From the lush plains of Kansas to the vibrant streets of Kansas City, the Sunflower State is a fertile ground for opportunities to grow your savings. This comparison is your compass, assisting you in shopping and comparing the high CD rates at banks, best bank savings interest rates, best money market bank rates, and guaranteed interest rate annuity available across KS. Whether your nest egg lies with established banks, community credit unions, or the convenient digital world of online banking, we aim to guide your journey toward financial abundance. We’re here to decode the complexities of Kansas’s financial landscape, providing you with the crucial insights needed to optimize interest rates and successfully bolster your savings. With this guide, exploring Kansas’s diverse financial terrain becomes less of a task and more of an exciting journey to financial security and 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 | 5.60% |
| 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 Kansas
Fixed annuities are investment products that offer a fixed rate of return for a set period. Unlike other types of investments, fixed annuities are not subject to market fluctuations, making them a popular choice for conservative investors.
Disclaimer: Products are subject to state availability. Please inquire below for details.
The Best CD Rates In Kansas
A CD (Certificate of Deposit) is ideal if you’re looking for a safe and secure investment. A CD offers guaranteed returns at fixed rates over set periods, plus the FDIC backs it – so your money will always be protected!
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 | 5.60% 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 | 5.15% 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 | 4.85% 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 | 4.65% 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 | 4.65% 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 |
Pros and Cons of Fixed Annuities:
Fixed annuities offer several benefits, including:
- Guaranteed income: Fixed annuities offer a guaranteed income stream, making them a reliable source of retirement income.
- Safety: Fixed annuities are generally considered safe investments, as they are not subject to market fluctuations.
- Tax-deferred growth: Your investment in a fixed annuity is tax-deferred, allowing your money to grow more quickly.
However, there are also some drawbacks to consider, such as:
- Low returns: Fixed annuities typically offer lower returns than other investments.
- Early withdrawal penalties: If you need to withdraw funds from your fixed annuity before the end of the contract, you may be subject to early withdrawal penalties.
Pros and Cons of CDs:
CDs offer several benefits, including:
- Guaranteed returns: CDs offer a guaranteed rate of return, making them a reliable source of income.
- Safety: CDs are insured by the FDIC, making them a safe investment option.
- Predictable returns: The rate of return on a CD is fixed, making it easier to predict earnings.
However, there are also some drawbacks to consider, such as:
- Low returns: CDs typically offer lower returns than other investments.
- Penalties for early withdrawal: If you need to withdraw funds from your CD before the end of the term, you may be subject to early withdrawal penalties.
Next Steps
Kansas offers a great economic climate for investments and savings, including fixed annuities and CDs. As we’ve seen in this guide, these investment options have benefits and drawbacks, and you’ll want to weigh them carefully as you decide what’s best for your finances. We hope we have helped you learn more about Kansas’s top providers and the various types of annuities and CDs offered. Ultimately, it is essential to research a financial product, so make sure you know about all the aspects of any investment you choose. If you are unsure or need more advice on finding the best opportunities in Kansas, please don’t hesitate to contact us 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.