Evansville Teachers FCU | 6 Years | 4.30% |
| Quontic Bank | 3 Years | 4.30% |
| Popular Direct | 6 Months | 4.25% |
| Synchrony Bank | 18 Months | 4.25% |
| Capital One | 5 Years | 4.25% |
| Alliant Credit Union | 5 Years | 4.25% |
| Alliant Credit Union | 4 Years | 4.25% |
| Alliant Credit Union | 2 Years | 4.25% |
| Alliant Credit Union | 18 Months | 4.25% |
| Marcus by Goldman Sachs | 18 Months | 4.25% |
| Discover Bank | 5 Years | 4.25% |
| HSBC Bank | 1 Year | 4.25% |
| EFCU Financial | 5 Years | 4.25% |
| PENFED Credit Union | 15 Months | 4.25% |
| PENFED Credit Union | 1 Year | 4.25% |
| LiveOak Bank | 6 Months | 4.25% |
| Sallie Mae | 13 Months | 4.25% |
| Sallie Mae | 1 Year | 4.25% |
| Mid Penn Bank | 3 Years | 4.25% |
| American Express | 5 Years | 4.25% |
| TruMark Financial CU | 4 Years | 4.25% |
| Ardent Credit Union | 5 Years | 4.25% |
| APCI Federal Credit Union | 18 Months | 4.25% |
| Barclays | 5 Years | 4.25% |
| Bankwell | 1 Year | 4.25% |
| Beehive Federal Credit Union | 30 Months | 4.25% |
| USAlliance Financial | 2 Years | 4.25% |
| Lafayette Federal Credit Union | 3 Years | 4.22% |
| Navy Federal | 7 Years | 4.20% |
| Capital One | 4 Years | 4.20% |
| Alliant Credit Union | 1 Year | 4.20% |
| Discover Bank | 4 Years | 4.20% |
| EFCU Financial | 4 Years | 4.20% |
| Mid Penn Bank | 30 Months | 4.20% |
| Citadel Credit Union | 7 Years | 4.20% |
| Citadel Credit Union | 5 Years | 4.20% |
| Barclays | 4 Years | 4.20% |
| La Capitol FCU | 4 Years | 4.20% |
| Andrews Federal CU | 5 Years | 4.20% |
| SkyOne Federal Credit Union | 1 Year | 4.20% |
| Rising Bank | 18 Months | 4.20% |
| Department of Commerce Federal Credit Union | 1 Year | 4.19% |
| Wright-Patt Credit Union | 6 Years | 4.18% |
| Armed Forces Bank | 13 Months | 4.16% |
| Academy Bank | 13 Months | 4.16% |
| Synchrony Bank | 1 Year | 4.15% |
| Capital One | 3 Years | 4.15% |
| Marcus by Goldman Sachs | 1 Year | 4.15% |
| Discover Bank | 3 Years | 4.15% |
| TIAA | 2 Years | 4.15% |
| TIAA | 18 Months | 4.15% |
| TIAA | 1 Year | 4.15% |
| Bank of Hope | 1 Year | 4.15% |
| Popular Bank | 4 Years | 4.15% |
| Mid Penn Bank | 2 Years | 4.15% |
| Barclays | 3 Years | 4.15% |
| Citi Bank | 18 Months | 4.15% |
| Citi Bank | 1 Year | 4.15% |
| Andrews Federal CU | 4 Years | 4.15% |
| Quontic Bank | 2 Years | 4.15% |
| Luana Savings Bank | 3 Years | 4.13% |
| Great River Federal Credit Union | 25 Months | 4.13% |
| GTE Financial | 3 Years | 4.13% |
| GTE Financial | 2 Years | 4.13% |
| GTE Financial | 1 Year | 4.13% |
| Lafayette Federal Credit Union | 2 Years | 4.11% |
| Navy Federal | 5 Years | 4.10% |
| Ally Bank | 5 Years | 4.10% |
| Ally Bank | 3 Years | 4.10% |
| Ally Bank | 18 Months | 4.10% |
| Capital One | 30 Months | 4.10% |
| Capital One | 2 Years | 4.10% |
| Discover Bank | 30 Months | 4.10% |
| Discover Bank | 2 Years | 4.10% |
| EFCU Financial | 3 Years | 4.10% |
| Radius Bank - LendingClub | 5 Years | 4.10% |
| Radius Bank - LendingClub | 3 Years | 4.10% |
| Radius Bank - LendingClub | 2 Years | 4.10% |
| Mid Penn Bank | 18 Months | 4.10% |
| American Heritage FCU | 30 Months | 4.10% |
| American Express | 2 Years | 4.10% |
| Citadel Credit Union | 4 Years | 4.10% |
| Ardent Credit Union | 4 Years | 4.10% |
| Barclays | 2 Years | 4.10% |
