Best MYGA Annuity Rates in South Carolina – August 2026
South Carolina retirees and savers looking for competitive guaranteed interest rates have several attractive Multi-Year Guaranteed Annuity (MYGA) options available in 2026.
MYGAs provide a guaranteed interest rate for a specific period, commonly ranging from 2 to 10 years. They can be particularly attractive for people who want predictable growth without directly exposing this portion of their retirement savings to stock-market fluctuations.
At Mintco Financial, we compare fixed annuity and MYGA options from multiple insurance companies for South Carolina residents.
Top MYGA Rates in South Carolina – August 2026
Here are examples of competitive MYGA options to consider. The best annuity is not necessarily the one displaying the highest rate. Financial strength, liquidity, surrender provisions, deposit requirements and length of the guarantee should also be considered.
| Company | MYGA | Term | Rate | Minimum Premium |
|---|---|---|---|---|
| CL Life | Sundance 2 | 2 Years | 5.15% | $20,000 |
| Athene | Max Rate 3 | 3 Years | 5.30% | $100,000 |
| Oceanview Life & Annuity | Harbourview 4 | 4 Years | 5.60% | $70,000 |
| Aspida | Synergy Choice 5 | 5 Years | 5.85% | $100,000 |
| Nationwide | Secure Growth 5 | 5 Years | 5.60% | $100,000 |
| Athene | Max Rate 5 | 5 Years | 5.55% | $100,000 |
| Oxford Life | Multi-Select 6 | 6 Years | 5.85% | $20,000 |
| Aspida | Synergy Choice 7 | 7 Years | 5.90% | $100,000 |
| Athene | Max Rate 7 | 7 Years | 5.65% | $100,000 |
| Oceanview Life & Annuity | Harbourview 10 | 10 Years | 5.80% | $70,000 |
Rates as of August 17, 2026. Rates and product availability can change without notice. Minimum premium, age requirements and product availability may vary. Contact Mintco Financial to verify current South Carolina availability before applying.
Compare MYGA Rates in South Carolina
Don’t choose an annuity based on one advertised rate.
Compare MYGA options from multiple insurance companies.
$25,000 • $50,000 • $100,000 • $250,000+
Independent Guidance • Multiple Insurance Companies • No Obligation
What Is a MYGA Annuity?
A Multi-Year Guaranteed Annuity is a fixed annuity issued by an insurance company. The insurer guarantees a stated interest rate for a specified number of years.
For example, if you purchase a 5-year MYGA, the applicable interest rate is guaranteed according to the contract for that five-year guarantee period.
Unlike money invested directly in stocks or stock mutual funds, the value of a traditional MYGA does not rise and fall each day with the stock market.
Why Are MYGAs Attractive to South Carolina Retirees?
Many people approaching retirement want part of their savings positioned more conservatively. They may not want all of their retirement money exposed to stock-market volatility, but they still want a competitive return.
A MYGA can potentially provide:
- A guaranteed interest rate for a specific period
- Predictable accumulation
- No direct stock-market exposure
- Tax-deferred growth
- Different guarantee periods
- Potential access to a portion of the account, depending on the contract
5-Year MYGAs Are Particularly Competitive
Five-year MYGAs are worth comparing because they can provide a balance between locking in today’s interest rates and avoiding an extremely long commitment.
Current examples include Aspida Synergy Choice 5 at 5.85%, Nationwide Secure Growth 5 at 5.60%, and Athene Max Rate 5 at 5.55%.
Other competitive 5-year choices may also be available depending on your deposit amount, age and liquidity requirements.
What About a 7-Year MYGA?
South Carolina residents willing to lock in a guaranteed rate for a longer period can also compare 7-year MYGAs.
For example, Aspida Synergy Choice 7 currently shows a 5.90% rate for the applicable high-premium tier, while Athene Max Rate 7 shows 5.65%.
A longer guarantee can be attractive when rates are high, but you should be comfortable with the surrender period before committing the money.
Should You Choose the MYGA With the Highest Rate?
Not necessarily.
A high rate gets attention, but the rate alone doesn’t determine whether an annuity is appropriate.
When comparing MYGAs, consider:
- Financial strength of the insurance company
- Guaranteed rate and guaranteed yield
- Surrender-charge period
- Free-withdrawal provisions
- Market Value Adjustment (MVA)
- Minimum premium
- Maximum issue age
- What happens when the guarantee period ends
Watch Out for Simple Interest MYGAs
This is particularly important when comparing today’s highest advertised MYGA rates.
