Compound Interest Calculator
Savings Account from Gateway First Bank with 1.50% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Gateway First Bank with 1.50% APY and $0 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 $23,211. The interest earned would be $3,211 and the tax amount on the interest earned would be approximately $963.

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
$1,932 over 10 years
Cash Savings $20,000
Average Interest Earned $315

 
Gateway First Bank Interest Earned $2,248

 

 

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 45 31
2 20,045 45 31
3 20,089 45 31
4 20,134 45 31
5 20,179 45 31
6 20,224 45 32
7 20,269 45 32
8 20,314 45 32
9 20,360 45 32
10 20,405 46 32
TOTAL: $451 $315

Gateway First Bank Scenario

Rate:
1.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 300 210
2 20,300 305 213
3 20,605 309 216
4 20,914 314 220
5 21,227 318 223
6 21,546 323 226
7 21,869 328 230
8 22,197 333 233
9 22,530 338 237
10 22,868 343 240
TOTAL: $3,211 $2,248

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
January 13, 2025 1.50%
November 4, 2024 2.00%
July 31, 2024 2.50%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↓0.50% on October 1, 2024.

Last change: ↑0.20% on January 18.

Last change: ↓0.05% on April 30.
6 Month Jumbo CD.

Last change: ↑0.20% on April 9.

Last change: ↓0.50% on February 25.



Customer Reviews for Gateway First Bank


  • June 25, 2020

    Online CDs 12 Month Rates

    Ok, GFB's site a bit more compliant today. Unfortunately the rate posted here is not current. 1.05% and look at that minimum!

  • June 17, 2020

    Online Savings Rates

    Perhaps someone would enlighten me, this product seems to be unavailable -?- GFB does list an interest rate for a savings account but offers no opportunity to open such.

  • April 27, 2020 |

    Online CDs 12 Month Rates

    I was very impressed with the safety when setting up my CD.


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