The Best Fixed Annuity and CD Rates in Indiana 2022

The Best Annuity and CD Rates in Indiana Picture of 3 glass jars filled with coins labeled savings, pension and retirement

Table of Contents

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.

TermBankAPYMinimum Deposit
6 MonthsThe First National Bank Of Monterey 1.11%$1,000
1 YearBedford Federal Savings Bank0.90%$100,000
2 YearsBedford Federal Savings Bank1.15%$100,000
3 YearsBedford Federal Savings Bank1.30%$100,000
4 YearsBedford Federal Savings Bank1.40%$100,000
5 YearsCommunity First Bank of Indiana1.40%$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.

Issued ByInsurance CompaniesBanks
Investment Amount$2,000 - $1,000,000Essentially Any Amount
Investment Term2 years - 10 years3 months - 5 years
Interest Rates (APY)Varies by product.Varies by bank, term and investment amount.
LiquidityUsually, 10% annually or interest earned.Almost always accumulated interest.
GuaranteesBacked by Insurer & State Guaranty Associations.Backed by the FDIC.
Death BenefitMay avoid probate.Probate process required.

Today's Best Guaranteed Annuity Rates

Fixed annuity rates are guaranteed for a set number number of years.

TermInsurerCompany DetailsAnnuity RateAM BestApplication
2 Years Oceanview life and annuity logo OceanviewHarbourview 4.90%A-Apply
3 Years Farmers life insurance company logo Farmers LifeSafeguard Plus5.50%B++Apply
4 Years Americo annuity logo AMERICOPlatinum Assure5.20%AApply
5 Years Ibexis annuity logo Ibexis MYGA Plus5.90% SimpleA-Apply
6 Years Equitrust annuity logo EquiTrustCertainty Select5.65%B++Apply
7 Years Americo annuity logo AMERICOPlatinum Assure5.55%AApply
8 Years Equitrust annuity logo EquiTrustCertainty Select5.70%B++Apply
9 Years American national annuity logo American NationalPalladium MYG5.10%AApply
10 Years Equitrust annuity logo EquiTrustCertainty Select6.00%B++Apply

