There are numerous options to choose from when it comes to saving and investing. Two popular options are fixed annuities and CDs (Certificates of Deposit). Both offer a fixed rate of return and a principal guarantee, making them attractive options for those seeking stability and security in their investments. In this guide, we’ll compare the best-fixed annuity and CD rates in Washington D.C., to help you make an informed 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 Washington D.C.
Fixed annuities are a type of investment product that offers a guaranteed rate of return. They are similar to CDs in that they provide a fixed rate of return but offer additional benefits such as tax-deferred growth and the potential for higher returns.
When shopping for a fixed annuity in Washington D.C., it’s essential to consider the following factors:
- The guaranteed rate of return
- Length of the annuity term
- Surrender charges
- Insurance company rating
The Best CD Rates in Washington D.C.
CDs, or Certificates of Deposit, are another popular investment option. They offer a fixed rate of return over a specified term and are FDIC insured, making them a safe and secure option for your savings.
When shopping for a CD in Washington D.C., it’s essential to consider the following factors:
- The guaranteed rate of return
- Length of the CD term
- FDIC insurance
- Early withdrawal penalties
Comparing Fixed Annuities and CDs in Washington D.C.
So, how do fixed annuities and CDs compare in Washington D.C.? Here are some key differences to consider:
- The guaranteed rate of return: Both fixed annuities and CDs offer a guaranteed rate, but fixed annuities may offer a higher rate due to their tax-deferred growth.
- Length of term: Fixed annuities typically have longer terms than CDs, with some annuities offering terms of 20 or more years. CDs typically have terms ranging from 6 months to 5 years.
- Liquidity: CDs offer more liquidity than fixed annuities, as they can be cashed in before the end of the term without penalty. Fixed annuities may have surrender charges if cashed in before the end of the term.
- Tax benefits: Fixed annuities offer tax-deferred growth, which means you won’t pay taxes on your investment earnings until you withdraw the funds. CDs are taxed annually on the interest earned.
Next Steps
All in all, fixed annuities and CDs are great options for those seeking stability and security in their investments. The best rate for you will depend on various factors – such as your risk tolerance, desired return on investment, and the amount you are willing to invest. In this guide, we provided an overview of the best-fixed annuity and CD rates available in Washington D.C. so that you can make an informed decision regarding investing your money. Whether you save with fixed annuities or CDs, it is essential to remember that all investments carry some risk.
Please be sure to speak with a qualified financial advisor before making any financial decisions. We wish you all the best in your savings venture and invite you to contact us today for a quote. Thank you for taking the time to read this guide!
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