HOW IS THE INTEREST RATE DETERMINED FOR MY FIXED DEFERRED ANNUITY?

During the accumulation period, your money (less any applicable charges) earns interest at rates that change from time to time.  Usually what these rates will be is entirely up to the insurance company.

Current Interest Rate Of Fixed Deferred Annuities

The current rate is the rate the company decides to credit to your contract  at a particular time.  The company will guarantee it will not change for some time period.

• The initial rate is an interest rate the insurance company may credit for a set period of time after you first buy your annuity.  The initial rate in some contracts may be higher than it will be later.  This is often called a bonus rate. 
• The renewal rate is the rate credited by the company after the end of the set time period.  The contract tells how the company will set the renewal rate, which may be tied to an external reference or index.