Are you a resident of Indiana looking to grow your savings? Have you considered investing in a fixed annuity or a certificate of deposit (CD)? If so, you’re in luck. Indiana offers some of the country’s best-fixed annuity and CD rates. In this comparison, we’ll explore these investment options in detail so that you can make an informed decision.
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 | Interest Rate |
|---|---|---|
| N/A | UFB Bank Savings Account | 5.02% |
| N/A | UFB Bank Money Market | 5.02% |
| 12 Months | Western Alliance Bank CD | 5.01% |
| 36 Months | Oceanview Fixed Annuity | 5.00% |
| 48 Months | Americo Fixed Annuity | 5.05% |
| 5 Years | Aspida Fixed Annuity | 5.50% |
| 6 Years | American National Fixed Annuity | 5.45% |
| 10 Years | American National Fixed Annuity | 5.45% |
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 article.
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
- The guaranteed rate of return
- Potential tax benefits
- Safe investment option
- Predictable income stream in retirement
Drawbacks of a Fixed Annuity
- Limited growth potential
- Surrender charges for early withdrawal
- Restrictions on accessing funds
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
- The guaranteed rate of return
- FDIC-insured
- Safe investment option
- Predictable interest payments
Drawbacks of a CD
- Limited growth potential
- Penalties for early withdrawal
- Access to funds may be restricted
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:
- The guaranteed rate of return
- Access to funds
- Potential for growth
- Surrender charges or penalties for early withdrawal
- Tax benefits
To find the best-fixed annuity and 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 be happy to answer any of your questions and provide you with a quote.
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.