The product CD 1-year Account from Bask Bank, a division of Texas Capital Bank with 4.90% APY and $1,000 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 $32,269. The interest earned would be $12,269 and the tax amount on the interest earned would be approximately $3,681.
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: 0.56% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 112 | 78 |
| 2 | 20,112 | 112 | 79 |
| 3 | 20,224 | 113 | 79 |
| 4 | 20,337 | 114 | 80 |
| 5 | 20,451 | 114 | 80 |
| 6 | 20,565 | 115 | 80 |
| 7 | 20,680 | 116 | 81 |
| 8 | 20,796 | 116 | 81 |
| 9 | 20,912 | 117 | 82 |
| 10 | 21,029 | 118 | 82 |
| TOTAL: | $1,147 | $803 |
| Rate: 4.90% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 980 | 686 |
| 2 | 20,980 | 1,028 | 720 |
| 3 | 22,008 | 1,078 | 755 |
| 4 | 23,086 | 1,131 | 792 |
| 5 | 24,218 | 1,187 | 831 |
| 6 | 25,404 | 1,245 | 871 |
| 7 | 26,649 | 1,306 | 914 |
| 8 | 27,955 | 1,370 | 959 |
| 9 | 29,325 | 1,437 | 1,006 |
| 10 | 30,762 | 1,507 | 1,055 |
| TOTAL: | $12,269 | $8,588 |
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 |
|---|---|
| September 9, 2024 | 4.90% |
| August 12, 2024 | 5.00% |
| August 1, 2024 | 5.25% |
| June 10, 2024 | 5.30% |
| March 7, 2024 | 5.20% |
| December 14, 2023 | 5.40% |
| October 17, 2023 | 5.60% |
| August 20, 2023 | 5.15% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
5.51% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on May 13. |
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|
|
5.34% |
$500 |
Learn More | |
|
|
5.30% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on August 7. |
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|
|
5.20% |
$500 |
Learn More | |
|
Last change: ↓0.10% on August 16. |
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|
|
5.20% |
$2,500 |
Learn More | |
|
Last change: ↑5.10% on August 12. |
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Customer Reviews for Bask Bank, a division of Texas Capital Bank
smithy1968
April 20, 2024 |
Save your tears for another day. Very frustrating. 1-star.
Is this review helpful? Yes:4 / No: 0
Tad Grace
August 25, 2023 |
I always appreciated Bask Bank for the instant transfers out and the immediate credit when transferring in. Recently, transfers in on a Thursday aren't credited until the following Monday, even though the money is drawn. I may go somewhere else.
Is this review helpful? Yes:2 / No: 2
trader jack
April 27, 2023 |
I finally transitioned from the American miles earning account to the interest savings product. The savings rate became so high that it made sense, even vs 2 miles per $. I had been very happy with Bask already as a mileage account and am happy as an interest account. The transition was not seemless (needed to call). That is my only complaint and since it doesn't affect most I give it 5.
Is this review helpful? Yes:4 / No: 0
Long term depositor
April 3, 2023 |
I've been with Bask for a long time now. I first opened with them before the pandemic to earn American miles instead of a low rate. I continued through the pandemic and racked up enough American miles to meet all of me and my wife's travel needs for the next decade. Moved over to the savings account a couple months ago as rates began climbing. Never a problem or even a concern. Now planning to take out a CD with them. I'd recommend it to anyone.
Is this review helpful? Yes:6 / No: 0
SHG
March 2, 2023 |
Best bank on the list. By a country mile.
Is this review helpful? Yes:0 / No: 0
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