Welcome to our all-encompassing guide tailored for those residing in the Last Frontier, Alaska (AK), seeking to grow their money by identifying and leveraging the best savings and investment opportunities. Alaska, known for its majestic mountains and stunning glaciers, is also home to various financial institutions that provide some of the best savings and investment options. In this guide, we will explore the best certificate of deposit rates, highlight the current interest rates on savings accounts, and identify the highest interest rates on money markets. Moreover, we will look into fixed annuity rates, a valuable tool for securing your financial future. Regardless of your preference between traditional banks, credit unions, or the convenience and accessibility of online platforms, our guide will assist you in finding the most favorable interest rates for your savings and investments. Buckle up and join us on this journey toward financial prosperity!
Earn The Highest Interest Rates On Savings Today
Fixed annuities are almost identical to Certificates of Deposit (CDs) accounts and provide higher interest rates and penalty-free withdrawals for income.
| Term | Insurance Company | APY |
|---|---|---|
| N/A | Money Market Account – Optimum Bank | 5.26% |
| N/A | Money Market Account – FVC Bank | 5.26% |
| N/A | Savings Account – CloudBank 24/7 | 5.26% |
| 12 Months | Bread Savings CD | 5.50% |
| 48 Months | Clear Spring Fixed Annuity | 5.15% |
| 5 Years | Athene Fixed Annuity | 5.30% |
| 10 Years | Equitrust Fixed Annuity | 6.00% |
Disclaimer: This is a review. The Annuity Expert is not associated with a bank or credit union. However, fixed annuities are sold at most financial institutions. We aim to help you find the highest interest rates for your retirement savings. We may receive a small referral fee if you purchase something using a link in this guide.
The Best Fixed Annuity Rates In Alaska
Fixed annuities are investment contracts that offer a guaranteed rate of return over a specific period of time. They are purchased from an insurance company and are considered a low-risk investment option. In Alaska, fixed annuities are popular among retirees and those who are looking for a reliable source of income in retirement.
Fixed annuities allow you to invest a lump sum of money in exchange for a guaranteed rate of return. This rate is usually higher than a traditional savings account but lower than other investment options such as stocks or bonds. Your money is invested in a diversified portfolio, and the insurance company manages the investment for you.
Disclaimer: Products are subject to state availability. Please inquire below for details.
The Best CD Rates In Alaska
If you’re looking for a safe and stable investment option in Alaska, certificates of deposit (CDs) could be perfect. By locking your money away with a CD, you can expect higher interest rates than regular savings accounts. They are especially popular among retirees seeking guaranteed returns and those who prefer to play it safe when investing their hard-earned cash.
CDs allow you to deposit a lump sum into an account for a specific period. The longer the term of the CD, the higher the interest rate you will receive. At the end of the term, you will receive your initial deposit plus the accumulated interest.
3-Month CD Rates
Banks and credit unions have the highest CD rates for three months.
| Best 3-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Ponce Bank | 5.30% APY | 3 Months | $1.00 |
| Oklahoma State Bank | 5.35% APY | 3 Months | $1.00 |
| Western Alliance Bank | 5.21% APY | 3 Months | $1.00 |
6-Month CD Rates
The following banks and credit unions have the highest CD rates for six months.
| Best 6-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Western Alliance Bank | 5.41% APY | 6 Months | $1.00 |
| Oklahoma State Bank | 5.40% APY | 6 Months | $1.00 |
| Generations Bank | 5.41% APY | 6 Months | $1.00 |
1-Year CD Rates
The following banks and credit unions have the highest CD rates for 12 months.
| Best 12-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Western Alliance Bank | 5.51% APY | 12 Months | $1.00 |
| Bread Savings | 5.50% APY | 12 Months | $1,500.00 |
| Connexus Credit Union | 5.50% APY | 12 Months | $1.00 |
2-Year CD Rates
Banks and credit unions have the highest CD rates for 24 months.
| Best 2-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Connexus Credit Union | 4.95% APY | 24 Months | $1.00 |
| Idabel National Bank | 4.90% APY | 24 Months | $1.00 |
| Bread Savings | 5.00% APY | 24 Months | $1,500.00 |
3-Year CD Rates
Banks and credit unions have the highest CD rates for 36 months.
| Best 3-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Valley Bank | 5.60% APY | 36 Months | $500.00 |
| Bread Savings | 4.75% APY | 36 Months | $1,500.00 |
| The State Exchange Bank | 4.70% APY | 36 Months | $1.00 |
4-Year CD Rates
The following banks and credit unions have the highest CD rates for 48 months.
| Best 4-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.50% APY | 48 Months | $1,500.00 |
| The State Exchange Bank | 4.50% APY | 48 Months | $1.00 |
| Barclays | 4.45% APY | 48 Months | $0.00 |
5-Year CD Rates
Banks and credit unions have the highest CD rates for 60 months.
| Best 5-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.50% APY | 60 Months | $1,500.00 |
| Barclays | 4.50% APY | 60 Months | $0.00 |
| The State Exchange Bank | 4.35% APY | 60 Months | $1.00 |
Benefits of Fixed Annuities in Alaska
- The guaranteed rate of return
- Tax-deferred growth
- Potential for a steady stream of income in retirement
- Low risk
- Potential for higher returns than traditional savings accounts
Drawbacks of Fixed Annuities in Alaska
- Fees and charges
- Potential for lower returns than other investment options
- Limited liquidity
- Early withdrawal penalties
Benefits of CDs in Alaska
- Guaranteed rate of return
- Low risk
- Potential for higher returns than traditional savings accounts
- Flexibility in terms and interest rates
- FDIC insured
Drawbacks of CDs in Alaska
- Early withdrawal penalties
- Potential for lower returns than other investment options
- Limited liquidity
Next Steps
Searching for the best-fixed rate annuities and CDs in Alaska can be daunting. It is essential to look at several providers and compare their rates and terms to find the most attractive option. Ultimately, each customer will have their own opinion on which type of annuity or CD rate is best for them. However, by comparing rates from different providers, Alaskans can be better equipped to make an informed decision that best suits their needs. If you are looking for help selecting the best-fixed annuity or CD rate for your situation, please don’t hesitate to contact us for a quote.
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.