The Best Fixed Annuity and CD Rates in Alaska (June 2024)

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

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!

Our Favorite Rates To Grow Your Money

TermSavings AccountInstitutionAPY
N/AMoney Market AccountHanover Bank5.27%
N/ASavings AccountGreenwood Credit Union5.27%
12 MonthsCDBread Savings5.25%
5 YearsFixed AnnuityWichita National6.50%

Disclaimer: This is a comparison review. The Annuity Expert is not associated with a bank or credit union. We aim to help you find the highest interest rates for your 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 RatesRateTermMinimum
Merrick Bank5.40% APY3 Months$25,000.00
Total Direct Bank5.51% APY3 Months$25,000.00
Banc of California5.34% APY3 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 RatesRateTermMinimum
Inova Federal Credit Union5.50% APY6 Months$200.00
My eBanc5.51% APY6 Months$50,000.00
Total Direct Bank5.51% APY6 Months$25,00.00

1-Year CD Rates

The following banks and credit unions have the highest CD rates for 12 months.

Best 12-Month CD RatesRateTermMinimum
NexBank5.40% APY12 Months$25,000.00
State Bank of Texas5.40% APY12 Months$50,000.00
My eBanc5.41% APY12 Months$50,000.00

2-Year CD Rates

Banks and credit unions have the highest CD rates for 24 months.

Best 2-Year CD RatesRateTermMinimum
Crescent Bank4.90% APY24 Months$1,000.00
Eastman Credit Union5.40% APY24 Months$100,000.00
NexBank4.80% APY24 Months$10,00.00

3-Year CD Rates

Banks and credit unions have the highest CD rates for 36 months.

Best 3-Year CD RatesRateTermMinimum
Credit Human4.65% APY36 Months$500.00
Hughes Federal Credit Union4.97% APY36 Months$99,000.00
Crescent Bank4.80% APY36 Months$1,000.00

4-Year CD Rates

The following banks and credit unions have the highest CD rates for 48 months.

Best 4-Year CD RatesRateTermMinimum
Eastman Credit Union4.65% APY48 Months$1,000.00
NexBank4.45% APY48 Months$10,000.00
Credit Human4.65% APY48 Months$500.00

5-Year CD Rates

Banks and credit unions have the highest CD rates for 60 months.

Best 5-Year CD RatesRateTermMinimum
First National Bank of America4.50% APY60 Months$1,000.00
Eastman Credit Union4.75% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

Benefits of Fixed Annuities in Alaska

The Best Cd Rates In Alaska. The Best Fixed Annuity Rates In Alaska

Drawbacks of Fixed Annuities in Alaska

  • Fees and charges
  • Potential for lower returns than other investment options
  • Limited liquidity
  • Early withdrawal penalties
The Best Cd Rates In Alaska

Benefits of CDs in Alaska

The Best Fixed Annuity Rates In Alaska

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.

What Are The Best Fixed Annuity Rates In Alaska

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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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