Today's Best CD Rates Nationally

Sallie Mae27 Months5.00%
SkyOne Federal Credit Union22 Months5.00%
Sallie Mae23 Months4.85%
Connexus Credit Union15 Months4.85%
Spectra Credit Union14 Months4.85%
Spectra Credit Union7 Months4.85%
Brilliant Bank15 Months4.85%
Synchrony Bank19 Months4.75%
Bread Savings5 Years4.75%
CFG Bank18 Months4.75%
Skyla Credit Union21 Months4.75%
INSBANK18 Months4.72%
My eBanc18 Months4.71%
My eBanc1 Year4.71%
North American Savings Bank2 Years4.71%
Blue FCU15 Months4.70%
Bread Savings4 Years4.65%
Merrick Bank2 Years4.65%
Merrick Bank18 Months4.65%
Merrick Bank1 Year4.65%
INSBANK1 Year4.65%
CFG Bank1 Year4.65%
American First Credit Union2 Years4.65%
Pelican State Credit Union4 Years4.61%
Popular Direct2 Years4.60%
CFG Bank5 Years4.60%
CFG Bank3 Years4.60%
Great Lakes Federal Credit Union1 Year4.60%
First Internet Bank1 Year4.59%
Allin Credit Union5 Years4.59%
Armed Forces Bank2 Years4.58%
Genisys Credit Union25 Months4.58%
Academy Bank2 Years4.58%
Popular Direct18 Months4.57%
Popular Bank3 Years4.57%
Popular Direct3 Years4.55%
Popular Direct1 Year4.55%
Merrick Bank4 Years4.55%
Merrick Bank3 Years4.55%
Popular Bank25 Months4.55%
Sallie Mae5 Years4.55%
Allin Credit Union4 Years4.54%
Connexus Credit Union1 Year4.51%
Popular Direct5 Years4.50%
Bread Savings3 Years4.50%
Bread Savings2 Years4.50%
Bread Savings1 Year4.50%
Alliant Credit Union3 Years4.50%
HSBC Bank2 Years4.50%
LiveOak Bank1 Year4.50%
Prime Alliance Bank3 Years4.50%
First National Bank of America7 Years4.50%
Popular Bank21 Months4.50%
Popular Bank19 Months4.50%
Sallie Mae3 Years4.50%
Mountain America Credit Union2 Years4.50%
TruMark Financial CU5 Years4.50%
CIT Bank18 Months4.50%
Franklin Mint FCU3 Years4.50%
NASA Federal Credit Union15 Months4.50%
AFFCU7 Months4.50%
Alma Bank9 Months4.50%
SkyOne Federal Credit Union15 Months4.50%
My eBanc2 Years4.50%
Rising Bank1 Year4.50%
North American Savings Bank13 Months4.50%
Pelican State Credit Union5 Years4.50%
Pelican State Credit Union3 Years4.50%
Brilliant Bank9 Months4.50%
American First Credit Union1 Year4.50%
Ponce Bank30 days4.50%
Department of Commerce Federal Credit Union5 Years4.49%
First Internet Bank2 Years4.49%
Allin Credit Union3 Years4.49%
Popular Direct4 Years4.47%
Merrick Bank5 Years4.45%
Popular Bank13 Months4.45%
Sallie Mae30 Months4.45%
First Internet Bank4 Years4.44%
First Internet Bank3 Years4.44%
First Internet Bank18 Months4.44%
Allin Credit Union2 Years4.44%
Lafayette Federal Credit Union5 Years4.42%
Merrick Bank9 Months4.40%
Merrick Bank6 Months4.40%
Department of Commerce Federal Credit Union2 Years4.40%
Limelight Bank3 Years4.40%
First National Bank of America6 Years4.40%
First National Bank of America3 Years4.40%
First National Bank of America2 Years4.40%
First National Bank of America1 Year4.40%
Sallie Mae2 Years4.40%
NASA Federal Credit Union9 Months4.40%
Benesco USA18 Months4.40%
Benesco USA1 Year4.40%
Pelican State Credit Union2 Years4.40%
First Internet Bank5 Years4.39%
Allin Credit Union18 Months4.39%
My eBanc6 Months4.39%
Department of Commerce Federal Credit Union4 Years4.38%
Department of Commerce Federal Credit Union3 Years4.37%
PENFED Credit Union2 Years4.35%
PENFED Credit Union18 Months4.35%
CIT Bank13 Months4.35%
First National Bank of America5 Years4.35%
First National Bank of America4 Years4.35%
Sallie Mae18 Months4.35%
Idabel National Bank2 Years4.35%
Pelican State Credit Union1 Year4.34%
Lafayette Federal Credit Union4 Years4.32%
Synchrony Bank5 Years4.30%
Synchrony Bank4 Years4.30%
Synchrony Bank3 Years4.30%
Synchrony Bank2 Years4.30%
Marcus by Goldman Sachs2 Years4.30%
Sallie Mae15 Months4.30%
Evansville Teachers FCU6 Years4.30%
Quontic Bank3 Years4.30%
Popular Direct6 Months4.25%
Synchrony Bank18 Months4.25%
Capital One5 Years4.25%
Alliant Credit Union5 Years4.25%
Alliant Credit Union4 Years4.25%
Alliant Credit Union2 Years4.25%
Alliant Credit Union18 Months4.25%
Marcus by Goldman Sachs18 Months4.25%
Discover Bank5 Years4.25%
HSBC Bank1 Year4.25%
EFCU Financial5 Years4.25%
PENFED Credit Union15 Months4.25%
PENFED Credit Union1 Year4.25%
LiveOak Bank6 Months4.25%
Sallie Mae13 Months4.25%
Sallie Mae1 Year4.25%
Mid Penn Bank3 Years4.25%
American Express5 Years4.25%
TruMark Financial CU4 Years4.25%
Ardent Credit Union5 Years4.25%
APCI Federal Credit Union18 Months4.25%
Barclays5 Years4.25%
Bankwell1 Year4.25%
Beehive Federal Credit Union30 Months4.25%
USAlliance Financial2 Years4.25%
Lafayette Federal Credit Union3 Years4.22%
Navy Federal7 Years4.20%
Capital One4 Years4.20%
Alliant Credit Union1 Year4.20%
Discover Bank4 Years4.20%
EFCU Financial4 Years4.20%
Mid Penn Bank30 Months4.20%
Citadel Credit Union7 Years4.20%
Citadel Credit Union5 Years4.20%
Barclays4 Years4.20%
La Capitol FCU4 Years4.20%
Andrews Federal CU5 Years4.20%
SkyOne Federal Credit Union1 Year4.20%
Rising Bank18 Months4.20%
Department of Commerce Federal Credit Union1 Year4.19%
Wright-Patt Credit Union6 Years4.18%
Armed Forces Bank13 Months4.16%
Academy Bank13 Months4.16%
Synchrony Bank1 Year4.15%
Capital One3 Years4.15%
Marcus by Goldman Sachs1 Year4.15%
Discover Bank3 Years4.15%
TIAA2 Years4.15%
TIAA18 Months4.15%
TIAA1 Year4.15%
Bank of Hope1 Year4.15%
Popular Bank4 Years4.15%
Mid Penn Bank2 Years4.15%