| La Capitol FCU | 3 Years | 4.10% |
| Andrews Federal CU | 3 Years | 4.10% |
| Bask Bank | 2 Years | 4.10% |
| Bask Bank | 18 Months | 4.10% |
| Bask Bank | 1 Year | 4.10% |
| Department of Commerce Federal Credit Union | 6 Months | 4.09% |
| Freedom Credit Union | 5 Years | 4.08% |
| Freedom Credit Union | 4 Years | 4.08% |
| Freedom Credit Union | 3 Years | 4.08% |
| Freedom Credit Union | 2 Years | 4.08% |
| Freedom Credit Union | 30 Months | 4.08% |
| Freedom Credit Union | 18 Months | 4.08% |
| Freedom Credit Union | 6 Months | 4.08% |
| Freedom Credit Union | 1 Year | 4.08% |
| My eBanc | 3 Years | 4.08% |
| First Internet Bank | 6 Months | 4.07% |
| Wright-Patt Credit Union | 5 Years | 4.07% |
| GTE Financial | 5 Years | 4.07% |
| Capital One | 18 Months | 4.05% |
| Discover Bank | 18 Months | 4.05% |
| Limelight Bank | 18 Months | 4.05% |
| PENFED Credit Union | 3 Years | 4.05% |
| Radius Bank - LendingClub | 18 Months | 4.05% |
| Sallie Mae (No Penalty) | 14 Months | 4.05% |
| American Heritage FCU | 5 Years | 4.05% |
| American Heritage FCU | 4 Years | 4.05% |
| Philadelphia Federal Credit Union | 5 Years | 4.05% |
| APCI Federal Credit Union | 30 Months | 4.05% |
| Barclays | 18 Months | 4.05% |
| Sound Credit Union | 30 Months | 4.05% |
| Evansville Teachers FCU | 5 Years | 4.05% |
| Evansville Teachers FCU | 18 Months | 4.05% |
| Evansville Teachers FCU | 17 Months | 4.05% |
| Evansville Teachers FCU | 14 Months | 4.05% |
| Evansville Teachers FCU | 4 Years | 4.05% |
| Evansville Teachers FCU | 3 Years | 4.05% |
| Evansville Teachers FCU | 30 Months | 4.05% |
| Evansville Teachers FCU | 1 Year | 4.05% |
| Evansville Teachers FCU | 2 Years | 4.05% |
| Andrews Federal CU | 2 Years | 4.05% |
| Luana Savings Bank | 2 Years | 4.03% |
| North American Savings Bank | 7 Months | 4.03% |
| Connexus Credit Union | 2 Years | 4.01% |
| Diamond Credit Union | 10 Years | 4.01% |
| Diamond Credit Union | 5 Years | 4.01% |
| Diamond Credit Union | 4 Years | 4.01% |
| TDECU | 18 Months | 4.00% |
| Navy Federal | 3 Years | 4.00% |
| Ally Bank | 1 Year | 4.00% |
| Capital One | 1 Year | 4.00% |
| Marcus by Goldman Sachs | 4 Years | 4.00% |
| Marcus by Goldman Sachs | 3 Years | 4.00% |
| Discover Bank | 1 Year | 4.00% |
| EFCU Financial | 30 Months | 4.00% |
| Apple Bank | 2 Years | 4.00% |
| Apple Bank | 1 Year | 4.00% |
| TIAA | 30 Months | 4.00% |
| Atlanta Postal Credit Union | 5 Years | 4.00% |
| Limelight Bank | 1 Year | 4.00% |
| Radius Bank - LendingClub | 1 Year | 4.00% |
| Prime Alliance Bank | 2 Years | 4.00% |
| Prime Alliance Bank | 18 Months | 4.00% |
| Prime Alliance Bank | 1 Year | 4.00% |
| Liberty Federal Credit Union | 6 Years | 4.00% |
| Sallie Mae (No Penalty) | 10 Months | 4.00% |
| Bethpage FCU | 1 Year | 4.00% |
| Lakeland Bank | 13 Months | 4.00% |
| Mountain America Credit Union | 5 Years | 4.00% |
| Landmark Credit Union | 5 Years | 4.00% |
| Amarillo National Bank | 18 Months | 4.00% |
| Amarillo National Bank | 2 Years | 4.00% |
| Teachers Federal Credit Union | 30 Months | 4.00% |
| Charlotte Metro Credit Union | 5 Years | 4.00% |
| Members First Credit Union | 1 Year | 4.00% |
| PSECU | 18 Months | 4.00% |
| American Express | 1 Year | 4.00% |
| Citadel Credit Union | 3 Years | 4.00% |
