The Best Fixed Annuity and CD Rates in Indiana (September 2023)

Shawn Plummer

CEO, The Annuity Expert

Welcome to our comprehensive guide, meticulously curated to help Indiana (IN) residents, especially around Indianapolis, grow their money through strategic savings and investments. The Hoosier State isn’t just known for its friendly communities and picturesque landscapes; it also boasts a diverse range of financial institutions offering some of the best opportunities for savings and investment. Our guide navigates the landscape of online CD rates, revealing current savings account interest rates that make your money work harder. We also shed light on the best money market rates today and delve into fixed annuity rates, valuable tools for achieving your financial goals. Whether you’re more inclined towards traditional banks, credit unions, or the ease and accessibility of online platforms, our guide is geared to assist you in understanding and locating the best interest rates to optimize your financial growth. So, let’s set sail on this financial journey together!

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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.

TermInsurance CompanyAPY
N/AMoney Market Account – Optimum Bank5.26%
N/AMoney Market Account – FVC Bank5.26%
N/ASavings Account – CloudBank 24/7 5.26%
12 MonthsBread Savings CD5.50%
48 MonthsClear Spring Fixed Annuity5.15%
5 YearsAthene Fixed Annuity5.30%
10 YearsEquitrust Fixed Annuity6.00%
*Fixed annuities are only for saving money to use in retirement.

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.

Find And Compare The Highest Interest Rates

Find the highest interest rates for your savings, ranging from 3 months to 10 years, all in one place.

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

  • 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

3-Month CD Rates

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

Best 3-Month CD RatesRateTermMinimum
Ponce Bank5.30% APY3 Months$1.00
Oklahoma State Bank5.35% APY3 Months$1.00
Western Alliance Bank5.21% 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
Western Alliance Bank5.41% APY6 Months$1.00
Oklahoma State Bank5.40% APY6 Months$1.00
Generations Bank5.41% APY6 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 RatesRateTermMinimum
Western Alliance Bank5.51% APY12 Months$1.00
Bread Savings5.50% APY12 Months$1,500.00
Connexus Credit Union5.50% APY12 Months$1.00

2-Year CD Rates

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

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union4.95% APY24 Months$1.00
Idabel National Bank4.90% APY24 Months$1.00
Bread Savings5.00% APY24 Months$1,500.00

3-Year CD Rates

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

Best 3-Year CD RatesRateTermMinimum
Valley Bank5.60% APY36 Months$500.00
Bread Savings4.75% APY36 Months$1,500.00
The State Exchange Bank4.70% APY36 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 RatesRateTermMinimum
Bread Savings4.50% APY48 Months$1,500.00
The State Exchange Bank4.50% APY48 Months$1.00
Barclays4.45% APY48 Months$0.00

5-Year CD Rates

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

Best 5-Year CD RatesRateTermMinimum
Bread Savings4.50% APY60 Months$1,500.00
Barclays4.50% APY60 Months$0.00
The State Exchange Bank4.35% APY60 Months$1.00

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 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

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

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

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