The Best Bank Rates

Shawn Plummer

CEO, The Annuity Expert

Compare banks across the United States, including high yield savings accounts, CD rates, money market accounts, and fixed annuity rates. This guide includes credit unions, online banks, large financial institutions, and regional banks. Our mission to allow you to find the best-fixed rate high-yield savings account to grow your money in an easy, convenient way.

This guide is ideal for:

Investors will be able to sort by:

  • Annual Percentage Yield (APY) to find the best rate.
  • Financial Institution, Credit Unions, and Online Banks
  • Term of the CD (Short-term and long-term)
  • Use our annuity calculator to solve your rate of return.

The Best CD Rates At Banks and Credit Unions

Certificates of Deposit vs. Fixed Annuity

The Top Fixed Annuities

Fixed annuities offer a guaranteed return for a set amount of years, similar to a CD. Guaranteed crediting rates for the terms below:

  • 2 YEAR TERM: 2.15%
  • 3 YEAR TERM: 2.60%
  • 4 YEAR TERM: 2.75%
  • 5 YEAR TERM: 3.05%
  • 7 YEAR TERM: 3.25%
  • Grow your money as fast as possible
  • Principal protection
  • Interest rate is locked for the term you select
  • Tax deferred growth
  • Withdraw annually without penalty
  • Lump sum death benefits
  • Accepts cash, 401(k), and IRA Funds

What’s The Difference Between a Fixed Annuity and CD?

FeatureFixed AnnuityCD
Who OffersInsurance CompanyBanks
Premium Amounts$2,500 to $1 Million$500 – No Maximum
Terms2 Years to 20 Years3 Months to 7 Years
Guaranteed Interest RatesUp to 3.25%Up to 1.25%
Triple CompoundingYesNo
Principal ProtectionYesYes
Can Lose Money?NoNo
Liquid After Term100%100%
How Are Gains Taxed?Tax-DeferredTaxed Annually
Annual LiquidityUp to 10% AnnuallyNo Liquidity
Who Protects My Money?Insurance Company/SGAFDIC
Accepts IRAYesNo
Accepts 401(k)YesNo
Death BenefitLump-SumLump-Sum

Are Annuities FDIC Insured?

Fixed annuities are not FDIC insured, but they have similar protections for your money. An annuity is an insurance policy guaranteed by the insurance company’s claims-paying ability. The insurance companies are members of the state insurance guarantee associations in each state where they do business. Each state insurance guarantee association protects consumers in the unlikely event that their insurance company fails and defaults on their obligations to their consumers (limits vary per state).

For example, Georgia insures up to $250,000 of the annuity’s cash value per insured life if the insurance company becomes insolvent and can not fulfill its obligations to the insured.

The Best High Yield Savings Account Rates At Banks and Credit Unions

High Yield Savings Account

The Best Money Market Rates At Banks and Credit Unions

Money Market Rates

Learn the benefits and advantages of CDs and fixed annuities with our guide.

Compare the best-fixed annuity rates.

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

Best CD Rates By Term

3 Month CD Rates

Best 3-Month CD RatesRateTermMinimum
Spectrum Federal Credit Union0.50% APY3 Months$500.00
Navy Federal Credit Union0.40% APY3 Months$1,000.00
Chevron Federal Credit Union0.50% APY3 Months$500.00

6 Month CD Rates

Best 6-Month CD RatesRateTermMinimum
CommunityWide FCU0.70% APY6 Months$500.00
Lafayette Federal Credit Union 0.70% APY7 Months$500.00
Spectrum Federal Credit Union0.50% APY6 Months$500.00

1 Year CD Rates

Best 12 Month CD RatesRateTermMinimum
Lafayette Federal Credit Union 0.80% APY12 Months$5,000.00
CommunityWide FCU0.75% APY12 Months$1,000.00
Live Oak Credit Union0.65% APY12 Months$2,500.00

2 Year CD Rates

Best 2-Year CD RatesRateTermMinimum
Lafayette Federal Credit Union 0.90% APY24 Months$500.00
CommunityWide FCU0.80% APY24 Months$1,000.00
SILAC Fixed Annuity2.15% APY24 Months$10,000.00
Oceanview Fixed Annuity2.00% APY24 Months$20,000.00

3 Year CD Rates

Best 3-Year CD RatesRateTermMinimum
First National Bank of America1.00% APY36 Months$1,000.00
Lafayette Federal Credit Union 1.01% APY36 Months$500.00
Canvas Annuity*2.60% APY36 Months$2,500.00

4 Year CD Rates

Best 4-Year CD RatesRateTermMinimum
First National Bank of America1.10% APY48 Months$1,000.00
Lafayette Federal Credit Union 1.16% APY48 Months$500.00
Oceanview Fixed Annuity2.75% APY48 Months$20,000.00

5 Year CD Rates

Best 5-Year CD RatesRateTermMinimum
First National Bank of America 1.25% APY60 Months$1,000.00
Lafayette Federal Credit Union1.26% APY60 Months$500.00
Canvas Annuity*3.05% APY60 Months$2,500.00

Best CD Rates By State

Which Accounts Offers The Best Bank Rates?

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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