See exactly how a Multi-Year Guaranteed Annuity grows your money — year by year, with annual compounding. Compare your result to what a CD would earn after taxes.
Enter your deposit amount, interest rate, and term. Results show annual compounding — the same way MYGAs actually work.
| Year | Starting Balance | Interest Earned | Ending Balance | CD After Tax* | MYGA Advantage |
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See the top MYGA rates available to New Jersey residents right now — or reach out for a personalized comparison.
A Multi-Year Guaranteed Annuity (MYGA) is a fixed annuity issued by an insurance company. You deposit a lump sum, lock in a guaranteed interest rate for a set term — typically 2 to 10 years — and your money compounds annually at that rate until maturity.
Unlike a bank CD, your interest grows tax-deferred — meaning you don't pay taxes on the growth each year. Every dollar that would have gone to taxes stays in your account, compounding. Over a 5 or 10-year term, that difference adds up to real money.
Your principal is fully protected. You cannot lose money due to market performance. At the end of the term, you receive your deposit plus all accumulated interest.