When investing your hard-earned money, it can be challenging to determine which option is best for you. Fixed annuities and certificates of deposit (CDs) are two popular investment options that offer fixed income. However, each has its own set of benefits and drawbacks. This guide will compare the best-fixed annuity interest rates with the best CD interest rates in Oregon to help you make an informed investment decision.
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 | Interest Rate |
|---|---|---|
| N/A | UFB Bank Savings Account | 5.02% |
| N/A | UFB Bank Money Market | 5.02% |
| 12 Months | Western Alliance Bank CD | 5.01% |
| 36 Months | Oceanview Fixed Annuity | 5.00% |
| 48 Months | Americo Fixed Annuity | 5.05% |
| 5 Years | Aspida Fixed Annuity | 5.50% |
| 6 Years | American National Fixed Annuity | 5.45% |
| 10 Years | American National Fixed Annuity | 5.45% |
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.
The Best Fixed Annuity Rates In Oregon
Fixed annuities are insurance products that provide a guaranteed income stream for a specific period. In exchange for a lump sum payment, the insurance company guarantees to pay a fixed interest rate for the length of the annuity contract. The fixed interest rate is usually higher than traditional savings accounts, making fixed annuities an attractive option for those looking for a secure source of income.
Advantages of Fixed Annuity Interest Rates in Oregon
- Guaranteed income: Fixed annuities offer a guaranteed stream of income (optional), which can provide peace of mind for those looking to secure their financial future.
- Tax benefits: Fixed annuities offer tax-deferred growth, meaning that the interest earned is not taxed until it is withdrawn. This can result in a higher return on investment over time.
- Safety: Fixed annuities are insured by the state, providing an added layer of protection for your investment.
Disadvantages of Fixed Annuity Interest Rates in Oregon
- Limited liquidity: Fixed annuities have limited liquidity, meaning that you may have to pay the penalty to withdraw your funds (above a penalty-free withdrawal) before the end of the annuity contract.
- Long-term commitment: Fixed annuities require a long-term commitment, which can be a drawback for those who prefer more flexibility in their investments.
Best CD Rates In Oregon
Certificates of deposit (CDs) are savings products banks and credit unions offer. They offer a fixed interest rate for a specific period, typically one month to five years. CDs are considered a low-risk investment option, as the interest rate is guaranteed for the length of the CD term.
Advantages of CD Interest Rates in Oregon
- Guaranteed interest rate: CDs offer a guaranteed interest rate, which provides stability and predictability for your investment.
- FDIC insured: CDs are insured by the Federal Deposit Insurance Corporation (FDIC), providing added protection for your investment.
- Short-term investment option: CDs offer a short-term investment option, making them a good choice for those who prefer a more flexible investment strategy.
Disadvantages of CD Interest Rates in Oregon
- Low returns: CD interest rates tend to be lower than other investment options, resulting in a lower return on investment.
- Penalty for early withdrawal: CDs typically impose a penalty for early withdrawal, which can be a drawback for those who may need to access their funds before the end of the term.
Next Steps
In conclusion, selecting the right fixed annuity or certificate of deposit can be daunting. That is why it is essential to research and compare the best-fixed annuity interest rates with the best CD interest rates in Oregon. Doing so will help ensure you make an informed decision when investing your hard-earned money.
If you need further assistance finding suitable options for your interests, our financial advisors are ready to answer any questions and advise on which plan might work best for you. With their expertise, we’re sure you’ll find the best option for your needs. Plus, with competitive rates and flexible terms available, we can help make sure that whatever plan you choose fits within your budget. So what are you waiting for? Contact us today for a free quote!
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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.