The Best Fixed Annuity and CD Rates in Mississippi (June 2023)

Shawn Plummer

CEO, The Annuity Expert

Investing your hard earned money is crucial, and finding the best investment option that aligns with your financial goals is essential. If you’re based in Mississippi, you might be interested in fixed annuities and CDs as investment options. Both of these investment options offer security and stability, but there are differences between the two that you should be aware of before making a decision. This guide will compare the best-fixed annuity and CD rates in Mississippi to help you choose the right investment option.

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/ACloudBank Savings Account5.05%
N/APonce Bank5.05%
12 MonthsBread Savings CD5.20%
24 MonthsIdabel National Bank5.05%
48 MonthsAmerico Fixed Annuity5.05%
5 YearsAmerico Fixed Annuity5.25%
10 YearsAmerican National5.45%
*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 article.

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The Best Fixed Annuity Rates In Mississippi

Below is a list of some of the best-fixed annuity rates in MS.

The Best CD Rates In Mississippi

Below is a list of some of the best CD rates in MS.

It’s important to note that these rates are subject to change, and you should compare the rates offered by different banks and insurance companies before making a decision.

What are fixed annuities and CDs?

A fixed annuity is a contract between you and an insurance company. You make a lump-sum payment or a series of payments, and in return, the insurance company guarantees to pay you a fixed amount of money in the future, usually during your retirement. Fixed annuities are popular with retirees and people looking for a guaranteed future income.

A certificate of deposit (CD) is a savings account with a fixed interest rate and a fixed term. You deposit for a specific period, usually three months to five years, and in return, the bank guarantees to pay you a fixed interest rate for that term. CDs are considered safe investments, as they are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor per bank.

Differences between fixed annuities and CDs

While both fixed annuities and CDs offer security and stability, there are differences between the two investment options:

  • Guaranteed income: Fixed annuities offer a guaranteed source of income in the future, whereas CDs offer a guaranteed interest rate for the deposit term.
  • Access to funds: Fixed annuities typically come with surrender charges if you withdraw funds before maturity. You can withdraw funds from a CD without penalty, but only after maturity.
  • Taxation: Interest earned from CDs is taxed as ordinary income, whereas annuity income may be taxed differently, depending on the type of annuity and how it was funded.
  • Investment size: Fixed annuities typically require a more significant investment size, whereas you can open a CD account with as little as $500.

Next Steps

In conclusion, investing money is essential for your financial future, and finding the right investment option can be difficult. Knowing the pros and cons of each and which will align best with your goals and objectives is essential for making an informed decision.

Fixed annuities provide a steady growth rate on more significant contributions, while CDs offer security but usually have higher interest rates than savings accounts. However, both appear to offer great rates for Mississippi investors.

If you still feel overwhelmed by either option, you might consider speaking to an experienced financial advisor or using our online quote tool to gain more information about both options. It’s never too late to secure your financial future; contact us today for a quote!

The Best Fixed Annuity And Cd Rates In Mississippi (Ms)

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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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