The product CD 5-year Account from Bank of Utica with 4.00% APY and $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 $29,605. The interest earned would be $9,605 and the tax amount on the interest earned would be approximately $2,881.
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: 0.92% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 184 | 129 |
| 2 | 20,184 | 186 | 130 |
| 3 | 20,371 | 188 | 131 |
| 4 | 20,558 | 190 | 133 |
| 5 | 20,748 | 191 | 134 |
| 6 | 20,939 | 193 | 135 |
| 7 | 21,132 | 195 | 136 |
| 8 | 21,327 | 197 | 138 |
| 9 | 21,524 | 198 | 139 |
| 10 | 21,722 | 200 | 140 |
| TOTAL: | $1,922 | $1,346 |
| Rate: 4.00% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 800 | 560 |
| 2 | 20,800 | 832 | 582 |
| 3 | 21,632 | 865 | 606 |
| 4 | 22,497 | 900 | 630 |
| 5 | 23,397 | 936 | 655 |
| 6 | 24,333 | 973 | 681 |
| 7 | 25,306 | 1,012 | 709 |
| 8 | 26,319 | 1,053 | 737 |
| 9 | 27,371 | 1,095 | 766 |
| 10 | 28,466 | 1,139 | 797 |
| TOTAL: | $9,605 | $6,723 |
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 6, 2025 | 4.00% |
| April 15, 2024 | 4.15% |
| March 6, 2024 | 4.25% |
| February 2, 2024 | 4.50% |
| January 5, 2024 | 4.75% |
| November 3, 2023 | 5.00% |
| October 3, 2023 | 4.75% |
| September 5, 2023 | 4.50% |
| August 20, 2023 | 4.25% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.20% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on December 7. |
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|
|
4.10% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on November 26. |
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|
|
4.10% |
$500 |
Learn More | |
|
Last change: ↓0.10% on September 17. |
||||
|
|
4.10% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 8. |
||||
Customer Reviews for Bank of Utica
adirondackgirl
October 29, 2018
I believe you must live in Utica or surrounding area to qualify for opening an account with them - I inquired a few years ago
Is this review helpful? Yes:3 / No: 0
mcelwaines@aol.com
August 29, 2016
60 Mo CD -- shows 10K after. What does that mean? What other requirements?
Is this review helpful? Yes:0 / No: 0
DOROTHY J. BLAGG
July 25, 2016
CAN I OPEN AN ACCOUNT IN THIS BANK ONLINE IF SO HOW? 2708983118
Is this review helpful? Yes:10 / No: 2
dorothy blagg
July 11, 2016
Is this an online bank? How do you invest in it?
Is this review helpful? Yes:0 / No: 0
DOROTHY BLAGG
June 30, 2015
can I open an account @Bank of Utica?
270-898-3118 PADUCAH, KY 42003
Is this review helpful? Yes:9 / No: 2
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