MYGA Rates: Current Carrier Rate Sheets and What Drives Them
A multi-year guaranteed annuity locks one interest rate for a set number of years. No market exposure, no index, no participation rate. Just a rate, a term and a contract. It is the closest thing the insurance industry has to a CD, and it is usually the highest guaranteed rate available on money you can leave alone for three years or more.
Running these numbers on a MYGA someone has already illustrated for you? Get a free, independent second opinion before you sign. I'll give you a straight read on the rate, the surrender schedule and the carrier, with no product pitch.
Where the market sat on September 24, 2026: A-rated-or-better carriers were paying about 5.80% to 6.00% on 5-year MYGAs (AnnuityRateWatch carrier rate data), and lower-rated carriers can quote more. The best nationally available 5-year CDs paid 4.35% to 4.50% APY (DepositAccounts). Rates change weekly and by state, so treat those as the shape of the market rather than a quote.
Track the gap monthly: the MYGA vs CD Spread Index records the 5-year MYGA range from A-rated insurers against the top 5-year CD and the Treasury every month, with dated sources and a free CSV.
CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 4.50%, the top nationally available 5-year CD (DepositAccounts, September 24, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $118,826 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $7,310 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
Current MYGA rates from carrier rate sheets
Rate sheets effective October 14 to 26, 2026. MYGA rates and guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company, not by the FDIC.
| Contract | 3-year | 5-year | 7-year | Premium band | Effective |
|---|---|---|---|---|---|
| Athene MaxRate (most states) | 5.75% | 6.05% | 6.15% | $100,000+ | 10/14/2026 |
| Athene MaxRate (most states) | 5.50% | 5.80% | 5.85% | Under $100,000 | 10/14/2026 |
| Athene MaxRate (CA and 18 other states) | 5.75% | 6.00% | 6.10% | $100,000+ | 10/14/2026 |
| MassMutual Stable Voyage | 5.40% | 5.75% | n/a (4-yr 5.55%) | $100,000+ | 10/26/2026 |
| MassMutual Stable Voyage | 5.15% | 5.50% | n/a (4-yr 5.30%) | Under $100,000 | 10/26/2026 |
| A-rated-or-better market, 5-year | ~5.80%-6.00% | Varies | 9/24/2026 |
For scale: the best nationally available 5-year CDs paid about 4.35% to 4.50% APY on September 24, 2026 (DepositAccounts), and big-bank 5-year CDs less.
Rates by term: 3-year MYGA rates · 5-year MYGA rates · 7-year MYGA rates · 10-year MYGA rates · MYGA, CD and HYSA rate tracker · Weekly MYGA rate tracker (CSV + data)
How to pick a term
- 3-year if you may need the money within 3 to 4 years. Rates are usually a little below 5-year.
- 5-year is where most buyers land: the best rate-to-commitment trade in the October 2026 sheets above.
- 7-year only if the extra rate is worth locking up longer. On Athene's 10/14/2026 cards the 7-year paid 0.05% to 0.10% more than the 5-year.
Read the liquidity terms, not just the rate
| Athene MaxRate | MassMutual Stable Voyage | |
|---|---|---|
| Free withdrawal each year | Multi-year rate x accumulated value (about the interest) | 10% of contract value |
| Surrender charges | 10% each year in most states; CA 8.3% declining | 7%, 7%, 7%, then 6%, 5% on longer terms |
| Market value adjustment | Yes | Not described in the brochure excerpt reviewed |
| Minimum | $10,000 | $10,000 |
Why the top rate is often a carrier you have not heard of
MYGA rates are priced off what the carrier can earn on its own bond portfolio, minus what it needs to keep. A smaller carrier growing its book will price aggressively to win deposits. A large household-name carrier with plenty of assets has no reason to.
That isn't automatically a warning. It does mean the rating and the state guaranty limit matter more when you are reaching for the top of the sheet. A higher rate from a B++ carrier and a lower rate from an A carrier are different products. They are not the same product at two prices.
Video: MYGA Rates in about 2 minutes
1 min 39 sec video. AI narration of this page, accuracy-checked against the review; the tables on this page are the current source. Education, not personal advice.
