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

Shawn Plummer

CEO, The Annuity Expert

From the serene stretches of North Carolina’s coastline to the bustling economic centers of Charlotte and Raleigh, the Tar Heel State offers abundant opportunities to grow your savings. This comparison is crafted to serve as your comprehensive guide, helping you shop and compare the best CD interest rates, highest savings interest rates, bank money market rates, and the latest fixed annuity rates available across NC. Whether your savings are entrusted to large banks, local credit unions, or easily accessible online platforms, we aim to smooth your path toward financial growth. We strive to simplify the complexities of North Carolina’s financial landscape, providing you with essential insights to optimize interest rates and effectively grow your savings. With this guide, making sense of North Carolina’s financial terrain will be less of a puzzle and more of an engaging journey toward financial stability and 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.

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Find the highest interest rates for your savings, ranging from 3 months to 10 years, all in one place.

The Best Fixed Annuity Rates In North Carolina

By investing a lump sum in a fixed annuity contract, you can guarantee yourself an attractive rate of return from the insurance company. Your money is invested, and any profits are used to pay you out at the predetermined interest rate for several years.

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

The Best CD Rates In North Carolina

A CD is a type of savings account offered by banks and credit unions that requires you to keep your money in the account for a set period, usually from one month to several years. In return for keeping your money in the account, the bank pays a fixed interest rate, guaranteed for the CD term. In addition, CDs are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor per bank.

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

Tips For Comparing Interest Rates In North Carolina

  • Compare terms: When comparing CD interest rates with fixed annuity interest rates, it’s essential to consider the length of the term. CDs typically have shorter terms, ranging from one month to several years, while fixed annuities can have terms that last for several years or even the annuity’s lifetime. But, again, consider your investment goals and risk tolerance when choosing the correct term.
  • Consider fees: Some fixed annuities may have fees, such as surrender charges or administrative fees, which can impact the overall return on your investment. Before deciding, fully understand any fees associated with a fixed annuity entirely.
  • Look at interest rate guarantees: Fixed annuities offer guaranteed interest rates, while CD interest rates can vary depending on market conditions. Consider the stability of a guaranteed interest rate when comparing fixed annuities with CDs.
  • Evaluate the insurance company or financial institution: The stability and financial health of the insurance company or financial institution offering the fixed annuity or CD are essential. Therefore, consider the insurance company’s rating, financial institution, and history before investing.
  • Consider flexibility: CDs typically have early withdrawal penalties, which can reduce your return on investment if you need to access your funds before the end of the term. Fixed annuities may also have penalties for early withdrawal, but some offer flexible options such as annuitization or withdrawal riders.
  • Seek advice from a professional: It can be helpful to speak with a financial advisor or insurance professional to understand the pros and cons of fixed annuities and CDs and to determine the best investment option for your specific needs.
Best And Highest Cd, Annuity, Savings, Money Market Rates In North Carolina

Next Steps

It is essential that when considering any financial investments, you thoroughly explore your options so you can make the best decision for yourself according to your circumstances and financial goals. Fixed annuities and CDs are great low-risk investment choices for those who want to save extra money in North Carolina.

It is essential to research what fees, interest rate guarantees, and length of terms different insurance companies and financial institutions offer to ensure you get the best rate. Fixed annuities and CDs can be excellent options if they fit within your personal risk comfort level.

Advisors at our firm are experts in North Carolina’s annuity rates and CD rates – we would be thrilled to help review your options if they suit your needs! To get an accurate quote on fixed annuities or CDs, please contact us today!

The Best Fixed Annuity And Cd Rates In North Carolina (Nc)

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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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