Compound Interest Calculator
Money Market Account from Gateway First Bank with 3.50% APY and $25,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Gateway First Bank with 3.50% APY and $25,000 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 $28,212. The interest earned would be $8,212 and the tax amount on the interest earned would be approximately $2,464.

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 Gateway First Bank

Savings Boost of
$5,436 over 10 years
Cash Savings $20,000
Average Interest Earned $312

 
Gateway First Bank Interest Earned $5,748

 

 

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 44 31
2 20,044 44 31
3 20,088 44 31
4 20,133 44 31
5 20,177 45 31
6 20,222 45 31
7 20,267 45 31
8 20,311 45 31
9 20,356 45 31
10 20,401 45 32
TOTAL: $446 $312

Gateway First Bank Scenario

Rate:
3.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 700 490
2 20,700 725 507
3 21,425 750 525
4 22,174 776 543
5 22,950 803 562
6 23,754 831 582
7 24,585 860 602
8 25,446 891 623
9 26,336 922 645
10 27,258 954 668
TOTAL: $8,212 $5,748

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.



Featured CD Rates

Advertiser Disclosure
ONLINE BANKS APY? MIN?

5.15% APY, 13-Month Online CD. Easy online application. Interest compounded daily. FDIC Insured.

12-Month

5.15% APY, 13-Month Online CD. Easy online application. Interest compounded daily. FDIC Insured.

13-Month

Save for the things you want later. Easy online application.

7-Month

7-Month CD Special - Save for the things you want later. Easy online application.

6-Month

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%.



Customer Reviews for Gateway First Bank


  • October 11, 2020

    You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pages of documentation and even this page of customer reviews.

    I dealt with three of the bank's employees who were aware of the existence of this material and, after ten hours of filling in forms and submitting data to Guardian First I was told that the bank was not responsible for the material on these pages and that all this material was a responsility of BestCashCow. The bank would not honor the CD rate that appeared in two (or more) places on these pages.

    While this may sound like the old "bait and switch" fraud - you see an ad for something you dearly want at a very good price but after you drive 20 miles to pick up the product you are told that price results from a mistake - I am not accusing Guardian of Bait and Switch. I am saying that a responsible bank should monitor and correct what they know others are saying about it and in my opinion Guardian is not a very responsible bank. In my opinion there are many more responsible banks and you should think twice of dealing with Guardian.

    I am thinking of submitting a negative yelp on Guardian.

  • May 11, 2020 |

    Online transfer limit is $2000 per transfer. If you have a lot of money to move in or out, don't use this bank.

  • March 26, 2020 |

    Online CDs 12 Month Rates

    Easy! Great rate!


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