Fixed Annuity Rates
MYGA & Fixed Annuity Rates — How They Compare to CDs
Multi-Year Guaranteed Annuities offer competitive fixed rates with tax-deferred growth — often outperforming bank CDs for retirement savers.
What Is a MYGA (Multi-Year Guaranteed Annuity)?
A MYGA is a fixed annuity that locks in a guaranteed interest rate for a specific number of years — similar to a bank CD, but issued by an insurance company. Your principal is 100% guaranteed, your interest rate is locked in at purchase, and your money grows tax-deferred until withdrawal.
MYGAs are one of the most straightforward and popular annuity products for conservative savers who want a better rate than a CD without taking on market risk.
* Rates are illustrative. Contact us for current rates from top-rated carriers.
MYGA vs. CD — Side-by-Side Comparison
| Feature | MYGA Annuity | Bank CD |
|---|---|---|
| Interest Rate | Fixed, guaranteed rate (e.g., 5.20–5.45%) | Fixed rate (typically lower) |
| Tax Treatment | Tax-deferred growth | Taxed annually |
| FDIC Insurance | State guaranty association (up to $250K) | FDIC insured (up to $250K) |
| Early Withdrawal | Surrender charge + possible IRS penalty if under 59½ | Early withdrawal penalty |
| Penalty-Free Access | Typically 10% per year free withdrawal | Varies by bank |
| Minimum Deposit | $10,000–$25,000 typically | Often $500–$1,000 |
| Contribution Limits | No limit (non-qualified) | No limit |
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