Best MYGA Annuity Rates in North Carolina – August 2026

North Carolina residents looking for predictable growth and competitive guaranteed interest rates may want to consider a Multi-Year Guaranteed Annuity (MYGA).

A MYGA is a type of fixed annuity issued by an insurance company. It provides a guaranteed interest rate for a specified period of time, commonly 2, 3, 4, 5, 7 or 10 years.

For retirees and conservative savers in North Carolina, MYGAs can provide an alternative to leaving long-term money in savings accounts, money-market accounts or repeatedly renewing short-term CDs.

At Mintco Financial, we help North Carolina residents compare MYGA and fixed annuity options from multiple insurance companies.

Top MYGA Annuity Rates to Compare – August 2026

Below are examples of competitive MYGA rates in the marketplace as of August 17, 2026. Rates, minimum premiums and product availability in North Carolina should always be confirmed before an application is submitted.

Important: Rates shown are examples based on rate information dated August 17, 2026. Rates can change without notice. Product availability, premium tiers, issue ages and contract provisions vary. Verify current North Carolina availability and rates before applying.

What Is a MYGA?

MYGA stands for Multi-Year Guaranteed Annuity. It is a fixed annuity designed to credit a guaranteed rate for a predetermined number of years.

For example, a 5-year MYGA locks in the applicable contract rate for five years. A 7-year MYGA provides a longer guaranteed period.

Because a traditional fixed MYGA is not directly invested in the stock market, its contract value does not fluctuate each day with stock prices.

Why North Carolina Retirees Are Looking at MYGAs

Many people approaching retirement don’t necessarily want to eliminate stock-market investments. Instead, they may want a portion of their retirement savings positioned more conservatively.

A MYGA may provide:

• A guaranteed interest rate for a specified period
• Predictable accumulation
• No direct stock-market exposure
• Tax-deferred accumulation
• Multiple guarantee periods
• Potential withdrawal provisions depending on the contract

Are 5-Year MYGAs a Good Choice Right Now?

Five-year MYGAs are particularly interesting because they can provide a balance between a competitive rate and the length of time your money is subject to the annuity’s surrender schedule.

Examples in the current market include:

• Aspida Synergy Choice 5 – 5.85%
• Nationwide Secure Growth 5 – 5.60%
• Athene Max Rate 5 – 5.55%
• North American NAC Guarantee Plus 5 – 5.50%

The highest rate is not automatically the best choice. Financial strength, withdrawal provisions and surrender terms should also be considered.

What About Longer-Term MYGAs?

If you are comfortable committing money for a longer period, 6-, 7- and 10-year MYGAs can also offer competitive rates.

For example, current rate examples include 5.85% for a 6-year Oxford Life Multi-Select, 5.90% for a 7-year Aspida Synergy Choice, and 5.80% for a 10-year Oceanview Harbourview.

A longer guarantee can be attractive when interest rates are favorable, but you should not lock up money that you expect to need for near-term expenses.

Should I Pick the MYGA With the Highest Rate?

Not necessarily. A rate is only one part of an annuity contract.

Before purchasing a MYGA, compare:

• Insurance company financial strength
• Guaranteed rate
• Guaranteed yield
• Simple versus compound interest
• Surrender period
• Free-withdrawal provisions
• Market Value Adjustment (MVA)
• Minimum premium
• Maximum issue age
• Renewal provisions

Be Careful Comparing Simple Interest With Compound Interest

This is particularly important when you see MYGA advertisements showing unusually high rates.

Some MYGAs use simple interest. A simple-interest rate can look considerably higher than the rate on a traditional compound-interest MYGA, while producing a lower annualized guaranteed yield than the headline percentage suggests.

Compare the actual guaranteed yield and contract value at the end of the guarantee period—not simply the largest number in an advertisement.

MYGA vs. CD in North Carolina

A MYGA and a bank CD can both provide predictable interest, but they are different financial products.

A CD is a bank deposit and may qualify for FDIC insurance within applicable limits.

A MYGA is an insurance contract, not a bank account. It is not FDIC insured. Contract guarantees depend upon the financial strength and claims-paying ability of the issuing insurance company.

Another important difference is taxation. With a non-qualified MYGA, earnings generally accumulate tax deferred until they are distributed.