Some annuities advertise a simple-interest rate that can appear substantially higher than competing compound-interest MYGAs.
For example, a MYGA might advertise a simple interest rate above 6%, but its annualized guaranteed yield can be lower.
Always compare the guaranteed yield and contract terms rather than assuming that the largest advertised percentage automatically produces the best result.
MYGA vs. CD: What’s the Difference?
MYGAs are sometimes compared with bank certificates of deposit because both can provide predictable interest rates. However, they are fundamentally different products.
A CD is a bank deposit and may qualify for FDIC insurance within applicable limits.
A MYGA is an insurance contract. It is not FDIC insured, and its guarantees depend on the financial strength and claims-paying ability of the issuing insurance company.
One important difference is taxation. Interest earned in a taxable bank CD is generally reportable each year. Earnings inside a non-qualified annuity generally accumulate tax deferred until money is withdrawn.
How Much Can $100,000 Grow in a 5-Year MYGA?
Suppose you place $100,000 into a hypothetical 5-year MYGA earning 5.50% compounded annually.
Assuming no withdrawals, after five years the account would be approximately:
$130,696
That represents approximately $30,696 in growth before applicable taxes.
This example is hypothetical and is not a quote or illustration for a particular insurance product.
Can You Use IRA Money to Purchase a MYGA?
Yes. Many MYGAs can accept qualified retirement assets, including IRA money.
Depending on your circumstances, retirement assets may be transferred directly between financial institutions without creating an immediate taxable distribution.
Tax rules can be complicated, so transfers and rollovers should be handled correctly and discussed with an appropriate tax professional when necessary.
What Happens at the End of a MYGA?
When the guarantee period ends, the contract typically provides options that may include renewing, withdrawing the funds or moving the money to another annuity.
Owners of non-qualified annuities may also be able to complete a qualifying 1035 exchange into another annuity without recognizing the accumulated gain at the time of the exchange, provided applicable tax requirements are satisfied.
This is why it is important to review your MYGA before its guarantee period expires rather than automatically accepting a renewal rate.
Who Should Consider a MYGA?
A MYGA may be worth considering if you:
- Want a predictable interest rate
- Want to reduce direct stock-market exposure for part of your savings
- Have money you won’t need immediately
- Are approaching or already in retirement
- Want to compare alternatives to CDs and money-market accounts
- Want tax-deferred accumulation for non-qualified savings
MYGAs generally should not be purchased with money you expect to need for short-term expenses or emergencies.
Compare MYGA Annuity Rates in South Carolina
The best MYGA for a South Carolina resident isn’t necessarily the annuity with the biggest number in an advertisement.
The goal is to find the appropriate combination of competitive rate, strong insurance company, suitable guarantee period and acceptable liquidity provisions.
Mintco Financial can help you compare MYGA and fixed annuity options from multiple insurance companies before you make a decision.
Ready to Compare South Carolina MYGA Rates?
Compare multiple insurance companies before deciding where to place your retirement savings.
South Carolina MYGA Frequently Asked Questions
What are MYGA rates in South Carolina right now?
As of August 2026, competitive MYGA rates in the South Carolina marketplace are above 5% for a number of guarantee periods, with some standard MYGAs approaching 6%. Rates vary by carrier, term, premium amount and contract.
Are MYGA rates guaranteed?
The applicable MYGA interest rate is guaranteed according to the terms of the insurance contract for its stated guarantee period.
Are MYGAs safe?
MYGAs are fixed insurance products and are not directly invested in the stock market. However, they are not bank deposits and are not FDIC insured. Guarantees depend on the financial strength and claims-paying ability of the issuing insurance company.
What is the best MYGA term?
There is no single best term. A 3-year MYGA provides a shorter commitment, while 5-, 7- and 10-year MYGAs can lock in a rate for longer. Your liquidity needs and expectations about future interest rates should be considered.
How much money do I need for a MYGA?
Minimum premiums vary significantly. Some products can be opened with $10,000 or $20,000, while certain higher-rate tiers may require $70,000, $100,000 or more.
Disclosure:
Rates shown are examples based on information available as of August 17, 2026 and are subject to change without notice. Product and rate availability may vary in South Carolina. Minimum premiums, maximum issue ages, surrender charges and withdrawal provisions vary by contract. 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 insurer. 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 should not be considered tax or legal advice.