Compound Interest Calculator
Money Market Account from Amerant Bank, National Association with 0.05% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Amerant Bank, National Association with 0.05% APY and $2,500 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $20,100. The interest earned would be $100 and the tax amount on the interest earned would be approximately $30.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Amerant Bank, National Association

Savings Boost of
$-242 over 10 years
Cash Savings $20,000
Average Interest Earned $312

 
Amerant Bank, National Association Interest Earned $70

 

 

See comparison detail table

This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.

Comparison Detail Table Close X

Average Rate Scenario

Rate:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 44 31
2 20,044 44 31
3 20,088 44 31
4 20,133 44 31
5 20,177 45 31
6 20,222 45 31
7 20,267 45 31
8 20,311 45 31
9 20,356 45 31
10 20,401 45 32
TOTAL: $446 $312

Amerant Bank, National Association Scenario

Rate:
0.05%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 10 7
2 20,010 10 7
3 20,020 10 7
4 20,030 10 7
5 20,040 10 7
6 20,050 10 7
7 20,060 10 7
8 20,070 10 7
9 20,080 10 7
10 20,090 10 7
TOTAL: $100 $70

Take Action

The accounts below offer some of the best rates in the country can be opened online, and are available nationally. As the calculator shows, changing accounts to earn a higher interest rate can really add up over time.


Recent Rate Changes



Date APY
August 19, 2023 0.05%
August 17, 2023 0.05%
August 17, 2023 0.50%


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Advertiser Disclosure
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Customer Reviews for Amerant Bank, Formerly Mercantil Bank


  • August 30, 2023

    CDs 12 Month Rates

    Try to open account on line make you use PLAID to xfer money PLAID doesn't connect with many banks, Cannot do over phone. Discover, Penfed all ok this bank is useless.

    I had acct before still bad. Stay away.

  • January 14, 2021

    Amerant bank in next to impossible to get a hold of. I have called 5 or 6 times in a day and never been able to get someone to answer the phone. Seriously regretting doing business with them......uggh. I wish I could go back in time and go with someone else.


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