| Franklin Mint FCU | 5 Years | 4.00% |
| Franklin Mint FCU | 4 Years | 4.00% |
| APCI Federal Credit Union | 5 Years | 4.00% |
| APCI Federal Credit Union | 2 Years | 4.00% |
| Barclays | 1 Year | 4.00% |
| L&N Federal Credit Union | 2 Years | 4.00% |
| Cyprus Credit Union | 5 Years | 4.00% |
| CommunityWide FCU | 1 Year | 4.00% |
| NexBank | 5 Years | 4.00% |
| NexBank | 4 Years | 4.00% |
| NexBank | 3 Years | 4.00% |
| NexBank | 2 Years | 4.00% |
| GreenWood Credit Union | 2 Years | 4.00% |
| GreenWood Credit Union | 18 Months | 4.00% |
| GreenWood Credit Union | 13 Months | 4.00% |
| Affinity Plus FCU | 30 Months | 4.00% |
| Achieva Credit Union | 2 Years | 4.00% |
| Achieva Credit Union | 18 Months | 4.00% |
| Achieva Credit Union | 6 Months | 4.00% |
| Achieva Credit Union | 1 Year | 4.00% |
| America First Credit Union | 1 Year | 4.00% |
| American Eagle Financial Credit Union | 18 Months | 4.00% |
| Veridian Credit Union | 9 Months | 4.00% |
| Ponce Bank | 6 Months | 4.00% |
| Ponce Bank | 1 Month | 4.00% |
| TAB Bank | 5 Years | 4.00% |
| TAB Bank | 4 Years | 4.00% |
| TAB Bank | 3 Years | 4.00% |
| TAB Bank | 2 Years | 4.00% |
| TAB Bank | 18 Months | 4.00% |
| TAB Bank | 1 Year | 4.00% |
| Bask Bank | 6 Months | 4.00% |
| Skyla Credit Union | 5 Years | 4.00% |
| Idabel National Bank | 15 Months | 4.00% |
| Quontic Bank | 1 Year | 4.00% |
| AAA | 18 Months | 3.97% |
| Wright-Patt Credit Union | 4 Years | 3.97% |
| Navy Federal | 2 Years | 3.95% |
| EFCU Financial | 2 Years | 3.95% |
| Landmark Credit Union | 4 Years | 3.95% |
| Mid Penn Bank | 1 Year | 3.95% |
| La Capitol FCU | 2 Years | 3.95% |
| Chevron Federal Credit Union | 1 Year | 3.95% |
| Spectrum Federal Credit Union | 1 Year | 3.95% |
| Andrews Federal CU | 1 Year | 3.95% |
| Bank of Hope | 8 Months | 3.93% |
| PENFED Credit Union | 5 Years | 3.90% |
| PENFED Credit Union | 4 Years | 3.90% |
| Landmark Credit Union | 3 Years | 3.90% |
| Security Service Credit Union | 30 Months | 3.90% |
| Philadelphia Federal Credit Union | 4 Years | 3.90% |
| Patriot Federal Credit Union | 5 Years | 3.9 |
| Chevron Federal Credit Union | 2 Years | 3.90% |
| Spectrum Federal Credit Union | 2 Years | 3.90% |
| Benesco USA | 6 Months | 3.90% |
| Idabel National Bank | 9 Months | 3.90% |
| AAA | 1 Year | 3.87% |
| Wright-Patt Credit Union | 3 Years | 3.87% |
| Alabama Power Credit Union | 5 Years | 3.87% |
| Navy Federal | 18 Months | 3.85% |
| EFCU Financial | 18 Months | 3.85% |
| Langley Federal Credit Union | 27 Months | 3.85% |
3 Month CD Rates
| Best 3-Month CD Rates | APY | Term | Minimum |
|---|---|---|---|
| Signature Federal Credit Union | 5.55% | 3 Months | $500 |
| Ponce Bank | 5.40% | 3 Months | $1 |
| Western Alliance Bank | 5.41% | 3 Months | $1 |
12 Month CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| All In Credit Union | 5.85% APY | 12 Months | $100,000 |
| My eBanc | 5.77% APY | 12 Months | $100,000 |
| State Bank of Texas | 5.75% APY | 12 Months | $50,000 |
2 Year CD Rates
| Bank | Rate | Term | Minimum |
|---|---|---|---|
| Luana Savings Bank | 5.68% APY | 24 Months | $100,000.00 |
| Maple Mark Bank | 5.40% APY | 24 Months | $25,000.00 |
| Crescent Bank | 5.35% APY | 24 Months | $1,000.00 |
