The product Money Market Account from Great Western Bank with 0.01% 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 $20,020. The interest earned would be $20 and the tax amount on the interest earned would be approximately $6.
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: 0.01% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 2 | 1 |
| 2 | 20,002 | 2 | 1 |
| 3 | 20,004 | 2 | 1 |
| 4 | 20,006 | 2 | 1 |
| 5 | 20,008 | 2 | 1 |
| 6 | 20,010 | 2 | 1 |
| 7 | 20,012 | 2 | 1 |
| 8 | 20,014 | 2 | 1 |
| 9 | 20,016 | 2 | 1 |
| 10 | 20,018 | 2 | 1 |
| TOTAL: | $20 | $14 |
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% |
$50,000 |
Learn More | |
|
Last change: ↑0.09% on March 12. |
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Customer Reviews for Great Western Bank
Rick
January 23, 2022 |
I left this bank for 2 reasons. First, they closed some of their branch banks on Saturday without notifying customers ahead of time. Secondly, I had a CD with them and wanted the bank to be relatively close to what other banks were offering on interest. No dice. The gentleman did not even provide a figure. So I closed my accounts with them that day. This bank is NOT customer friendly like it used to be.
Is this review helpful? Yes:0 / No: 0
Marion
August 22, 2021
GREAT WESTERN is making big changes to individual checking accounts
First they eliminating all VIP interest checking accounts
Fees will be charged for paper statements
Cashiers checks 9$
Monthly service charges unless your 1= your over 60, 2= your monthly deposits must total 250$ per statement cycle 3= must maintain $1000.00 per statement
This is definitely not a friendly bank for retirees nor anyone who only receives a small monthly social security check to live on
Is this review helpful? Yes:0 / No: 0
eric lie
March 7, 2020
do not let a cd automaticaly rollover-you will not be given a fair rate
Is this review helpful? Yes:0 / No: 0
Mom2thirteen
October 15, 2018 |
VOID THIS BANK! I have had a savings account for many years. I went in to close the account. It took the lady forever typing away...putting in the account number multiple times. Finally a check pops out of the printer. I told her I didn't want a check, I wanted cash (it wasn't much money). She tells me that it automatically prints out a check. I reiterated that I wanted cash. She proceeds to tell me that in order to cash the check they will have to charge me a fee because I no longer have an account at that bank. This is a check that was written with their bank name all over it. This is an amount of money that they know was in their bank 15 minutes ago...so it isn't going to over draft. This is all about getting every single cent in fees that they can get. I am beyond upset! I would NEVER EVER give them another single cent!!!!
Is this review helpful? Yes:2 / No: 0
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