Aloha! Welcome to our comprehensive guide designed to help you navigate the sun-kissed financial waters of Hawaii (HI). In this guide, we’ll take you through shopping and comparing the best online CD rates and the highest interest rates on savings accounts available in Aloha State. But we don’t stop there. We’ll also dive into the tropical pool of the best bank money market rates and shed light on the reliable, long-term returns of fixed annuities with guaranteed rates. Whether your allegiance lies with traditional banks, community-centric credit unions, or the convenience of online platforms, we will help you find the optimal interest rates to grow your money. Embrace the Hawaiian spirit of “pono” (making the right choice) as you journey towards a prosperous financial future. Welcome aboard!
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 CD Rates In Hawaii
CDs are low-risk investments that offer a fixed rate of return for a specified period of time. When you invest in a CD, you deposit a certain amount of money into an account, and in return, you receive a guaranteed interest rate for a set period.
The best CD rates in Hawaii vary based on several factors, including the length of the term, the type of CD, and the financial institution offering the CD. Here are some of the most popular CD options in Hawaii:
- Short-term CDs: These CDs typically have a term of less than one year and offer a lower interest rate. They are ideal for those who want to invest less money and are looking for a short-term investment option.
- Long-term CDs: These CDs have a term of five years or more and offer a higher interest rate. They are ideal for those looking for a long-term investment option and willing to tie up their money for a more extended period.
- Jumbo CDs: These CDs require a large minimum deposit and offer a higher interest rate. They are ideal for those with a lot of money to invest and looking for a higher return.
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 |
Maximizing Your CD Returns in Hawaii
To maximize your CD returns in Hawaii, you’ll want to shop around and compare the interest rates different financial institutions offer. You can compare CD rates online or visit local banks and credit unions for more information about their options.
It’s also important to consider the length of the term when investing in a CD. The longer the term, the higher the interest rate will be. However, you’ll also need to consider the opportunity cost of tying up your money for longer.
Finally, you may want to consider laddering your CDs. This involves investing in CDs with different terms so that when one CD matures, you can reinvest the funds into another CD with a longer term and higher interest rate. This can help you earn a higher return on your investment over time.
The Best Fixed Annuity Rates In Hawaii
Fixed annuities are investment products that offer a guaranteed rate of return for a specified period of time. When you invest in a fixed annuity, you make a lump sum payment, and in return, you receive a guaranteed rate of return for a fixed period, typically ranging from five to 20 years.
The best fixed annuity rates in Hawaii vary based on several factors, including the length of the term, the type of annuity, and the financial institution offering the annuity. Here are some of the most popular fixed annuity options in Hawaii:
Disclaimer: Products are subject to state availability. Please inquire below for details.
Next Steps
In conclusion, investing in CDs and fixed annuities can offer Hawaii investors the retirement funds they need while offering low-risk returns. We hope this guide has been useful in helping you to make an informed decision when it comes to investing in CDs or fixed annuities. With access to some of the best CD and fixed annuity rates in Hawaii, you can know that your money is safe and secure while building your wealth over time. If you have any additional questions or want a personal quote, please don’t hesitate to contact us today. We’re here to help you build a bright financial future for yourself and your family. Investing wisely now will pay off tomorrow!
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