Fixed Annuity Rates
Today’s Best Fixed Annuity Rates for Multi-Year Guaranteed Annuities (MYGAs)
Top Fixed Rate Annuities for 2026
Below, you’ll find the highest fixed annuity rates and product details for multi-year guaranteed annuities (MYGAs). These fixed annuities provide a guaranteed rate of return for a set period, typically ranging from two to ten years. MYGAs come with no annual fees but are subject to surrender charges. These charges are penalties for withdrawing funds beyond the free-withdrawal limits before the end of the specified term.
Top Fixed Annuity Rates by Term Length
Below, you’ll find the highest fixed annuity rates available by term length. In MYGAs, the term length represents both the contract duration and the guaranteed rate period. Keep in mind that fixed annuity rates can vary by state and may change daily. To ensure you’re accessing the most accurate and up-to-date rates for your state, request Today’s MYGA Report above. Scroll down to explore all available fixed annuity rates.
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All Fixed Annuity Rates
Use the menu to select a term length and view fixed annuity rates for specific durations. Rates and availability vary by state, so request Today’s MYGA Report for state-specific rates and detailed product information. For purchasing options, call us at 1-800-501-1984.
Understanding Fixed Annuity Rates
Fixed annuity rates are the interest rates set by insurance companies when you purchase a fixed annuity. These rates apply to your entire account balance annually. For example, if you invest $100,000 in an annuity with a 3% fixed rate for ten years, your account will grow to approximately $134,935 by the end of the term.
You might wonder why the total isn’t exactly $130,000, given that 3% of $100,000 equals $3,000 annually. The additional $4,935 comes from the power of annual compounding. After the first year, your account grows to $103,000. In the second year, you earn 3% on $103,000 instead of the original $100,000. This compounding effect continues, increasing your overall yield over time.
An Overview of Multi-Year Guaranteed Annuities (MYGAs)
What Are Multi-Year Guaranteed Annuities (MYGAs)?
A Multi-Year Guaranteed Annuity (MYGA) is an insurance company product that works similarly to a bank CD. You deposit a lump sum, and the insurer guarantees a fixed interest rate for a specified term. MYGAs are straightforward, with no hidden fees or unexpected changes after purchase.
As a type of fixed annuity, MYGAs provide a guaranteed rate for the full contract period, ranging from one to ten years. Current top rates fall between 5.00% and 5.55%, depending on the term length.
What Happens When the Contract Ends?
At the end of the contract, policyholders have several options:
- Withdraw funds as a lump sum.
- Reinvest in a new annuity.
- Leave the funds in place to earn the renewal rate.
Policyholders typically have 30 days to decide. If no action is taken, the contract will automatically renew at the prevailing rate.
How Do MYGAs Compare to Other Annuities?
While MYGAs are technically deferred fixed annuities, their fixed rates are guaranteed for the entire term. For example, a seven-year MYGA with a 6% rate ensures that rate for all seven years. In contrast, traditional deferred fixed annuities might start with a similar rate but allow adjustments after the first year.
MYGAs vs. Bank CDs
Although MYGAs and bank CDs share a similar structure, they differ in several important ways:
- Issuers:
- CDs: Issued by banks and insured by the FDIC up to $250,000 for non-retirement accounts.
- MYGAs: Offered by insurance companies and backed by state guaranty associations, with coverage ranging from $100,000 to $300,000 depending on your state.
- Tax Advantages:
- MYGAs: Growth is tax-deferred, and transferring funds between MYGAs via a 1035 exchange avoids taxable events.
- CDs: Generate taxable income annually, reported via 1099-INT forms.
- Access to Funds:
- MYGAs: Allow partial withdrawals (typically up to 10% annually) without penalties.
- CDs: Require full liquidation and impose fees for early withdrawals.
Additionally, MYGAs often allow you to withdraw interest as monthly income. However, early withdrawals from any annuity before age 59.5 are subject to a 10% IRS penalty.
Key Takeaway
MYGAs provide a reliable, tax-efficient option for those seeking guaranteed returns over a fixed period. They offer greater flexibility than CDs and can complement a balanced financial strategy.
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Choosing Between A Fixed Annuity And A Bank CD
The most important consideration is age. Are you retired or close to retirement? Are you near or over the age of 59.5? If so, annuities will out-perform CDs because of their tax-deferral benefits and more competitive rates. If you’re a younger investor, go with CDs to avoid the 10% tax penalty.
