From the lively buzz of Oklahoma City to the windswept plains, Oklahoma is more than just a beautiful slice of the American Heartland. It’s a region rich with financial opportunities for those keen to capitalize on their savings. This comprehensive guide is your resource to shop and compare Oklahoma’s best current CD rates, banks offering high savings interest rates, and the best interest rates on money market accounts. We’ll also spotlight the interest rates of deferred fixed annuities in this diverse financial landscape. Whether you prefer the complete services of traditional banks, the community-focused offerings of credit unions, or the convenience of online platforms, we aim to help grow your savings. By demystifying interest rates and bringing the best financial products in OK to your fingertips, we are committed to empowering you to bolster your financial future in the Sooner State. So, buckle up and prepare for a deep dive into your prosperous financial journey in Oklahoma!
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 Oklahoma
The best-fixed annuity rates in Oklahoma vary based on the insurance company, the length of the annuity contract, and the type of annuity purchased. As a general rule, longer-term annuities tend to offer higher rates of return, but this is not always the case. When searching for the best-fixed annuity rates in Oklahoma, it’s essential to compare several different insurance companies and their annuity products to find the best option for your needs.
Disclaimer: Products are subject to state availability. Please inquire below for details.
The Best CD Rates In Oklahoma
The best CD rates in Oklahoma vary based on the bank, the CD term length, and the deposit amount. As a general rule, longer-term CDs offer higher rates of return, but this is not always the case. When searching for the best CD rates in Oklahoma, it’s essential to compare several different banks and their CD products to find the best option for your needs.
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 |
Comparing Fixed Annuity Interest Rates with CD Interest Rates in Oklahoma
When comparing fixed annuity interest rates with CD interest rates in Oklahoma, there are several factors to consider, including the length of the investment term, the amount of the deposit, and the financial institution’s stability. Additionally, it’s essential to consider the tax implications of each investment option, as annuity interest payments are taxed differently than CD interest payments.
Here are some of the key differences between fixed annuities and CDs:
- Investment term: Fixed annuities typically have longer investment terms, while CDs have shorter investment terms.
- Liquidity: Fixed annuities have limited liquidity, meaning investors can withdraw the interest or a certain percentage annually without penalty. CDs, however, are not very liquid, and the investor may have to pay the penalty to withdraw their investment before maturity.
- Taxation: Annuity interest is tax-deferred, while CD interest is taxed as interest income annually.
- Flexibility: CDs offer more flexibility in terms of deposit, while fixed annuities are more flexible regarding accessing funds.
- Financial stability: It’s essential to consider the stability of the financial institution offering the fixed annuity or CD, as well as its credit rating.
Next Steps
Making an informed investment decision for your future is a critical step in your financial journey. Fixed annuities and CDs provide you with the stability and reliability you seek, each with pros and cons. We’ve provided an overview of Oklahoma’s best-fixed annuity rates and CD rates to help make your decision-making process more manageable.
Whether you’re just starting or have been investing your entire life, it’s essential to research your options, review features and benefits, and choose the option that best suits your individual needs.
From talking to experts to understanding more about safe investment options, we can offer guidance on where to put your hard-earned money for maximum gain. Contact us for a quote today to get started on achieving greater financial freedom!
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.