The Best Fixed Annuity and CD Rates in Oklahoma (March 2024)

Shawn Plummer

CEO, The Annuity Expert

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!

The Best Rates To Grow Your Money

TermInsurance CompanyAPY
N/AMoney Market Account – Generations Bank5.29%
N/AMoney Market Account – American First Credit Union5.30%
N/ASavings Account – Customers Bank5.30%
12 MonthsCD – Bread Savings5.35%
5 YearsAnnuity – Wichita National6.30%
*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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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 RatesRateTermMinimum
Ponce Bank5.35% APY3 Months$1.00
Total Direct Bank5.66% APY3 Months$25,000.00
Western Alliance Bank5.36% 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
CommunityWide FCU5.50% APY6 Months$1,000.00
My eBanc5.51% APY6 Months$50,000.00
Newtek Bank5.55% APY6 Months$50,000.00

1-Year CD Rates

The following banks and credit unions have the highest CD rates for 12 months.

Best 12-Month CD RatesRateTermMinimum
Hudson Valley Credit Union5.67% APY12 Months$750.00
Space Coast Credit Union5.61% APY12 Months$500.00
Lafayette Federal Credit Union5.61% APY12 Months$100,000.00

2-Year CD Rates

Banks and credit unions have the highest CD rates for 24 months.

Best 2-Year CD RatesRateTermMinimum
Luana Savings Bank5.11% APY24 Months$100,000.00
Eastman Credit Union5.40% APY24 Months$1,000.00
Pelican State Bank5.27% APY24 Months$500.00

3-Year CD Rates

Banks and credit unions have the highest CD rates for 36 months.

Best 3-Year CD RatesRateTermMinimum
Mountain Credit Union5.15% APY36 Months$2,500.00
Hughes Federal Credit Union4.97% APY36 Months$99,000.00
Lafayette Federal Credit Union5.20% APY36 Months$100,000.00

4-Year CD Rates

The following banks and credit unions have the highest CD rates for 48 months.

Best 4-Year CD RatesRateTermMinimum
Bread Savings4.15% APY48 Months$1,500.00
NexBank4.45% APY48 Months$10,000.00
Fedchoice Federal Credit Union4.35% APY48 Months$500.00

5-Year CD Rates

Banks and credit unions have the highest CD rates for 60 months.

Best 5-Year CD RatesRateTermMinimum
Farmers Insurance4.25% APY60 Months$1,000.00
Lafayette Federal Credit Union4.63% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

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!

The Best Fixed Annuity And Cd Rates In Oklahoma (Ok)

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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