Barclays3 Years4.15%
Citi Bank18 Months4.15%
Citi Bank1 Year4.15%
Andrews Federal CU4 Years4.15%
Quontic Bank2 Years4.15%
Luana Savings Bank3 Years4.13%
Great River Federal Credit Union25 Months4.13%
GTE Financial3 Years4.13%
GTE Financial2 Years4.13%
GTE Financial1 Year4.13%
Lafayette Federal Credit Union2 Years4.11%
Navy Federal5 Years4.10%
Ally Bank5 Years4.10%
Ally Bank3 Years4.10%
Ally Bank18 Months4.10%
Capital One30 Months4.10%
Capital One2 Years4.10%
Discover Bank30 Months4.10%
Discover Bank2 Years4.10%
EFCU Financial3 Years4.10%
Radius Bank - LendingClub5 Years4.10%
Radius Bank - LendingClub3 Years4.10%
Radius Bank - LendingClub2 Years4.10%
Mid Penn Bank18 Months4.10%
American Heritage FCU30 Months4.10%
American Express2 Years4.10%
Citadel Credit Union4 Years4.10%
Ardent Credit Union4 Years4.10%
Barclays2 Years4.10%
La Capitol FCU3 Years4.10%
Andrews Federal CU3 Years4.10%
Bask Bank2 Years4.10%
Bask Bank18 Months4.10%
Bask Bank1 Year4.10%
Department of Commerce Federal Credit Union6 Months4.09%
Freedom Credit Union5 Years4.08%
Freedom Credit Union4 Years4.08%
Freedom Credit Union3 Years4.08%
Freedom Credit Union2 Years4.08%
Freedom Credit Union30 Months4.08%
Freedom Credit Union18 Months4.08%
Freedom Credit Union6 Months4.08%
Freedom Credit Union1 Year4.08%
My eBanc3 Years4.08%
First Internet Bank6 Months4.07%
Wright-Patt Credit Union5 Years4.07%
GTE Financial5 Years4.07%
Capital One18 Months4.05%
Discover Bank18 Months4.05%
Limelight Bank18 Months4.05%
PENFED Credit Union3 Years4.05%
Radius Bank - LendingClub18 Months4.05%
Sallie Mae (No Penalty)14 Months4.05%
American Heritage FCU5 Years4.05%
American Heritage FCU4 Years4.05%
Philadelphia Federal Credit Union5 Years4.05%
APCI Federal Credit Union30 Months4.05%
Barclays18 Months4.05%
Sound Credit Union30 Months4.05%
Evansville Teachers FCU5 Years4.05%
Evansville Teachers FCU18 Months4.05%
Evansville Teachers FCU17 Months4.05%
Evansville Teachers FCU14 Months4.05%
Evansville Teachers FCU4 Years4.05%
Evansville Teachers FCU3 Years4.05%
Evansville Teachers FCU30 Months4.05%
Evansville Teachers FCU1 Year4.05%
Evansville Teachers FCU2 Years4.05%
Andrews Federal CU2 Years4.05%
Luana Savings Bank2 Years4.03%
North American Savings Bank7 Months4.03%
Connexus Credit Union2 Years4.01%
Diamond Credit Union10 Years4.01%
Diamond Credit Union5 Years4.01%
Diamond Credit Union4 Years4.01%
TDECU18 Months4.00%
Navy Federal3 Years4.00%
Ally Bank1 Year4.00%
Capital One1 Year4.00%
Marcus by Goldman Sachs4 Years4.00%
Marcus by Goldman Sachs3 Years4.00%
Discover Bank1 Year4.00%
EFCU Financial30 Months4.00%
Apple Bank2 Years4.00%
Apple Bank1 Year4.00%
TIAA30 Months4.00%
Atlanta Postal Credit Union5 Years4.00%
Limelight Bank1 Year4.00%
Radius Bank - LendingClub1 Year4.00%
Prime Alliance Bank2 Years4.00%
Prime Alliance Bank18 Months4.00%
Prime Alliance Bank1 Year4.00%
Liberty Federal Credit Union6 Years4.00%
Sallie Mae (No Penalty)10 Months4.00%
Bethpage FCU1 Year4.00%
Lakeland Bank13 Months4.00%
Mountain America Credit Union5 Years4.00%
Landmark Credit Union5 Years4.00%
Amarillo National Bank18 Months4.00%
Amarillo National Bank2 Years4.00%
Teachers Federal Credit Union30 Months4.00%
Charlotte Metro Credit Union5 Years4.00%
Members First Credit Union1 Year4.00%
PSECU18 Months4.00%
American Express1 Year4.00%
Citadel Credit Union3 Years4.00%
Franklin Mint FCU5 Years4.00%
Franklin Mint FCU4 Years4.00%
APCI Federal Credit Union5 Years4.00%
APCI Federal Credit Union2 Years4.00%
Barclays1 Year4.00%
L&N Federal Credit Union2 Years4.00%
Cyprus Credit Union5 Years4.00%
CommunityWide FCU1 Year4.00%
NexBank5 Years4.00%
NexBank4 Years4.00%
NexBank3 Years4.00%
NexBank2 Years4.00%
GreenWood Credit Union2 Years4.00%
GreenWood Credit Union18 Months4.00%
GreenWood Credit Union13 Months4.00%
Affinity Plus FCU30 Months4.00%
Achieva Credit Union2 Years4.00%
Achieva Credit Union18 Months4.00%
Achieva Credit Union6 Months4.00%
Achieva Credit Union1 Year4.00%
America First Credit Union1 Year4.00%
American Eagle Financial Credit Union18 Months4.00%
Veridian Credit Union9 Months4.00%
Ponce Bank6 Months4.00%
Ponce Bank1 Month4.00%
TAB Bank5 Years4.00%
TAB Bank4 Years4.00%
TAB Bank3 Years4.00%
TAB Bank2 Years4.00%
TAB Bank18 Months4.00%
TAB Bank1 Year4.00%
Bask Bank6 Months4.00%
Skyla Credit Union5 Years4.00%
Idabel National Bank15 Months4.00%
Quontic Bank1 Year4.00%
AAA18 Months3.97%
Wright-Patt Credit Union4 Years3.97%
Navy Federal2 Years3.95%
EFCU Financial2 Years3.95%
Landmark Credit Union4 Years3.95%
Mid Penn Bank1 Year3.95%
La Capitol FCU2 Years3.95%
Chevron Federal Credit Union1 Year3.95%
Spectrum Federal Credit Union1 Year3.95%
Andrews Federal CU1 Year3.95%
Bank of Hope8 Months3.93%
PENFED Credit Union5 Years3.90%
PENFED Credit Union4 Years3.90%
Landmark Credit Union3 Years3.90%
Security Service Credit Union30 Months3.90%
Philadelphia Federal Credit Union4 Years3.90%
Patriot Federal Credit Union5 Years3.9
Chevron Federal Credit Union2 Years3.90%
Spectrum Federal Credit Union2 Years3.90%
Benesco USA6 Months3.90%
Idabel National Bank9 Months3.90%
AAA1 Year3.87%
Wright-Patt Credit Union3 Years3.87%
Alabama Power Credit Union5 Years3.87%
Navy Federal18 Months3.85%
EFCU Financial18 Months3.85%
Langley Federal Credit Union27 Months3.85%

