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

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

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.

Our Favorite Rates To Grow Your Money

TermSavings AccountInstitutionAPY
N/AMoney Market AccountUNCLE Credit Union5.26%
N/ASavings AccountCloudbank 2475.26%
12 MonthsCDBread Savings5.25%
5 YearsFixed AnnuityWichita National6.30%

Disclaimer: This is a comparison review. The Annuity Expert is not associated with a bank or credit union. We aim to help you find the highest interest rates for your savings. We may receive a small referral fee if you purchase something using a link in this guide.

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 Bank5.25% 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

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, 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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