Charles Schwab Bank provides money-saving products, including competitive CD rates, money market, and savings accounts. This guide will compare the Charles Schwab Bank interest rates to CD, money market, and savings account rates from the USA’s top banks.
Let’s take a look!
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. Why settle for less than 1% on your money when you can earn 3% and liquidity?
| Term | Insurance Company | Interest Rate |
|---|---|---|
| 24 Months | Oceanview | 3.50% |
| 36 Months | Canvas Annuity | 4.30% |
| 48 Months | Oceanview | 4.10% |
| 60 Months | Americo | 4.20% |
| 72 Months | Americo | 4.30% |
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. Our goal is to help you find the highest interest rates for your retirement savings.
Charles Schwab Bank Savings Account Rates
| Type | Minimum Balance | APY |
|---|---|---|
| High-Yield Savings | $0.00 | 0.05% |
Charles Schwab Money Market Rates
| Minimum Investment | Yield |
|---|---|
| $0.01 | 0.03% |
| $1,000,000.00 | 0.03% |
Charles Schwab CD Rates
Compare the best high yield bank CDs money market rates from over 100 financial institutions across the United States.
| Term | Minimum Deposit | APY |
|---|---|---|
| 3 Month | $1,000.00 | 1.81% |
| 6 Month | $1,000.00 | 2.11% |
| 12 Month | $1,000.00 | 3.05% |
| 18 Month | $1,000.00 | 3.05% |
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: 3.50%
- 3-YEAR TERM: 4.30%
- 4-YEAR TERM: 4.15%
- 5-YEAR TERM: 4.30%
- 6-YEAR TERM: 4.30%
- 7-YEAR TERM: 4.50%
- Grow your money as fast as possible
- Principal protection
- The 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 a CD?
| Feature | Fixed Annuity | CD |
|---|---|---|
| Who Offers | Insurance Company | Banks |
| Premium Amounts | $2,500 to $1 Million | $500 – No Maximum |
| Terms | 2 Years to 20 Years | 3 Months to 7 Years |
| Guaranteed Interest Rates | Up to 4.50% | Up to 2.50% |
| Triple Compounding | Yes | No |
| Principal Protection | Yes | Yes |
| Can Lose Money? | No | No |
| Liquid After Term | 100% | 100% |
| How Are Gains Taxed? | Tax-Deferred | Taxed Annually |
| Annual Liquidity | Up to 10% Annually | No Liquidity |
| Who Protects My Money? | Insurance Company/SGA | FDIC |
| Accepts IRA | Yes | No |
| Accepts 401(k) | Yes | No |
| Death Benefit | Lump-Sum | Lump-Sum |
Are Annuities FDIC Insured?
Fixed annuities are not FDIC insured but 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 the 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 CD Rates Today
3 Month CD Rates
The following banks and credit unions have the highest CD rates for 3 months.
| Best 3-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Spectrum Federal Credit Union | 0.75% APY | 3 Months | $500.00 |
| Navy Federal Credit Union | 0.40% APY | 3 Months | $1,000.00 |
| Chevron Federal Credit Union | 0.75% APY | 3 Months | $500.00 |
| Popular Direct | 0.50% APY | 3 Months | $10,000.00 |
| Bethpage Federal Credit Union | 0.40% APY | 3 Months | $50.00 |
| SchoolsFirst Federal Credit Union | 0.40% APY | 3 Months | $20,000.00 |
| Consumers Credit Union | 0.35% APY | 3 Months | $250.00 |
| Synchrony Bank | 0.50% APY | 3 Months | $0 |
| Luana Savings Bank | 0.80% APY | 3 Months | |
| TotalDirect Bank | 0.65% APY | 3 Months | $25,000.00 |
| TIAA Bank | 0.35% APY | 3 Months | $1,000.00 |
6 Month CD Rates
| Best 6-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| CommunityWide FCU | 1.00% APY | 6 Months | $1.000.00 |
| Limelight Bank | 1.25% APY | 6 Months | $1,000.00 |
| Live Oak Bank | 1.10% APY | 6 Months | $2,500.00 |
| BMO Harris | 1.10% APY | 6 Months | $1,000.00 |
| Quontic Bank | 1.26% APY | 6 Months | $500.00 |
| Merrick Bank | 1.35% APY | 6 Months | $25,000.00 |
| PenFed Credit Union | 0.75% APY | 6 Months | $1,000.00 |
| NASA Federal Credit Union | 1.60% APY | 6 Months | $10,000.00 |
| TAB Bank | 1.55% APY | 6 Months | $1,000.00 |
| Synchrony Bank | 0.75% APY | 6 Months | $0.01 |
| Consumers Credit Union | 0.50% APY | 6 Months | $250.00 |
1 Year CD Rates
The following banks and credit unions have the highest CD rates for 12 months.
| Best 12-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| CommunityWide FCU | 1.25% APY | 12 Months | $1,000.00 |
| Limelight Bank | 1.80% APY | 12 Months | $1,000.00 |
| Bread Savings | 2.00% APY | 12 Months | $1,500.00 |
| Popular Direct | 1.85% APY | 12 Months | $10,000.00 |
| Connexus Credit Union | 2.26% APY | 12 Months | $5,000.00 |
| State Bank of Texas | 2.10% APY | 12 Months | $25,000.00 |
| Quontic Bank | 2.01% APY | 12 Months | $500.00 |
| First National Bank of America | 1.76% APY | 12 Months | $1,000.00 |
| PenFed Credit Union | 1.75% APY | 12 Months | $1,000.00 |
| Capital One | 1.50% APY | 12 Months | $0 |
| Marcus by Goldman Sachs | 1.40% APY | 12 Months | $500.00 |
| Discover | 1.50% APY | 12 Months | $2,500.00 |
| Sallie Mae Bank | 1.30% APY | 12 Months | $2,500.00 |
| Bethpage Federal Credit Union | 1.30% APY | 12 Months | $50.00 |
2 Year CD Rates
The following banks and credit unions have the highest CD rates for 24 months.
