As you traverse Iowa’s fertile financial terrain, from the sprawling fields of corn to the bustling city life of Des Moines, you’ll discover abundant opportunities to grow your savings. This comparison acts as your compass, guiding you as you shop and compare the best CD rates in 2023, savings accounts with high-interest rates, money market fund rates, and fixed annuities available across Hawkeye State. Whether your funds are nestled in established banks, community-based credit unions, or the convenient realm of online platforms, our mission is to illuminate your journey toward financial prosperity. We aim to untangle the complexities of Iowa’s financial landscape, equipping you with the knowledge to maximize interest rates and efficiently enhance your savings. With this guide, exploring Iowa’s financial landscape becomes less daunting and more of an exciting exploration of financial growth.
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 Fixed Annuity Rates In Iowa
If you’re looking for the best fixed annuity rates in Iowa, comparing rates from multiple providers is crucial. When comparing annuity rates, consider any fees or charges associated with the product and the provider’s financial stability. Some of the top annuity providers in Iowa include:
Disclaimer: Products are subject to state availability. Please inquire below for details.
The Best CD Rates In Iowa
Consider checking rates at local banks, credit unions, and online banks for the best CD rates in Iowa. When shopping for CD rates, compare the interest rate and the term length to find the product that best fits your investment goals.
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 |
Understanding Fixed Annuities and CDs
Fixed annuities are a type of insurance product that provides a guaranteed return on investment over a set period of time.
On the other hand, CDs are savings products banks and credit unions offer. They offer a guaranteed return on investment over a set term, typically three months to five years. In addition, CDs are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor per institution, making them a low-risk investment option.
Benefits of Investing in Fixed Annuities and CDs in Iowa
Fixed annuities and CDs offer several key benefits, including:
- Guaranteed return on investment
- Low-risk investment option
- Potential for higher returns than savings accounts
- Tax-deferred growth (for annuities)
By investing in a fixed annuity or CD, you can enjoy the peace of mind that comes with knowing your investment is secure while potentially earning a higher return on your money than you would with a traditional savings account.
Next Steps
Overall, fixed annuities and certificates of deposit are two intelligent, secure investment options for Iowa residents looking to grow their nest egg. Annuities offer a guaranteed return on your money, while CDs allow you to use compounding interest on your savings. With this information about Iowa’s best-fixed annuities and CD rates, you can decide which financial product is best for you.
At The Annuity Expert, we understand that making decisions about your future is a big responsibility, and we’re here to help. Our team of experts has extensive knowledge on the topic and can answer any questions you may have. With our unbeatable customer service, quality assurance, fast processing times, and competitive rates, we are the perfect choice for anyone looking to invest in their future security. Contact us today for a quote!
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.