As for choosing between fixed and MYGA annuities, there’s really little difference. With near identical benefits, go with whichever annuity happens to offer the higher rate. Just keep in mind that fixed annuities don’t necessarily guarantee their rate for the full term.
Guaranteed Rates
MYGA Rates remain consistent throughout the entire policy.
No Fees
There are no fees for MYGAs unless it’s surrendered early.
Tax Benefits
Annuities offer tax deferred growth.
Principal Protection
Principal is guaranteed and protected.
Latest Annuity News
2026 Annuity Market Update: Strong Sales Continue as Fixed Annuities and Guaranteed Income Attract Buyers
Updated October 2026
The U.S. annuity market continues to experience historically strong demand, with investors seeking opportunities for guaranteed growth, principal protection, and dependable retirement income.
According to LIMRA, total annuity sales reached $121.2 billion in the second quarter of 2026, bringing first-half sales to a record $228.7 billion. This follows a record-breaking 2025, when annual annuity sales totaled $464.1 billion.
While demand remains strong across the industry, recent figures reveal important differences between fixed-rate, indexed, and income annuities.
Fixed-Rate Annuities Continue to Attract Retirement Savers
Fixed-rate deferred annuities generated $41.8 billion in sales during the second quarter of 2026, representing a 17% increase over the previous quarter, although sales were 9% below the same period in 2025.
Multi-Year Guaranteed Annuities (MYGAs) remain an option for savers who want predictable interest earnings without stock market exposure.
Unlike investments with fluctuating returns, MYGAs provide a contractually guaranteed interest rate for a specified period, commonly ranging from two to ten years.
For consumers comparing fixed annuities, the important considerations extend beyond the advertised interest rate. Contract length, surrender charges, withdrawal provisions, and the issuing insurance company’s financial strength all deserve attention.
Immediate Annuities Reach Record Sales Levels
Interest in guaranteed retirement income is also growing. Single Premium Immediate Annuity (SPIA) sales reached a record $4.1 billion in the second quarter of 2026, increasing 15% from the same quarter a year earlier.
Deferred Income Annuities (DIAs), which allow purchasers to establish an income stream beginning at a future date, generated $1.3 billion in quarterly sales, an increase of 9% year over year.
As more Americans approach retirement without traditional pensions, income annuities offer one way to convert retirement savings into predictable payments.
The amount of income an annuity can provide depends on several factors, including the purchaser’s age, premium amount, payment frequency, and whether payments continue for a lifetime or a specified period.
Indexed Annuities Remain an Important Part of the Market
Fixed indexed annuities generated $30.6 billion in second-quarter sales, declining 7% from the previous year but increasing 14% from the first quarter of 2026.
These products offer interest-crediting potential linked to market index performance while generally protecting principal from index-related losses, subject to contract terms and the insurer’s claims-paying ability.
However, caps, participation rates, spreads, and other contract features can limit credited interest. Understanding these provisions is essential when comparing indexed products with traditional fixed-rate annuities.
What Does the Current Market Mean for Annuity Buyers?
Strong industry sales do not necessarily mean every annuity is a good fit for every investor.
Interest rates, insurer pricing decisions, and contract features continue to influence the value offered by different annuity products. Even annuities with similar guaranteed periods can offer meaningfully different rates, liquidity provisions, and other terms.
For consumers considering an annuity in 2026, comparing multiple insurers and understanding the tradeoffs between guaranteed growth, access to funds, and lifetime income remains especially important.
At All Things Annuity, we provide current fixed annuity rate comparisons, income illustrations, and educational resources to help consumers evaluate their options before making a decision.
Source: LIMRA U.S. Individual Annuity Sales Survey, second quarter 2026, published September 8, 2026. Industry sales figures reflect reported premiums, not investment performance. Annuity guarantees depend on the issuing insurer’s claims-paying ability.
Frequently Asked Fixed Annuity Rates Questions
The most commonly asked questions regarding multi-year guaranteed annuities with fixed annuity rates.
Do MYGAs allow withdrawals from my annuity?
Most fixed annuities allow a specified amount to be withdrawn penalty-free. The allowable withdrawal amount will differ from company-to-company, so be sure to read the product specifics carefully. MYGA annuities allow penalty-free withdrawals of your earned interest or penalty-free withdrawals of 10% of your contract value each year.
What are the penalties for early surrender?
Multi-year guaranteed annuities have a surrender charge that declines over time. The surrender charge is as high as 10% in the first year. The surrender fee will decline each year. A surrender fee would be charged to any withdrawal greater than the penalty-free amount allowed by your specific annuity contract.
