The product CD Account from GTE with 5.12% 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 $32,952. The interest earned would be $12,952 and the tax amount on the interest earned would be approximately $3,886.
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: 0.56% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 111 | 78 |
| 2 | 20,111 | 112 | 78 |
| 3 | 20,223 | 112 | 79 |
| 4 | 20,335 | 113 | 79 |
| 5 | 20,449 | 114 | 80 |
| 6 | 20,562 | 114 | 80 |
| 7 | 20,677 | 115 | 80 |
| 8 | 20,792 | 116 | 81 |
| 9 | 20,907 | 116 | 81 |
| 10 | 21,023 | 117 | 82 |
| TOTAL: | $1,140 | $798 |
| Rate: 5.12% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 1,024 | 717 |
| 2 | 21,024 | 1,076 | 754 |
| 3 | 22,100 | 1,132 | 792 |
| 4 | 23,232 | 1,189 | 833 |
| 5 | 24,421 | 1,250 | 875 |
| 6 | 25,672 | 1,314 | 920 |
| 7 | 26,986 | 1,382 | 967 |
| 8 | 28,368 | 1,452 | 1,017 |
| 9 | 29,820 | 1,527 | 1,069 |
| 10 | 31,347 | 1,605 | 1,123 |
| TOTAL: | $12,952 | $9,066 |
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.
| Date | APY |
|---|---|
| November 7, 2023 | 5.12% |
| August 20, 2023 | 2.02% |
| 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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|
|
5.60% |
$500 |
Learn More | |
|
Last change: ↑0.60% on April 19. |
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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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Customer Reviews for Gte
Run Away As Fast As You Can
August 15, 2019 |
I applied for a jumbo CD account over two weeks ago. They asked me for more documentation than my mortgage company did and then they did a hard credit pull. They advertise fast and simple they are simply not. I’ve provided everything (my drivers license, social security card, complete bank statement, picture of my debit card and a copy of my utility bill) and the account still isn't open. Absolute worst customer service ever.
Is this review helpful? Yes:4 / No: 1
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