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

Shawn Plummer

CEO, The Annuity Expert

Navigating the financial landscape of Massachusetts, from the historic streets of Boston to the picturesque shores of Cape Cod, requires a keen understanding of the local investment climate. This comparison is your essential guide, helping you shop and compare the best and highest CD rates, money market rates, fixed annuity rates, and savings account interest rates across MA. Whether your preferences lie with established banks, community-based credit unions, or the modern convenience of online platforms, we’ve got you covered. We aim to simplify the process, offering a breakdown of the most competitive options available to grow your savings. With this guide, you’ll make sense of Massachusetts’s diverse interest rates and learn to leverage them effectively to optimize your 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 CD5.60%
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.

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.

Disclaimer: Products are subject to state availability. Please inquire below for details.

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.

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 Savings5.60% 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 Savings5.15% 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 Savings4.85% 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 Savings4.65% 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 Savings4.65% 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 Massachusetts (Ma)

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 consider the length of the term, the rate of interest, and the financial institution’s stability. 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 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 hesitate to take that extra step when deciding.

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.

The Best Fixed Annuity Rates And The Best Cd Rates In Massachusetts.

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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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