The product CD Account from First Bank & Trust with 0.45% 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 $20,918. The interest earned would be $918 and the tax amount on the interest earned would be approximately $276.
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: 0.65% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 131 | 91 |
| 2 | 20,131 | 131 | 92 |
| 3 | 20,262 | 132 | 93 |
| 4 | 20,394 | 133 | 93 |
| 5 | 20,528 | 134 | 94 |
| 6 | 20,662 | 135 | 94 |
| 7 | 20,797 | 136 | 95 |
| 8 | 20,932 | 137 | 96 |
| 9 | 21,069 | 138 | 96 |
| 10 | 21,207 | 138 | 97 |
| TOTAL: | $1,345 | $942 |
| Rate: 0.45% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 90 | 63 |
| 2 | 20,090 | 90 | 63 |
| 3 | 20,180 | 91 | 64 |
| 4 | 20,271 | 91 | 64 |
| 5 | 20,362 | 92 | 64 |
| 6 | 20,454 | 92 | 64 |
| 7 | 20,546 | 92 | 65 |
| 8 | 20,639 | 93 | 65 |
| 9 | 20,731 | 93 | 65 |
| 10 | 20,825 | 94 | 66 |
| TOTAL: | $918 | $643 |
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 First Bank & Trust
BLONDEDOG
January 12, 2023
Everything will be fine until you have a problem with a charge. I have been disputing an unauthorized charge for nine months without any resolution. I haven't been presented any evidence in that time that the charge is valid-and the balance is once again showing that I owe it. They seem to have a strategy of making it as hard as possible to communicate by offering only mail and fax to communicate with their different deadlines. Also, customer service will make it as hard as possible as well to solve the issue by simply just hanging -up, with one day hanging-up on me 5 times. It's hard to believe there is any investigation at all regarding my unauthorized charge-they just want you to go away. I have had to file a complaint with the FDIC for help in dealing with this bank's credit card department in hopes of resolving this before I terminate the account. Do not use this bank.
Is this review helpful? Yes:0 / No: 0
BLONDEDOG
January 7, 2023 |
Everything will be fine until you have a problem with a charge. I have been disputing an unauthorized charge for nine months with no resolution. I haven't been presented any evidence in that time that the charge is valid-and the balance is once again showing that I owe it. They seem to have a strategy of making it as hard as possible to communicate by offering only mail and fax to communicate with their different deadlines. Also, customer service will make it as hard as possible as well to solve the issue by simply just hanging -up, with one day hanging-up on me 5 times. It's hard to believe there is any investigation at all regarding my unauthorized charge-they just want you to go away. I have had to file a complaint with the FDIC for help in dealing with this bank's credit card department in hopes of resolving this before I terminate the account. Do not use this bank.
Is this review helpful? Yes:0 / No: 0
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