3 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Valley National Bank | 5.60% | 36 Months | $500 |
| Bread Savings | 4.95% | 36 Months | $1,500 |
| The State Exchange Bank | 4.70% | 36 Months | $1 |
4 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.75% | 48 Months | $1 |
| The State Exchange Bank | 4.50% | 48 Months | $1 |
| Barclays | 4.45% | 48 Months | $1 |
5 Year CD Rates
| Bank | APY | Term | Minimum |
|---|---|---|---|
| Farmers Insurance | 5.00% | 60 Months | $1,000 |
| Schools First Credit Union | 4.75% | 60 Months | $100,000 |
| Bread Savings | 4.75% | 60 Months | $1,500 |
Key Take-Aways
A certificate of deposit is very similar to a fixed annuity. If you are looking for a safe and steady way to grow your retirement savings you can learn more about fixed “CD Type Annuities” here.
If you would like a personalized annuity quote you can contact us or use one of our fixed annuity calculators to see how much an annuity would pay you.
What is a CD (Certificate of Deposit)?
A CD, or certificate of deposit, is a bank account with a fixed interest rate that’s generally higher than that of a regular savings account, and a fixed date of withdrawal, known as the maturity date. Common terms range from three months to five years.
Pros: The ability to lock in rates when they’re high is one of the most attractive features of a CD, especially since regular savings accounts have variable rates subject to change at any time. Even outside of high-rate environments, though, CDs provide a safe, federally insured place for short-term savings.
Cons: You’ll generally have to pay a penalty if you withdraw your money before a CD matures; the penalty can be equal to several months or a year’s worth of interest.
What else to consider: Fixed Annuities provide guaranteed rates for a set number of years and typically pay higher interest rates than a CD.
What is a no-penalty CD?
A no-penalty CD is a type of CD that doesn’t have a penalty for withdrawing money before the term ends. It can be appealing if you want the traditionally higher yield of a CD, compared to regular savings accounts, but you might need the money sooner than you expect.
What happens if I withdraw from a CD early?
Most CDs have an early withdrawal penalty that tends to range from several months to a year’s worth of interest earned, depending on the CD term length and the bank’s policy. No-penalty CDs are the only type of CD that lets you withdraw money from a CD early without a fee.
FAQs
Are Annuities FDIC Insured?
While not FDIC insured, State Guaranty Associations provide a safety net for their state’s annuity policyholders. These Guaranty Associations guarantee policyholders continue to receive coverage (up to the limits spelled out by state law) even if their insurer is declared insolvent. Source: “Learn to Invest, Investment Types, Annuities, Fixed Annuities.” Financial Industry Regulatory Authority (FINRA). Visit FINRA’s Fixed Annuities Webpage
Can you Loose money in a fixed annuity?
You can not lose money in a fixed annuity. However, guarantees are backed by the claims-paying ability of the issuing insurance company so it is important to consider an insurer’s financial rating when shopping for an annuity.
Does a Fixed Annuity Have any Fees?
Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.