| Best 2-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Popular Direct | 2.30% APY | 24 Months | $10,000.00 |
| Bread Savings | 2.50% APY | 24 Months | $1,500.00 |
| Pentagon Federal Credit Union | 2.30% APY | 24 Months | $1,000.00 |
| Connexus Credit Union | 2.86% APY | 24 Months | $5,000.00 |
| Merrick Bank | 2.65% APY | 24 Months | $25,000.00 |
| Quontic Bank | 2.51% APY | 24 Months | $500.00 |
| Synchrony Bank | 1.90% APY | 24 Months | $0.01.00 |
| First National Bank of America | 2.25% APY | 24 Months | $1,000.00 |
| CommunityWide FCU | 1.70% APY | 24 Months | $1,000.00 |
3 Year CD Rates
The following banks and credit unions have the highest CD rates for 3 years.
| Best 3-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Popular Direct | 2.75% APY | 36 Months | $10,000.00 |
| Quontic Bank | 2.81% APY | 36 Months | $500.00 |
| Bread Savings | 2.75% APY | 36 Months | $1,500.00 |
| Pentagon Federal Credit Union | 2.60% APY | 36 Months | $1,000.00 |
| USAlliance Financial Credit Union | 3.25% APY | 36 Months | $500.00 |
| Connexus Credit Union | 3.01% APY | 36 Months | $5,000.00 |
| Merrick Bank | 2.85% APY | 36 Months | $25,000.00 |
| Synchrony Bank | 2.30% APY | 36 Months | $0.01% |
| First National Bank of America | 2.35% APY | 36 Months | $1,000.00 |
| Capital One | 2.30% APY | 36 Months | $0 |
| Marcus by Goldman Sachs | 2.30% APY | 36 Months | $500.00 |
| Discover | 2.20% APY | 36 Months | $2,500.00 |
| Bank5 Connect | 0.85% APY | 36 Months | $500.00 |
4 Year CD Rates
The following banks and credit unions have the highest CD rates for 4 years.
| Best 4-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Connexus Credit Union | 3.11% APY | 48 Months | $5,000.00 |
| Merrick Bank | 2.90% APY | 48 Months | $25,000.00 |
| BMO Harris | 2.55% APY | 48 Months | $1,000.00 |
| MYSB Direct | 2.80% APY | 48 Months | $500,00 |
| Popular Direct | 2.80% APY | 48 Months | $10,000.00 |
| Bread Savings | 2.80% APY | 48 Months | $1,500.00 |
| PenFed Credit Union | 2.60% APY | 48 Months | $1,000.00 |
| Synchrony Bank | 2.30% APY | 48 Months | $0.01 |
| First National Bank of America | 2.55% APY | 48 Months | $1,000.00 |
| CommunityWide FCU | 1.90% APY | 48 Months | $1,000.00 |
5 Year CD Rates
The following banks and credit unions have the highest CD rates for 5 years.
| Best 5-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 2.85% APY | 60 Months | $1,500.00 |
| Alliant Credit Union | 2.80% APY | 60 Months | $1,00.00 |
| Connexus Credit Union | 3.21% APY | 60 Months | $5,000.00 |
| Popular Direct | 2.85% APY | 60 Months | $10,000.00 |
| Merrick Bank | 3.00% APY | 60 Months | $25,000.00 |
| Quontic Bank | 2.85% APY | 60 Months | $500.00 |
| PenFed Credit Union | 2.85% APY | 60 Months | $1,000.00 |
| First National Bank of America | 2.80% APY | 60 Months | $1,000.00 |
| Capital One | 2.60% APY | 60 Months | $0 |
| Marcus by Goldman Sachs | 2.60% APY | 60 Months | $500.00 |
| Discover | 2.75% APY | 60 Months | 2.75% |
The Best Fixed Annuity Rates Today
| Company | Term | Rate | Withdrawals |
|---|---|---|---|
| Oceanview | 2 Years | 3.50% | 10% Annually |
| Canvas | 3 Years | 4.30% | 10% Annually |
| Oceanview Annuity | 4 Years | 4.10% | Interest Only |
| Canvas | 5 Years | 4.30% | 10% Annually |
| Americo | 6 Years | 4.30% | 5% Annually |
| Americo | 7 Years | 4.50% | 5% Annually |
Key Takeaway – Retirement Income Planning
Consider a deferred annuity with a lifetime income rider if you’re spending the interest from a CD or a fixed annuity to supplement your retirement income. These annuities would offer a guaranteed income for life (even if the annuity ran out of money), removing the concern of making your money last in retirement and running out of money.
Some lifetime income riders offer a retirement income that increases to keep up with inflation, help pay for long-term care expenses, and offer an enhanced death benefit to help your beneficiaries.
Related Reading
- Learn the differences and benefits between Fixed Annuities and Certificate of Deposits (CD).
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