Here’s Who Has 6% CD Rates In May 2024

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Are There 6% CD Rates Available Today?

Yes, you can’t get 6% on a CD now. As of May 20, 2024, the Financial Partners Credit Union is offering 6.00% APY on their CD rates for 8 months. The minimum deposit is $1,000.00, up to a $5,000 maximum.

An Alternative To Getting 6% Interest

Wichita National Life Insurance Company’s fixed annuity rate guarantees 6.30% for five years. The growth is tax-deferred instead of taxed each year, which means triple-compounding! Inquire below for more details.

Related Reading: What are the best CD interest rates today?

6% Cd Rates

Fixed Annuities Is The Best Alternative To 6% CD Rates.

Like CDs, a fixed annuity is an insurance contract guaranteeing a specific interest rate on the buyer’s contributions for a set time. Fixed annuities are ideal investments for people wanting to guarantee their premium and income while minimizing risk. Although the insurance policy does not provide inflation protection, a fixed annuity does offer other benefits that make it an attractive alternative to certificates of deposit.

Can You Get 6% On A Cd?

Are There Any 4% CD rates?

Yes. Bread Savings is offering 4.25% APY for 36 months. CD rates at a bank, credit union, online, or financial institution haven’t had interest rates this high in over a decade and are earning over four percent on average.

6% Cd Rates

Our Favorite Rates To Grow Your Money

TermSavings AccountInstitutionAPY
N/AMoney Market AccountUncle Credit Union5.23%
N/ASavings AccountNexBank5.26%
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.

3-Month CD Rates

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

Best 3-Month CD RatesRateTermMinimum
NexBank4.75% APY3 Months$250,000.00
Total Direct Bank5.51% APY3 Months$25,000.00
Peoples Bank5.30% APY3 Months$500.00

6-Month CD Rates

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

Best 6-Month CD RatesRateTermMinimum
Inova Federal Credit Union5.50% APY6 Months$200.00
My eBanc5.51% APY6 Months$50,000.00
Newtek Bank5.55% APY6 Months$2,500.00

1-Year CD Rates

The following banks and credit unions have the highest CD rates for 12 months.

Best 12-Month CD RatesRateTermMinimum
NexBank5.40% APY12 Months$250,000.00
State Bank of Texas5.40% APY12 Months$50,000.00
My eBanc5.41% APY12 Months$50,000.00

2-Year CD Rates

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

Best 2-Year CD RatesRateTermMinimum
Crescent Bank5.00% APY24 Months$1,000.00
Eastman Credit Union5.40% APY24 Months$100,000.00
NexBank4.80% APY24 Months$10,00.00

3-Year CD Rates

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

Best 3-Year CD RatesRateTermMinimum
Credit Human4.65% APY36 Months$500.00
Hughes Federal Credit Union4.97% APY36 Months$99,000.00
Lafayette Federal Credit Union4.52% APY36 Months$500.00

4-Year CD Rates

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

Best 4-Year CD RatesRateTermMinimum
Eastman Credit Union4.65% APY48 Months$1,000.00
NexBank4.45% APY48 Months$10,000.00
Credit Human4.65% 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
First National Bank of America4.55% APY60 Months$1,000.00
Eastman Credit Union4.75% APY60 Months$100,000.00
Virginia Credit Union4.48% APY60 Months$100,000.00

Next Steps

Request a quote below to see how much you can save on a fixed annuity. Fixed annuities have been paying out more than CD rates in the last ten years, and with interest rates still on the rise, it’s time to start looking into this investment option. For example, a 3-year fixed annuity could offer you as much as 4 percent interest each year, significantly more than what you would earn from a CD at most banks or credit unions. So don’t wait – get started today!

Where Can I Find 6% Cd Rates? (Six Percent Cd Rates)

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Frequently Asked Questions

Are there any 3% CD rates?

As of May 2024, several banks and credit unions offer 3% CD rates.

Which bank gives 7% interest on a savings account?

No bank offers 7% interest on a savings account. However, some insurance companies offer annuities with premium bonuses of up to 20% that can mimic a fixed interest and provide a higher rate of return.

Where can I get 6% interest?

Wichita National Life Insurance Company’s MYGA will offer 6.30% for five years.

Who has 7% CD rates?

As of May 2024, no banks or credit unions offer 7% CDs.

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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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