A Multi-Year Guaranteed Annuity (MYGA) is the annuity equivalent of a bank CD — but with higher rates, tax-deferred growth, and no FDIC caps. You deposit a lump sum, lock in a guaranteed interest rate for a set term (typically 2–10 years), and your money grows safely with no market exposure.
MYGAs are one of the simplest and most competitive savings vehicles available for retirement. Call us at 1-888-972-0024 for current rates from top-rated carriers.
Key Features of MYGAs
Your rate is set at contract issue and never changes during the term. Whether the Fed raises or cuts rates, your return is locked.
Unlike a CD, you don’t owe taxes on MYGA interest until you withdraw it. This accelerates growth significantly over multi-year terms.
MYGA rates from top carriers consistently outpace bank CD rates for equivalent terms, especially in the 3–7 year range.
MYGA funds are backed by state guaranty associations (up to state limits), providing a safety net similar in concept to FDIC insurance.
Most MYGA contracts allow you to withdraw up to 10% of your account value per year without surrender charges during the term.
MYGA vs. CD: Which Is Better?
For non-qualified money (outside an IRA), a MYGA almost always wins on an after-tax basis because of its tax-deferred growth. For IRA money, both a MYGA and a CD defer taxes — but MYGAs typically offer better rates with more flexibility on withdrawal timing.
Explore MYGA Resources
Top guaranteed rates by term length from highly rated carriers, updated regularly.
A detailed comparison of MYGAs and bank CDs for retirement savings.
Understand the tax treatment of MYGA interest inside and outside an IRA.
What happens if you need your money before the MYGA term ends.
We compare multi-year guaranteed annuity rates from multiple carriers so you get the best return for your term.