The product CD Account from Hawthorn Bank with 0.03% 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 $20,060. The interest earned would be $60 and the tax amount on the interest earned would be approximately $18.
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: 0.03% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 6 | 4 |
| 2 | 20,006 | 6 | 4 |
| 3 | 20,012 | 6 | 4 |
| 4 | 20,018 | 6 | 4 |
| 5 | 20,024 | 6 | 4 |
| 6 | 20,030 | 6 | 4 |
| 7 | 20,036 | 6 | 4 |
| 8 | 20,042 | 6 | 4 |
| 9 | 20,048 | 6 | 4 |
| 10 | 20,054 | 6 | 4 |
| TOTAL: | $60 | $42 |
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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|
|
5.60% |
$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 Hawthorn Bank (4)
mike
April 5, 2023 | | Replies 1
horrid bank with incompetent and rude staff that treat you like a problem for wanting to do banking business. As if doing there job in a problem you caused instead of a customer to be served. closed my accounts after more that ten years. Do yourself a favor and bank anywhere else.
Is this review helpful? Yes:0 / No: 0
mike also | Apr 19, 2024
sounds like someone expects the respect that they don't want to give out.
CB
November 4, 2020 |
When you open a loan, they do not put that account with your others. This makes it extremely hard to pay it. This also allows them to rack up extra interest. Our loan officer was sarcastic and rude and unhelpful about the issue. His boss did nothing about the employee's behavior and thwn the boss's boss never returned my phone call. They obviously don't care about customer service or retaining customers. The employees are allowed to say what they want and treat you how they want with no repercussions.
Is this review helpful? Yes:0 / No: 1
Lzr
September 27, 2020 |
You guys are thieves stealing from struggling families right now.
Is this review helpful? Yes:0 / No: 1
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