A CD pays taxes every year. A MYGA defers them until you withdraw. This calculator shows what that difference means for your money — using your deposit, your rates, and your tax bracket.
This is a simplified educational illustration, not tax or investment advice. It assumes CD interest is taxed each year at your marginal rate and MYGA growth is taxed once at withdrawal at the same rate. Actual results depend on the rates available to you, your state, your full tax picture, and the specific products — and withdrawing MYGA gains before age 59½ may incur an additional 10% federal penalty. Confirm your situation with a qualified tax professional.
The MYGA rate you entered is hypothetical — the real ones are on the rate tool, updated from Annuity Rate Watch. And if you'd like a personalized comparison against your actual CD renewal offer, Devin will run one for free.