The product CD 2-year Account from Gwinnett Community Bank with 0.20% APY and $100,000 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 $20,404. The interest earned would be $404 and the tax amount on the interest earned would be approximately $121.
Please note that this product is available in Georgia and 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: 0.66% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 132 | 93 |
| 2 | 20,132 | 133 | 93 |
| 3 | 20,265 | 134 | 94 |
| 4 | 20,399 | 135 | 94 |
| 5 | 20,534 | 136 | 95 |
| 6 | 20,670 | 137 | 96 |
| 7 | 20,806 | 138 | 96 |
| 8 | 20,944 | 138 | 97 |
| 9 | 21,082 | 139 | 98 |
| 10 | 21,222 | 140 | 98 |
| TOTAL: | $1,362 | $953 |
| Rate: 0.20% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 40 | 28 |
| 2 | 20,040 | 40 | 28 |
| 3 | 20,080 | 40 | 28 |
| 4 | 20,120 | 40 | 28 |
| 5 | 20,160 | 40 | 28 |
| 6 | 20,201 | 40 | 28 |
| 7 | 20,241 | 40 | 28 |
| 8 | 20,282 | 41 | 28 |
| 9 | 20,322 | 41 | 28 |
| 10 | 20,363 | 41 | 29 |
| TOTAL: | $404 | $283 |
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? | ||
|---|---|---|---|---|
|
|
4.55% |
$1,000 |
Learn More | |
|
Last change: ↓0.50% on October 1, 2024. |
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|
|
4.50% |
$500 |
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|
Last change: ↑0.20% on January 18. |
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|
|
4.50% |
$50,000 |
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|
Last change: ↓0.05% on April 30. |
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|
|
4.50% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on April 9. |
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|
|
4.46% |
$50,000 |
Learn More | |
|
Last change: ↑0.26% on April 9. |
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Customer Reviews for Gwinnett Community Bank
cclower101
February 27, 2019 |
5stars
Is this review helpful? Yes:1 / No: 0
Roger Smith
September 25, 2016
looking at this bank financial reviews, I don't understand why the FDIC keep it open.
Is this review helpful? Yes:3 / No: 0
Joseph
July 22, 2015
This bank has a texas ratio of about 384. It has been losing deposits with the rate of almost $ 10 millions per quarter. In my opinion it will close down soon.
Is this review helpful? Yes:2 / No: 0
Jason
January 14, 2015
Great bank, great people!
Is this review helpful? Yes:0 / No: 3
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