The Best Fixed Annuity and CD Rates in Virginia (April 2024)

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

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 RatesRateTermMinimum
Ponce Bank5.35% APY3 Months$1.00
Total Direct Bank5.42% APY3 Months$25,000.00
Western Alliance Bank5.26% 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
American Airlines Federal Credit Union5.50% APY6 Months$1,000.00
My eBanc5.49% 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
Broadway Bank5.60% APY12 Months$500,000.00
Nex Bank5.40% APY12 Months$25,000.00
Apple Federal Credit Union5.40% APY12 Months$500.00

2-Year CD Rates

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

Best 2-Year CD RatesRateTermMinimum
Mountain Credit Union5.00% APY24 Months$2,500.00
Eastman Credit Union5.40% APY24 Months$1,000.00
Credit Human4.75% 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 Union4.58% 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 Union4.15% 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
Quontic4.30% APY60 Months$500.00
Lafayette Federal Credit Union4.37% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

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!

The Best Fixed Annuity Rates In Virginia. The Best Cd Rates In Virginia.

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Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, 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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