3 Month CD Rates

TotalDirect Bank5.16% APY3 Months$25,000.00
Ponce Bank N.A.5.15% APY3 Months$50,000.00
Brilliant Bank5.10% APY3 Months$1,000.00
Alliant Credit Union4.50% APY3 Months$1,000.00
Popular Direct4.50% APY3 Months$10,000.00

12 Month CD Rates

Evergreen Bank Group5.50% APY13 Months10000
NexBank5.40% APY12 Months25000
BrioDirect5.35% APY12 Months500
Bread Savings5.25% APY12 Months1000
Barclays4.80% APY12 Months0

2 Year CD Rates

U.S. Senate Federal Credit Union5.28% APY24 Months1000
Summit Credit Union5.25% APY22 Months5000
Idabel National Bank5.05% APY24 Months1000
Bread Savings5.00% APY24 Months1500
PenFed Credit Union4.45% APY24 Months1000

3 Year CD Rates

U.S. Senate Federal Credit Union5.23% APY36 Months1000
Quorum Federal Credit Union4.85% APY36 Months1000
Popular Direct4.55% APY36 Months10000
Bread Savings4.50% APY36 Months1500
Barclays4.30% APY36 Months0

4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
NASA Federal Credit Union4.85% APY49 Months10000
GTE Financial4.85% APY48 Months500
First National Bank of America4.50% APY48 Months1000
Bread Savings4.35% APY48 Months1500

5 Year CD Rates

Lafayette Federal Credit Union4.68% APY60 Months500
Department of Commerce Federal Credit Union4.67% APY60-84 Months25000
GTE Financial4.54% APY60 Months500
Popular Direct4.53% APY60 Months10000
Bread Savings4.25% APY60 Months1500

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.


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

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.

Fixed Annuities do not have any fees or expenses unless you add an additional rider that was not mentioned on this page.

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