Massachusetts is home to a thriving financial market, with many institutions offering fixed annuity and CD rates. But with so many options, it can be not easy to know where to start when looking for the best rates. In this comparison, we’ll explore Massachusetts’s best-fixed annuity and CD rates and provide valuable tips for comparing them.
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.
Understanding Fixed Annuity Rates
Fixed annuity rates are interest rates insurance companies pay on fixed annuities. They are a type of investment in which you give an insurance company a lump sum of money, and they, in turn, agree to pay you a fixed interest rate over a set period.
Understanding CD Rates
On the other hand, CD rates are interest rates paid on certificates of deposit. CDs are similar to savings accounts in that you deposit a lump sum for a fixed period, and the bank agrees to pay you a fixed interest rate.
What to Look for in a Fixed Annuity or CD Rate
When comparing fixed annuity and CD rates, there are several factors to consider:
- The length of the term: The longer the term, the higher the rate.
- The rate of interest: The higher the rate, the more you’ll earn.
- The financial institution’s stability: Ensure the insurance company or bank is financially stable.
Comparing Fixed Annuity and CD Rates in Massachusetts
To compare fixed annuity and CD rates in Massachusetts, you’ll want to look at several different institutions. When comparing rates, be sure to take into account the length of the term, the rate of interest, and the stability of the financial institution. You may also consider any special promotions or bonuses the institution offers.
Next Steps
All in all, fixed annuities and CDs are great options for those looking to make sure their money works hard for them. Finding the best rates on products like these isn’t always easy, but with a bit of time and research; you can find the right option.
To get the most out of your investments, consider your options carefully, looking at not just the rate of return for a particular product but also the length of term and stability of the financial institution before investing. Although your hard-earned money is essential, don’t be afraid to take that extra step when making your decision.
If you still feel uncertain about where to start or need help navigating multiple offers and rates – contact us for a quote today. We understand how important it is to ensure you’re getting the best rate possible, so let us show you why more Massachusetts residents trust us with their financial decisions.
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