The product Money Market Account from Bank of Colorado with 3.56% APY and $300,000 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 $28,376. The interest earned would be $8,376 and the tax amount on the interest earned would be approximately $2,513.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
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.
| 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 |
| Rate: 3.56% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 712 | 498 |
| 2 | 20,712 | 737 | 516 |
| 3 | 21,449 | 764 | 535 |
| 4 | 22,213 | 791 | 554 |
| 5 | 23,004 | 819 | 573 |
| 6 | 23,823 | 848 | 594 |
| 7 | 24,671 | 878 | 615 |
| 8 | 25,549 | 910 | 637 |
| 9 | 26,459 | 942 | 659 |
| 10 | 27,400 | 975 | 683 |
| TOTAL: | $8,376 | $5,863 |
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.
| Date | APY |
|---|---|
| December 4, 2023 | 3.56% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
6.00% |
$5,000 |
Learn More | |
|
5 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%. |
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|
|
5.51% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on May 13. |
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|
|
5.46% |
$1,000 |
Learn More | |
|
Last change: ↓0.05% on May 9. |
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|
|
5.45% |
$50,000 |
Learn More | |
|
Last change: ↓0.04% on July 5. |
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|
|
5.40% |
$500 |
Learn More | |
|
Last change: ↑0.90% on May 7. |
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Customer Reviews for Bank of Colorado
LG
February 7, 2020
I contacted the massage bank and they are not offering 2.02 it’s 1.10
Is this review helpful? Yes:0 / No: 0
LG
February 7, 2020
I contacted the massage bank and they are not offering 2.02 it’s 1.10
Is this review helpful? Yes:0 / No: 0
runfasterx@aol.com
March 13, 2019 |
The employees at the Longmont branch are very friendly. It takes no time at all to open an account and purchase a C.D.
Is this review helpful? Yes:0 / No: 0
R.S.
July 26, 2018
I contacted their main branch in Fort Collins, CO. They claim they are not offering 3.28% on a 5 yr. CD w 110K Deposit.
Is this review helpful? Yes:1 / No: 0
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