Compound Interest Calculator
Money Market Account from Brilliant Bank, a division of Equity Bank with 5.35% APY and $2,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Brilliant Bank, a division of Equity Bank with 5.35% APY and $2,000 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 $33,680. The interest earned would be $13,680 and the tax amount on the interest earned would be approximately $4,104.

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 Brilliant Bank, a division of Equity Bank

Savings Boost of
$9,269 over 10 years
Cash Savings $20,000
Average Interest Earned $307

 
Brilliant Bank, a division of Equity Bank Interest Earned $9,576

 

 

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 43 30
2 20,043 43 30
3 20,087 44 31
4 20,130 44 31
5 20,174 44 31
6 20,218 44 31
7 20,262 44 31
8 20,306 44 31
9 20,350 44 31
10 20,394 44 31
TOTAL: $438 $307

Brilliant Bank, a division of Equity Bank Scenario

Rate:
5.35%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,070 749
2 21,070 1,127 789
3 22,197 1,188 831
4 23,385 1,251 876
5 24,636 1,318 923
6 25,954 1,389 972
7 27,342 1,463 1,024
8 28,805 1,541 1,079
9 30,346 1,624 1,136
10 31,970 1,710 1,197
TOTAL: $13,680 $9,576

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
November 1, 2023 5.35%
August 20, 2023 4.65%


Featured CD Rates

ONLINE BANKS APY? MIN?

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%.

Last change: ↓0.15% on May 13.
3 Month CD.

Last change: ↑0.09% on March 12.
6 Month Jumbo CD.

Last change: ↓0.05% on May 9.

Last change: ↓0.36% on March 12.
Early Withdrawal Penalty is 3 months interest.



Customer Reviews for Brilliant Bank, a division of Equity Bank


  • May 30, 2023 |

    They really do pay this amount, but the account lacks any functionality and they are constantly looking for some sort of add-on fee to enable them to claw back the interest. Any bank with a higher rate and many with lower rates are better than Brilliant.

  • March 11, 2023 |

    Dreadful beyond words. Stay away!

  • February 7, 2023 |

    Stay away from these clowns, they will charge xrazy fees and when you have finally had it and cancel account, the final insult, no interest for the month. The worst bank I have seen in 15 years. BYE BYE BYE...................

  • November 30, 2022 |

    They charged me for an ACH transfer. I've been banking online for 20 years and this is the first time I have seen this. It is also the last. Moving along down the list to the next bank ...

  • October 11, 2022 |

    Well intended, but not exactly brilliant. Feels too much like a mom and pop operation and not a place where I want my cash held in an evolving economy. I will move along shortly.


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