The Best Fixed Annuity and CD Rates in Washington (September 2023)

Shawn Plummer

CEO, The Annuity Expert

Set against the breathtaking backdrop of Washington State, from the bustling heart of Seattle to the scenic beauty of Spokane and Vancouver, opportunities for financial growth are as diverse as the landscape itself. This comparison is your guide to shopping and comparing the state’s best CD account rates, highest savings interest rates, money market highest interest rates, and rates on fixed annuities. Whether you’re navigating the financial waters with established banks, engaging with community-rooted credit unions, or sailing the swift currents of online banking, our mission is to chart your course toward robust savings growth. By shedding light on the often-murky depths of interest rates, we empower you to explore WA’s financial ecosystem with confidence and purpose. Embark on this journey with us, and watch your savings soar like the majestic Mount Rainier.

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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.

TermInsurance CompanyAPY
N/AMoney Market Account – Optimum Bank5.26%
N/AMoney Market Account – FVC Bank5.26%
N/ASavings Account – CloudBank 24/7 5.26%
12 MonthsBread Savings CD5.50%
48 MonthsClear Spring Fixed Annuity5.15%
5 YearsAthene Fixed Annuity5.30%
10 YearsEquitrust Fixed Annuity6.00%
*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.

Find And Compare The Highest Interest Rates

Find the highest interest rates for your savings, ranging from 3 months to 10 years, all in one place.

What Are Fixed Annuities And CD Rates?

Fixed annuities and CD rates are two popular investment options that offer a fixed rate of return. Fixed annuities are insurance products that guarantee a fixed rate of return over a specified period, while CD rates are interest-bearing deposits with a fixed term and interest rate. Both options provide a low-risk investment opportunity, making them ideal for those seeking stability and security in their investments.

How Do Fixed Annuities And CD Rates Compare?

When comparing fixed annuities and CD rates, several key factors include the term length, interest rate, and the type of interest rate offered. For example, fixed annuities typically offer a longer term, while CD rates are shorter. Additionally, fixed annuities typically offer a higher interest rate than CD rates, although the exact amount will depend on the specific product and the current interest rate environment.

Advantages And Disadvantages Of Fixed Annuities And CD Rates

Both fixed annuities and CD rates have their unique advantages and disadvantages. Fixed annuities offer a guaranteed return and a longer-term rate, making them an ideal choice for stability and security in their investments. On the other hand, CD rates offer a lower rate of return but more flexibility and liquidity, making them ideal for those looking for short-term investments or who may need access to their funds sooner.

The Best Fixed Annuity Rates In Washington

Fixed annuities are insurance products that offer a predetermined rate of return for an agreed-upon period, ensuring stability and reliability.

Disclaimer: Products are subject to state availability. Please inquire below for details.

The Best CD Rates In Washington

Certificates of Deposit (CDs) are a safe, interest-accruing investment with a pre-agreed term and rate.

3-Month CD Rates

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

Best 3-Month CD RatesRateTermMinimum
Ponce Bank5.30% APY3 Months$1.00
Oklahoma State Bank5.35% APY3 Months$1.00
Western Alliance Bank5.21% 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
Western Alliance Bank5.41% APY6 Months$1.00
Oklahoma State Bank5.40% APY6 Months$1.00
Generations Bank5.41% APY6 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 RatesRateTermMinimum
Western Alliance Bank5.51% APY12 Months$1.00
Bread Savings5.50% APY12 Months$1,500.00
Connexus Credit Union5.50% APY12 Months$1.00

2-Year CD Rates

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

Best 2-Year CD RatesRateTermMinimum
Connexus Credit Union4.95% APY24 Months$1.00
Idabel National Bank4.90% APY24 Months$1.00
Bread Savings5.00% APY24 Months$1,500.00

3-Year CD Rates

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

Best 3-Year CD RatesRateTermMinimum
Valley Bank5.60% APY36 Months$500.00
Bread Savings4.75% APY36 Months$1,500.00
The State Exchange Bank4.70% APY36 Months$1.00

4-Year CD Rates

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

Best 4-Year CD RatesRateTermMinimum
Bread Savings4.50% APY48 Months$1,500.00
The State Exchange Bank4.50% APY48 Months$1.00
Barclays4.45% APY48 Months$0.00

5-Year CD Rates

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

Best 5-Year CD RatesRateTermMinimum
Bread Savings4.50% APY60 Months$1,500.00
Barclays4.50% APY60 Months$0.00
The State Exchange Bank4.35% APY60 Months$1.00

Next Steps

When investing your money, making the right decision is essential. If you live in Washington, you can compare the rates offered by fixed annuities and CDs to make an informed decision. Ultimately, the decision is up to you and what fits your individual goals. It’s also important to remember that with different investments come different risks. Ensure you understand all the potential risks associated with each investment to make a confident decision.

We at The Annuity Expert are happy to help you along your investment journey. Our team offers professional assistance and can provide a personalized quote tailored to your financial goals. Contact us today for more details—we’re always here to help!

The Best Fixed Annuity And Cd Rates In Washington State (Wa)

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Disclaimer: I may receive a small referral fee if you purchase something using a link in this guide.

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

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

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