Guaranteed fixed rates for 3-10 years, often 0.5-2% higher than CDs with tax deferral. Simple, predictable growth without market risk or complexity.
See how much more you can earn with a MYGA
Four reasons MYGAs beat traditional CDs
MYGAs typically pay 0.5-2% more than CDs. Same safety (state guaranty funds), better returns. No market risk, just guaranteed growth.
Unlike CDs, you don't pay taxes until withdrawal. No annual 1099s, no tax drag. Compounding interest on money that would have gone to taxes.
Your money is guaranteed by the insurance carrier, backed by state guaranty associations (typically $250K-$500K per carrier). Zero market risk.
Choose 3, 5, 7, or 10-year terms to match your goals. Rates are locked in for the full term—no renewal risk at lower rates.
Top rates by term from A-rated carriers
Feature-by-feature comparison
| Feature | MYGA | Bank CD |
|---|---|---|
| Interest Rates | Typically 0.5-2% higher | Lower rates |
| Tax Treatment | Tax-deferred (no 1099s) | Taxable annually |
| Safety | State guaranty funds ($250K-$500K) | FDIC insured ($250K) |
| Early Withdrawal | Surrender charges (declining) | Early withdrawal penalty |
| Minimum Investment | Typically $10,000-$25,000 | Often lower minimums |
| 1099 Reporting | Only at withdrawal | Annual 1099-INT |
| Rate Lock Period | 3-10 years guaranteed | Varies (3 months - 5 years) |
Both are safe, fixed-rate products. MYGAs typically offer higher rates with tax advantages, while CDs offer more familiarity and lower minimums.
Perfect for specific savings goals
If you're shopping for CDs, compare to MYGAs first. Often 0.5-2% higher with tax deferral means significantly more growth over 5-7 years.
MYGAs work best when you don't need the money until term end. Most allow 10% penalty-free withdrawals annually if needed.
Your rate is guaranteed from day one. Unlike stocks or even FIAs, there's zero market exposure. Perfect for conservative savers.
Early withdrawals beyond the 10% free withdrawal provision trigger surrender charges. Keep emergency funds elsewhere.
MYGAs are for safe, guaranteed growth. If you want market-linked upside, consider FIAs. If you're comfortable with risk, consider direct investing.
Browse all 89 MYGAs, filter by term and carrier rating. See guaranteed rates before sharing any contact information.
Want market-linked growth? FIAs offer participation in index gains with principal protection—like MYGAs but with upside potential.
Explore FIAs →Need income instead of growth? SPIAs convert your lump sum into guaranteed monthly payments for life starting in 30 days.
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