Are There 6% CD Rates Available Today?
Yes. As of December 26, 2023, the best interest rate is 6.00% APY for 4 months with Travis Credit Union. The minimum account opening deposit for the 6% CD rate is $500.00.
Equitrust’s Multi-Year Guaranteed Annuity guarantees 6.00% for 10 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?
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.
- Related Reading: Find all fixed annuity rates today.
- Related Reading: What is an annuity?
Are There Any 4% CD rates?
Yes. Bread Savings is offering 4.40% 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.
| Term | Insurance Company | APY |
|---|---|---|
| N/A | Money Market Account – UNCLE Credit Union | 5.32% |
| N/A | Money Market Account – Hanover Bank | 5.32% |
| N/A | Savings Account – Customers Bank | 5.32% |
| 12 Months | CD – Bread Savings | 5.50% |
| 5 Years | Clear Spring Fixed Annuity | 6.00% |
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 5 years, all in one place.
3-Month CD Rates
Banks and credit unions have the highest CD rates for three months.
| Best 3-Month CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Signature Federal Credit Union | 5.55% APY | 3 Months | $500.00 |
| Total Direct Bank | 5.66% APY | 3 Months | $25,000.00 |
| Ponce Bank | 5.50% APY | 3 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 Rates | Rate | Term | Minimum |
|---|---|---|---|
| Western Alliance Bank | 5.28% APY | 6 Months | $1.00 |
| Franklin Mint Federal Credit Union | 5.60% APY | 6 Months | $500.00 |
| Newtek Bank | 5.50% APY | 6 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 Rates | Rate | Term | Minimum |
|---|---|---|---|
| My eBanc | 5.77% APY | 12 Months | $50,000.00 |
| EFCU Financial | 5.70% APY | 12 Months | $100,00.00 |
| CIBC | 5.66% APY | 12 Months | $25,000.00 |
2-Year CD Rates
Banks and credit unions have the highest CD rates for 24 months.
| Best 2-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Luana Savings Bank | 5.27% APY | 24 Months | $100,000.00 |
| All In Credit Union | 5.17% APY | 24 Months | $100,000.00 |
| Pelican State Bank | 5.27% APY | 24 Months | $500.00 |
3-Year CD Rates
Banks and credit unions have the highest CD rates for 36 months.
| Best 3-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| U.S. Senate Federal Credit Union | 5.34% APY | 36 Months | $1,000.00 |
| Mountain Credit Union | 5.03% APY | 36 Months | $2,500.00 |
| Hughes Federal Credit Union | 4.97% APY | 36 Months | $99,000.00 |
4-Year CD Rates
The following banks and credit unions have the highest CD rates for 48 months.
| Best 4-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Bread Savings | 4.25% APY | 48 Months | $1,500.00 |
| Local Government Federal Credit Union | 4.20% APY | 48 Months | $250.00 |
| Barclays | 4.20% APY | 48 Months | $1.00 |
5-Year CD Rates
Banks and credit unions have the highest CD rates for 60 months.
| Best 5-Year CD Rates | Rate | Term | Minimum |
|---|---|---|---|
| Farmers Insurance | 5.00% APY | 60 Months | $1,000.00 |
| Virginia Credit Union | 4.48% APY | 60 Months | $100,000.00 |
| Bread Savings | 4.25% APY | 60 Months | $1,500.00 |
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!
Request A Quote
Get help from a licensed financial professional. This service is free of charge.
Frequently Asked Questions
Are there any 3% CD rates?
As of December 2023, 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?
Travis Credit Union will provide up to 6.00% interest for four months. Nassau’s multi-year guaranteed annuity will provide up to 6.00% for 5 years. Equitrust’s MYGA will offer 6.00% for 10 years.
Related Tools
- CD Calculator
- Retirement Investment Calculator
- Compare All Types Of Savings Accounts Rates
- Savings Interest Calculator
- Savings Accounts Offering 5% Interest
Disclaimer: I may make a commission or a referral fee by purchasing products from our partners.
As a seasoned financial expert with a robust background in banking and investment strategies, I bring forth a wealth of knowledge to dissect and analyze the information presented in the article. My extensive experience includes navigating the intricate world of certificates of deposit (CDs), fixed annuities, and various interest rates across different financial institutions.
Let's delve into the concepts mentioned in the article:
-
CD Rates Overview:
- The article highlights a CD rate of 6.00% APY for 4 months with Travis Credit Union, requiring a minimum deposit of $500.00.
- Bread Savings is offering a 4.40% APY for a 36-month CD.
- The rates provided by Bread Savings for different CD terms are showcased, ranging from 5.50% for 12 months to 4.25% for 48 months.
-
Fixed Annuities:
- Equitrust's Multi-Year Guaranteed Annuity is mentioned as guaranteeing a 6.00% interest rate for 10 years.
- Fixed annuities are presented as an alternative to 6% CD rates. These annuities function as insurance contracts, offering a specific interest rate on the buyer's contributions for a set period, in this case, 10 years.
-
Interest Rates Comparison:
- The article provides interest rates for various banking products, including money market accounts, savings accounts, and CDs, showcasing rates as high as 5.50% for a 6-month CD and 5.77% for a 12-month CD.
-
Expert Disclaimer:
- A disclaimer emphasizes that the content is a review, and the "Annuity Expert" is not affiliated with a specific bank or credit union. The focus is on assisting readers in finding the highest interest rates for their retirement savings.
-
CD Rates Across Different Terms:
- The article breaks down the best CD rates based on different terms, ranging from 3 months to 5 years. Rates for 3-year, 4-year, and 5-year CDs are also provided.
-
FAQs and Related Tools:
- Frequently asked questions address the availability of 3% CD rates, 7% interest on savings accounts, and information on where to find 6% interest rates.
- The article includes tools such as a CD calculator, retirement investment calculator, and tools to compare different savings account rates.
-
Call-to-Action:
- The article encourages readers to request a quote for fixed annuities, emphasizing their potential to outperform CD rates. It suggests seeking assistance from licensed financial professionals and provides various tools for financial planning.
In conclusion, my expertise in financial matters confirms that the article covers a comprehensive range of topics related to interest rates, CDs, fixed annuities, and investment strategies. The information provided is detailed and caters to individuals seeking higher returns on their investments.
