The product CD Account from CresCom Bank with 0.80% APY 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 $21,659. The interest earned would be $1,659 and the tax amount on the interest earned would be approximately $498.
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 | 43 | 30 |
| 2 | 20,043 | 43 | 30 |
| 3 | 20,086 | 43 | 30 |
| 4 | 20,129 | 43 | 30 |
| 5 | 20,173 | 43 | 30 |
| 6 | 20,216 | 43 | 30 |
| 7 | 20,259 | 44 | 30 |
| 8 | 20,303 | 44 | 31 |
| 9 | 20,347 | 44 | 31 |
| 10 | 20,390 | 44 | 31 |
| TOTAL: | $434 | $304 |
| Rate: 0.80% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 160 | 112 |
| 2 | 20,160 | 161 | 113 |
| 3 | 20,321 | 163 | 114 |
| 4 | 20,484 | 164 | 115 |
| 5 | 20,648 | 165 | 116 |
| 6 | 20,813 | 167 | 117 |
| 7 | 20,979 | 168 | 117 |
| 8 | 21,147 | 169 | 118 |
| 9 | 21,316 | 171 | 119 |
| 10 | 21,487 | 172 | 120 |
| TOTAL: | $1,659 | $1,161 |
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.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
6.00% |
$5,000 |
Learn More | |
|
6 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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|
|
5.66% |
$25,000 |
Learn More | |
|
Last change: ↑0.46% on December 15, 2023. |
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|
|
5.50% |
$500 |
Learn More | |
|
Last change: ↑0.20% on September 8, 2023. |
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|
|
5.50% |
$10,000 |
Learn More | |
|
Last change: ↓0.05% on March 15. |
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|
|
5.49% |
$50,000 |
Learn More | |
|
Last change: ↑0.09% on March 12. |
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Customer Reviews for CresCom Bank
m c
July 30, 2020 |
Awful bank
Is this review helpful? Yes:0 / No: 0
Daughtridge
February 27, 2020
Horrible bank. Terrible customer service at every single branch I have visited or contacted and online banking so limited. I miss First South Bank sooo much. They were amazing and CresCom just plain sucks all around
Is this review helpful? Yes:0 / No: 0
tylersmithawake
August 15, 2019 |
Worst bank I've ever used. If you want unnecessary limits and only want to have access to your money Monday-Friday 8:30am-5:00pm then this is the bank for you! And don't even think about shopping online or traveling out of your home state! They will shut down your card and if that happens on Friday evening it means you won't have any money until Monday morning. The people that make and administer the policies of this bank are absolute idiots.
Is this review helpful? Yes:1 / No: 0
glenna rogers
April 1, 2019 |
great service good rates on cd's
Is this review helpful? Yes:1 / No: 0
Lisa
August 31, 2018
I have banked with them for 2 years and never had an issue until I went in one day and asked about a small auto loan. I own my house, I own 2 other vehicles, and had more money in the bank than I was trying to borrow. I asked about taking out a short term loan for $2000 for the sole purpose of building my credit. I then listened to the lady talk about a home equity line for 30 minutes, only to be told at the end that my credit score of 645 was not good enough to get me any kind of loan with their bank .... even with a co-signer who had perfect credit. I was appauled. I understand that my credit score is only "fair" and that they must factor this into their decision. However, common sense has to be a factor as well. If someone signed with me who has a credit score of 820, and I had the title in hand to a car worth $10,000 ..... there is absolutely NO REASON why this bank should have denied me access to a $2000 loan. I was told they DO NOT LOAN MONEY TO ANYONE, UNDER ANY CIRCUMSTANCES, UNLESS THEY HAVE A CREDIT SCORE OF 660 OR ABOVE. I left there, drove down the street to my former bank, BB&T, and had no issue getting a loan for the $2000 using my other car as collateral .... with my credit score of 645. So, I pulled all of my money out of this "SNOOTY" bank and put it in an account with BB&T ...... I HIGHLY RECCOMEND EVERYONE ELSE DO THE SAME. If I could, I would give them 0 stars.
Is this review helpful? Yes:2 / No: 0
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