ING pay a high interest rate to those interested in their investment vehicles, as high as 9% interest rates for a single premium fixed annuity rate. They also offer flexible premiums at different interest rates.
Yes, because a variable interest rate can go up as high as 9% APR when you can get a fixed APR of 3.5%. Also with variable interest your payments will always jump around and with fixed your payments are what you sign.
Most banks offer some sort of insurance on annuities, often at a yearly fee.
You can find them at any banks or financial advisors
Savings accounts with traditional banks typically do not have high interest rates. Banks such as Ally or ING Direct offer slightly higher interest rates that are approximately .75 to 1 percent.
They charge a much higher interest on loans than they pay on deposits.
Because they offer a higher rate of interest to their deposit customers. Loan Interest is the chief source of income for all banks & financial institutions. The difference in the rate of interest offered to deposit customers and loan customers is usually the profit a bank makes. Usually people prefer banks when compared to financial institutions to deposit their money. So to attract customers these institutions offer a higher rate of interest on deposits with them. In order to maintain their profit margin, they charge a higher rate of interest on their loan customers. So, higher the rate on deposits, higher is the rate on loans.
They are not insured like with money in the bank and the FDIC. But it is safe as to the extent that the insurance company is safe and at this point probably safer than the banks and the FDIC! I strongly advise against indexed annuities at this point where you can receive 0% interest. Why not a fixed annuity that would guarantee the interest rate for a fixed period of time? Currently 6% guaranteed for 10 years.
They loan out the money in their customers' accounts and charge a higher interest rate on the loans.
The bank does not just hold on to the money you retain in your savings account. Instead, they offer loans to other customers using that money. The loan customers pay an interest to the bank and the bank in turns offers the savings account holders an interest. Since banks make money by lending our money, they offer us an interest.
Any bank with decent interest rates is worth looking into, however this largely boils down to personal preference and your ability to check with local banks who may offer higher interest rates and/or different perks than national banks.
You will have to check with your loan supplier. they are the only people who can fully answer that question. Different banks have different rules.
It is a country specific question. However, in general the private and smaller banks provider a higher rate of interest, over large banks as well as government owned banks.