Example: What Could $100,000 Earn?

Consider a hypothetical North Carolina resident who places $100,000 into a 5-year MYGA earning 5.50% compounded annually.

Assuming no withdrawals, after five years the value would be approximately:

$130,696

That’s approximately $30,696 in growth before applicable taxes.

This is a hypothetical mathematical example and does not represent a quote, guarantee or illustration for a specific insurance product.

Can I Purchase a MYGA With IRA Money?

Many MYGAs can accept qualified retirement assets, including IRA funds.

Depending on your circumstances, retirement assets may be transferred directly between financial institutions without creating an immediate taxable distribution.

Transfers and rollovers should be handled properly, and individual tax circumstances should be reviewed with an appropriate tax professional.

Can I Move an Existing Annuity Into a New MYGA?

Potentially. A qualifying Section 1035 exchange can allow one non-qualified annuity contract to be exchanged directly for another annuity contract without recognizing gain at the time of the exchange, provided applicable federal requirements are satisfied.

Before replacing an existing annuity, however, compare surrender charges, existing guarantees and benefits that could be lost.

How Liquid Is a MYGA?

MYGAs are generally designed for money that can remain invested for the guarantee and surrender period.

Some contracts allow a percentage of the account value or accumulated interest to be withdrawn without a surrender charge. Others provide less liquidity.

Taking more than the contract’s permitted amount can result in surrender charges and, for some contracts, a Market Value Adjustment.

For that reason, emergency savings generally should not be placed entirely into a MYGA.

What Happens When a MYGA Matures?

At the end of the guarantee period, your choices depend on the specific contract. You may be able to:

• Withdraw the money
• Renew for another guarantee period
• Move the funds to another annuity
• Complete an eligible 1035 exchange
• Elect an available income option

Review the contract’s renewal or withdrawal window carefully. Don’t automatically renew without comparing the new rate with other available MYGAs.

Who May Want to Consider a MYGA?

A MYGA may be worth evaluating if you:

• Want predictable interest
• Want a portion of your savings outside direct stock-market exposure
• Are approaching or already in retirement
• Have money you don’t expect to need immediately
• Are comparing CDs, fixed annuities and other conservative options
• Want tax-deferred accumulation for non-qualified money

Compare MYGA Annuity Rates in North Carolina

There isn’t one MYGA that’s best for every North Carolina resident.

Someone investing $25,000 may have different options from someone investing $100,000 or $250,000. Age, desired term, liquidity needs and the source of the funds can also affect which annuities are worth considering.

Mintco Financial helps North Carolina residents compare MYGA and fixed annuity options from multiple insurance companies.

Frequently Asked Questions About MYGAs in North Carolina

What are current MYGA rates in North Carolina?

As of August 2026, examples of competitive MYGA rates are above 5% across several guarantee periods, with some standard products approaching 6%. Rates depend on the insurance company, term, premium tier and contract.

Are MYGA rates guaranteed?

The applicable MYGA interest rate is guaranteed according to the terms of the insurance contract for its specified guarantee period.

Are MYGAs FDIC insured?

No. MYGAs are insurance contracts, not bank deposits. They are not FDIC insured. Guarantees are based on the financial strength and claims-paying ability of the issuing insurer.

What is the best MYGA term?

There is no universal best term. A shorter MYGA provides an earlier opportunity to reconsider your options, while a longer MYGA can lock in a guaranteed rate for a longer period.

How much money do I need to open a MYGA?

It depends on the product. Some MYGAs have minimum premiums of $10,000 or $20,000, while higher-rate premium tiers may require $70,000, $100,000, $250,000 or more.

Disclosure:
Rates shown are examples based on information available as of August 17, 2026 and are subject to change without notice. Product availability, rates, premium tiers and contract provisions may vary in North Carolina. Annuities are insurance products and are not FDIC-insured bank deposits. Guarantees are subject to the financial strength and claims-paying ability of the issuing insurance company. Withdrawals may be subject to surrender charges, Market Value Adjustments and income taxes. Withdrawals before age 59½ may also be subject to an additional federal tax penalty. This information is for educational purposes and is not intended as individualized investment, tax or legal advice.