From the historic city of Richmond to the picturesque coastlines of Chesapeake Bay, Virginia presents a rich landscape of opportunities for growing your savings. This guide is your roadmap, guiding you as you shop and compare the best bank CD rates, online savings account rates, money market bank rates, and fixed annuity interest rates across the Old Dominion. Whether your funds are housed in traditional banks, community-based credit unions, or convenience-focused online banking platforms, our mission is to illuminate Virginia’s financial scene, equipping you with the knowledge to navigate interest rates and augment your savings effectively. By simplifying the complexities of Virginia’s diverse financial terrain, this guide embarks you on a fulfilling journey towards enhanced wealth accumulation in VA.
The Best Fixed Annuity Rates In Virginia
A fixed annuity is an investment that provides a guaranteed interest rate for a set period. Insurance companies typically offer them and are backed by their financial strength and stability. Fixed annuities are a popular option for retirees and those approaching retirement, as they offer a predictable source of income that can last for the rest of their lives.
Disclaimer: Products are subject to state availability. Please inquire below for details.
The Best CD Rates In Virginia
A CD, or certificate of deposit, is a savings account banks and credit unions offer. They offer a guaranteed return on investment for a set period, usually from 3 months to 5 years. CDs are a low-risk investment option and a popular choice for those looking to grow their savings while earning a guaranteed return.
3-Month CD Rates
Banks and credit unions have the highest CD rates for three months.
| Best 3-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Signature Federal Credit Union | 5.55% APY | 3 Months | $500.00 |
| Western Alliance Bank | 5.51% APY | 3 Months | $1.00 |
| Ponce Bank | 5.40% 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 |
|---|---|---|---|
| TotalDirectBank | 5.76% APY | 6 Months | $25,000.00 |
| Franklin Mint Federal Credit Union | 5.60% APY | 6 Months | $500.00 |
| Western Alliance | 5.70% 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 |
|---|---|---|---|
| My eBanc | 5.77% APY | 12 Months | $50,000.00 |
| Popular Direct | 5.67% APY | 12 Months | $10,00.00 |
| State Bank of Texas | 5.85% APY | 12 Months | $50,000.00 |
2-Year CD Rates
Banks and credit unions have the highest CD rates for 24 months.
| Best 2-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Luana Savings Bank | 5.63% APY | 24 Months | $100,000.00 |
| Maple Mark Bank | 5.40% APY | 24 Months | $25,000.00 |
| Newtek Bank | 5.60% APY | 24 Months | $50,000.00 |
3-Year CD Rates
Banks and credit unions have the highest CD rates for 36 months.
| Best 3-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| U.S. Senate Federal Credit Union | 5.23% APY | 36 Months | $200,000.00 |
| Mountain Credit Union | 5.03% APY | 36 Months | $2,500.00 |
| Bread Savings | 4.90% APY | 36 Months | $1,500.00 |
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 | 4.50% APY | 48 Months | $1,500.00 |
| The State Exchange Bank | 4.50% APY | 48 Months | $1.00 |
| Barclays | 4.45% APY | 48 Months | $1.00 |
5-Year CD Rates
Banks and credit unions have the highest CD rates for 60 months.
| Best 5-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Farmers Insurance | 5.00% APY | 60 Months | $1,000.00 |
| Barclays | 4.50% APY | 60 Months | $0.00 |
| Bread Savings | 4.50% APY | 60 Months | $1,500.00 |
Compare The Best Fixed Annuity and CD Rates in Virginia:
When comparing fixed annuity and CD rates in Virginia, there are several factors to consider, including:
- Financial stability of the company offering the investment
- Guaranteed return on investment
- Length of the investment term
- Fees
- Early withdrawal penalties
Next Steps
In conclusion, navigating Virginia’s fixed annuities and CD rates is complex. But it doesn’t have to be complicated! This comprehensive guide lets you compare your options and make an informed decision that meets your financial goals. Everyone’s situation varies greatly, so if you think a fixed annuity or CD may be right for you but aren’t sure which option to pick, it’s best to seek professional advice. Our team of financial professionals is standing by to answer any questions you may have and provide a free quote. Contact us today to get started!
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