The Best Fixed Annuity and CD Rates in Indiana (May 2024)

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Our Favorite Rates To Grow Your Money

TermSavings AccountInstitutionAPY
N/AMoney Market AccountUncle Credit Union5.23%
N/ASavings AccountNexBank5.26%
12 MonthsCDBread Savings5.25%
5 YearsFixed AnnuityWichita National6.30%

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 Indiana

A fixed annuity is a contract between you and an insurance company. You provide a lump sum of money, and the insurance company guarantees to pay you a fixed interest rate over a specified period.

Benefits of a Fixed Annuity

Drawbacks of a Fixed Annuity

  • Limited growth potential
  • Surrender charges for early withdrawal
  • Restrictions on accessing funds

Disclaimer: Products are subject to state availability. Please inquire below for details.

The Best CD Rates In Indiana

A CD is a low-risk investment option offered by banks and credit unions. With a CD, you deposit a lump sum of money for a specified period, usually from one month to five years. In return, the bank or credit union agrees to pay you a fixed interest rate. CDs are FDIC-insured, so your investment is guaranteed up to $250,000.

Benefits of a CD

Drawbacks of a CD

  • Limited growth potential
  • Penalties for early withdrawal
  • Access to funds may be restricted

3-Month CD Rates

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

Best 3-Month CD RatesRateTermMinimum
NexBank4.75% APY3 Months$250,000.00
Total Direct Bank5.51% APY3 Months$25,000.00
Peoples Bank5.30% APY3 Months$500.00

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
Newtek Bank5.55% APY6 Months$2,500.00

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$250,000.00
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 Bank5.00% 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
Lafayette Federal Credit Union4.52% APY36 Months$500.00

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 America4.55% APY60 Months$1,000.00
Eastman Credit Union4.75% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

How to Compare The Best Fixed Annuity and CD Rates in Indiana

When comparing fixed annuity and CD rates, it’s essential to consider several factors, including:

To find the best-fixed annuity and highest CD rates in Indiana, you can start by searching online for financial institutions in your area. It’s also good to compare rates from multiple institutions to ensure you get the best deal.

Next Steps

If you’re a resident of Indiana looking to grow your savings, you may want to consider investing in a fixed annuity or CD. Both options offer great rates and can help you reach your financial goals.

To learn more about fixed annuities and CDs, contact us today. We’ll happily answer any of your questions and provide you with a quote.

The Best Fixed Annuity And Cd Rates In Indiana (In)

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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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