The best annuity rates today come from multi-year guaranteed annuities (MYGAs), which lock in a fixed rate for a set number of years. Other annuity types pay in different ways: fixed annuities declare a rate that can reset, fixed index annuities credit interest from a market index, and immediate annuities pay a monthly income.
This guide shows today’s top MYGA rate for each term, pulled live from the AnnuityRateWatch feed. It also explains how to judge the rate on each of the other annuity types.
What are the best annuity rates right now?
MYGAs pay the highest guaranteed rates of any annuity type. The table below lists the top rate for each term from 1 to 10 years and updates automatically.
| Term | Carrier | Product | Rate | AM Best |
|---|---|---|---|---|
| 2-Year | Oceanview Life and Annuity | Harbourview 2 | 5.15% | |
| 3-Year | Ibexis | MYGA Plus 3 (Simple Interest) SI | 6.15% | |
| 4-Year | Oxford Life Insurance Company | Multi-Select 4 | 5.75% | |
| 5-Year | Knighthead Life | Staysail 5 (Simple Interest) SI | 6.65% | |
| 6-Year | Oceanview Life and Annuity | Harbourview 6 | 6.10% | |
| 7-Year | Knighthead Life | Staysail 7 (Simple Interest) SI | 7.10% | |
| 8-Year | Oxford Life Insurance Company | Multi-Select 8 | 5.90% | |
| 9-Year | Oxford Life Insurance Company | Multi-Select 9 | 5.95% | |
| 10-Year | Oceanview Life and Annuity | Harbourview 10 | 6.20% |
Rates shown are the highest available for each term from carriers rated A- or better (AM Best). Products marked SI use simple interest. Always verify current rates with a licensed annuity broker before purchasing.
Two things to check before you chase the top number:
- Simple vs. compound interest: products marked SI credit simple interest, so a slightly lower compounding rate can pay more over the full term.
- Carrier rating: the highest rates often come from carriers rated A- by AM Best, one notch below A. Compare ratings alongside rates in our best annuity companies guide.
Best MYGA rates
A MYGA is an insurance contract that guarantees one interest rate for the full term, similar to a bank CD. Your principal is protected and the interest grows tax-deferred until you withdraw it.
- Short terms (2 to 3 years): the most flexibility if you may need the money soon.
- Middle terms (5 to 7 years): usually where the highest rates sit in the table above.
- Long terms (8 to 10 years): a longer guarantee, but the rate is often no higher than a 7-year.
Hypothetical example: Mary, age 62, puts $200,000 into a 5-year MYGA at a hypothetical 6.00%, compounded annually. After five years she has about $267,600, regardless of what the stock market does.
Rates on the same term can differ by half a point or more between carriers. See every product and carrier on our best MYGA rates page, and learn the basics in what is a MYGA.
Best fixed annuity rates
A traditional fixed annuity guarantees its rate only for an initial period, often 1 to 3 years. After that, the carrier declares a new rate each year, though it can never fall below the contract’s minimum guaranteed rate.
- Watch for teaser rates: some contracts pay a higher first-year rate that drops afterward.
- Ask for the minimum guaranteed rate: it is the floor the carrier can never go below, and it is listed in the contract disclosure.
- Check withdrawal terms: many fixed annuities allow some free withdrawals each year, commonly up to 10%.
Hypothetical example: David, age 67, puts $150,000 into a 3-year fixed annuity at a hypothetical 5.50%. At the end of year three he has about $176,100 and can decide whether to renew or move the money.
Compare current products on our best fixed annuity rates page, or read what is a fixed annuity.
Best fixed index annuity rates
A fixed index annuity (FIA) has no single rate to quote. Your interest depends on a market index, such as the S&P 500, limited by terms the carrier sets and can change at each renewal.
- Cap rate: the most you can earn in a crediting period, however well the index does.
- Participation rate: the share of the index gain you receive.
- Zero floor: in a year the index falls, you earn 0% instead of a loss.
Hypothetical example: Robert, age 60, puts $150,000 into an FIA with a hypothetical 7% annual cap. If the index gains 18%, he is credited 7%; if it falls 12%, he is credited 0% and keeps his $150,000.
Most FIAs carry 7 to 10 year surrender charges, so only commit money you will not need before then. See how fixed index annuities work and our list of the best fixed index annuity companies.
Best SPIA rates
A single premium immediate annuity (SPIA) turns a lump sum into a monthly check that can start within about a month. It is quoted as a monthly payout, not an interest rate.
- Age: the older you are when payments start, the higher the monthly amount.
- Payout option: a joint life or period-certain option pays less per month than single life.
- Rates and carrier: payouts follow Treasury yields and can differ meaningfully between carriers for the same premium.
See current quotes on our best SPIA rates page, and read what is a SPIA before you buy.
Where are annuity rates headed?
Annuity rates follow Treasury yields, which respond to Federal Reserve policy. On September 16, 2026, the Fed raised its target range by a quarter point to 3.75% to 4%, and its meeting minutes say most members expect another increase by year end (Federal Reserve).
- Next decision: the Fed meets on October 28, 2026. Read what it could mean in our October Fed meeting preview.
- Rising rates: a shorter MYGA term lets you renew sooner if rates keep climbing.
- Long-run view: see how rates have moved on our annuity rate trends page and how annuity rates are set.
How to get the best annuity rate
- Compare several carriers. No single carrier leads every term, and the gap on the same term can be half a point.
- Match the term to your timeline. Surrender charges can erase a higher rate if you need the money early.
- Consider a ladder. Splitting money across 3, 5 and 7 year contracts gives you regular access and spreads rate risk. See our annuity laddering strategy guide.
- Check the carrier’s rating. Your guarantee is only as strong as the insurer behind it, backed up to state limits by your state guaranty association.
- Use an independent agent or broker. They can quote many carriers at once instead of one.
Check the live table at the top of this page before you decide, because the best annuity rates change as carriers reprice.
Frequently Asked Questions
What is the highest annuity rate available right now?
MYGAs pay the highest guaranteed annuity rates. The live table at the top of this page shows today’s top rate for each term from 1 to 10 years. Rates vary by carrier, term and state.
Are annuity rates going up or down?
The Federal Reserve raised its target range to 3.75% to 4% on September 16, 2026, and most members expected another increase by year end. Higher Treasury yields usually lift annuity rates, though carriers reprice on their own schedules.
What type of annuity has the best rate?
MYGAs offer the highest guaranteed fixed rates. Fixed index annuities trade a guaranteed rate for index-linked upside with a 0% floor, and SPIAs are judged by monthly payout instead of a rate.
Is now a good time to buy an annuity?
The right time depends on when you need the money and how much income you need, not just where rates are. If rates are expected to rise, a shorter MYGA term lets you renew sooner at a higher rate.
Can an insurance company change my annuity rate after I buy?
On a MYGA, no: the rate is guaranteed for the full term. On a traditional fixed annuity, the rate is guaranteed only for the initial period and can then adjust, though never below the contract’s minimum guaranteed rate.
