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

Shawn Plummer

CEO, The Annuity Expert

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.

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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.

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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 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
Best And Highest Cd, Annuity, Savings, Money Market Rates In Iowa

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!

The Best Fixed Annuity And Cd Rates In Iowa (Ia)

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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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