Current multi-year guaranteed annuity rates by term
| Term | Top APY | Carrier Rating | Minimum |
|---|---|---|---|
| 2 Year | 5.40% | A or better | $10,000 |
| 3 Year | 5.75% | A or better | $10,000 |
| 4 Year | 5.85% | A or better | $10,000 |
| 5 Year | 6.10% | A or better | $10,000 |
| 7 Year | 6.25% | A or better | $25,000 |
| 10 Year | 6.40% | A or better | $25,000 |
What "multi-year guaranteed" really means
The "guaranteed" part refers to the interest rate — fixed for the entire term, not just the first year. (Some fixed annuities credit a teaser rate for year one and reset annually — those are NOT MYGAs.) A true MYGA locks in the same APY for the full 2 to 10 years, regardless of what happens to broader interest rates.
How to choose a MYGA term
- Short (2–3 years): Best when you expect rates to rise or have a known cash need.
- Medium (5 years): The sweet spot — best yield-per-year of commitment.
- Long (7–10 years): Highest absolute APY — best when the money is set aside.
Drill into specific terms: 3-year, 5-year, 7-year, or 10-year MYGA rates. Or browse the full MYGA rates hub.
Frequently asked questions
- What is a multi-year guaranteed annuity?
- A multi-year guaranteed annuity (MYGA) is a type of fixed deferred annuity that pays a guaranteed interest rate for a set number of years — typically 2 to 10. Interest compounds tax-deferred inside the contract. At maturity you can renew, surrender, annuitize, or 1035-exchange.
- What are the best multi-year guaranteed annuity rates today?
- As of January 1, 1970, top MYGA rates from A-rated carriers range from approximately 5.40% APY (2-year) to 6.40% APY (10-year). The 5-year sweet spot is around 6.05% APY.
- How is a multi-year guaranteed annuity different from a regular annuity?
- MYGA is the most basic form of fixed annuity — guaranteed rate, no market exposure, no income rider. Other annuity types include immediate annuities (SPIA — guaranteed income now), deferred income annuities (DIA — guaranteed income later), and fixed indexed annuities (FIA — index-linked growth with downside protection).
- Are multi-year guaranteed annuities safe?
- MYGAs are backed by the issuing insurance carrier's claims-paying ability and by state guaranty associations up to state-specific limits (commonly $250,000). They aren't FDIC-insured but A-rated carriers have historically had extremely low default rates.
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