Video transcript
First things first, just to make sure we're all on the same page, what exactly is a MYGA? Well, a multi-year guaranteed annuity is simply an insurance contract that pays one fixed rate for a set term. It's essentially the insurance version of a CD. But there is a very important distinction to make here. Unlike a CD, these are not FDIC insured. Any guaranteed benefits are strictly backed by the insurer's claims-paying ability and your state's Life and Health Insurance Guaranty Association. Now, a huge part of the strategy with these contracts involves how the growth is treated. You have to know the exact rule here, which is interest is tax-deferred until withdrawn, then taxed as ordinary income. Withdrawals of gain before 59.5 can carry a 10% IRS penalty. So the money grows without the tax drag every year. And then, at the end of your set term, you've got some great flexibility. You can just take the money, you can renew the contract, or you can roll it over to another annuity using a 1035 exchange. If we look at specific carrier rate sheets for that same $100,000 and up tier, Athene MaxRate pays 5.85% on the 5-year in most states, effective September 25, 2026. But interestingly, for Athene MaxRate in California and 18 other states, that 5-year rate is 5.80%, also effective September 25, 2026. Then we've got MassMutual's Stable Voyage, paying 5.50% on the 5-year at $100,000 and up, effective September 28, 2026. The big takeaway? Your exact rate heavily depends on your deposit amount and your state. In fact, for both Athene and MassMutual, rates are 0.25% lower if you're under that $100,000 mark.
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
We’ll email you when a rate on this page changes. Hans Goldstein · NPN 20602398.
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The four numbers that decide a MYGA, in order
- The term. Match it to when the money is actually needed. This decides more outcomes than the rate does.
- The surrender schedule. Year-by-year percentages, and whether a market value adjustment applies on top.
- The free withdrawal. Most contracts allow 10% a year without charge. Some allow interest only. A few allow nothing in year one.
- The rate. Last, because the first three decide whether you ever actually receive it.
Rate bands: the mistake that costs the most
Many carriers publish one rate under $100,000 and a higher one above it. Depositing $95,000 instead of $100,000 can cost 15 to 25 basis points for the whole term. Before funding, ask where the bands are.
How a MYGA compares on the same money
| Instrument | Backing | Tax while growing | Early access |
|---|---|---|---|
| MYGA | Carrier + state guaranty association | Deferred | Surrender charge, usually 10% a year free |
| Bank CD | FDIC $250,000 | Taxed annually | Interest penalty |
| Treasury | U.S. government | Taxed annually, state-tax exempt | Sell at market price |
| High-yield savings | FDIC $250,000 | Taxed annually | Immediate |
People underestimate the deferral. In a 32% bracket, a MYGA and a CD at the same headline rate do not produce the same money, because the CD is taxed every year on interest you have not spent. See annuity vs CD for the side-by-side.
MYGA vs CD on $250,000 for 5 years
Hypothetical, 24% federal bracket, state tax ignored: a 5.80% MYGA ends near $311,800 after paying tax on the gain at the end; a 4.50% CD taxed every year ends near $295,800. The CD keeps FDIC insurance and a small early-exit penalty; the MYGA keeps about $16,100 more.
Run your own numbers: MYGA vs CD after-tax calculator · MYGA growth calculator · MYGA monthly income calculator
What happens at the end of the term
This is where most of the value is won or lost. At maturity you can take the money, renew at the carrier's new rate, or move it to another carrier under a 1035 exchange without triggering tax. Renewal rates are frequently well below what a new buyer is offered. Put the maturity date in your calendar the day you fund the contract; carriers are not required to call you, and a contract that quietly renews at 3% undoes years of good work.
Getting an actual quote
Published rate tables go stale within days and vary by state, deposit size and age. I run live comparisons across the carriers I am appointed with. Tell me the amount, the state and how long the money can sit, and I will send back the current top three with their surrender schedules next to the rates.
Related reading
- Annuity vs CD, compared
- Fixed annuity rates explained
- Annuity reviews by carrier and product
- CD reviews
Want my independent take on whether this fits your situation?
I'm Hans Goldstein, independent licensed insurance producer (NPN 20602398), appointed with multiple A-rated carriers. I run side-by-side comparisons against CDs, MYGAs, Treasuries, and MMFs every week for retirees and pre-retirees. Tell me what you're considering and I'll send back a written comparison.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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FAQ
What is a good MYGA rate right now?
As of September 24, 2026, A-rated-or-better carriers were paying about 5.80% to 6.00% on 5-year MYGAs (AnnuityRateWatch carrier rate data); lower-rated carriers can quote more. Rates move weekly and the best rate is frequently from a carrier you have not heard of, which is why the rating matters as much as the number.
What is a MYGA?
A multi-year guaranteed annuity is a fixed annuity that guarantees one interest rate for a set term, usually 2 to 10 years. It is the insurance industry's equivalent of a CD, with tax deferral instead of FDIC insurance.
Do MYGA rates change after you buy?
No, not during the guarantee period. The rate you lock is contractual for the full term. What changes is the renewal rate at the end of the term, which is why the end-of-term decision matters as much as the purchase.
What is the minimum to buy a MYGA?
Most carriers start between $10,000 and $25,000. Some publish a higher rate above $100,000, so a deposit just under a band break can cost you real yield.