Compound Interest Calculator
CD 1-year Account from Lincoln 1st Bank with 0.15% APY and $10,000 minimum deposit
Use or Change These Amounts and Rates
The product CD 1-year Account from Lincoln 1st Bank with 0.15% APY and $10,000 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 $20,302. The interest earned would be $302 and the tax amount on the interest earned would be approximately $91.
Please note that this product is available in New Jersey and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
Our records indicate that this institution has been acquired by Ion Bank.
The Results for Lincoln 1st Bank
Savings Boost of
$-576 over 10 years
$-576 over 10 years
Cash Savings
$20,000
Average Interest Earned
$788
Lincoln 1st Bank Interest Earned
$211
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: 0.55% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 110 | 77 |
| 2 | 20,110 | 110 | 77 |
| 3 | 20,220 | 111 | 78 |
| 4 | 20,331 | 112 | 78 |
| 5 | 20,443 | 112 | 79 |
| 6 | 20,555 | 113 | 79 |
| 7 | 20,668 | 113 | 79 |
| 8 | 20,781 | 114 | 80 |
| 9 | 20,895 | 115 | 80 |
| 10 | 21,010 | 115 | 81 |
| TOTAL: | $1,126 | $788 |
Lincoln 1st Bank Scenario
| Rate: 0.15% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 30 | 21 |
| 2 | 20,030 | 30 | 21 |
| 3 | 20,060 | 30 | 21 |
| 4 | 20,090 | 30 | 21 |
| 5 | 20,120 | 30 | 21 |
| 6 | 20,150 | 30 | 21 |
| 7 | 20,181 | 30 | 21 |
| 8 | 20,211 | 30 | 21 |
| 9 | 20,241 | 30 | 21 |
| 10 | 20,272 | 30 | 21 |
| TOTAL: | $302 | $211 |
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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.
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Customer Reviews for Lincoln 1st Bank
1.0 out of 5 based on 2 ratings
Anthony S.
October 30, 2021 |
I’ve now had 2 failed experiences with this bank. First failure was a commercial refinancing that they completely dropped the ball on and the second was a residential purchase that was a complete disaster! Consumers beware, don’t waste your time with this incompetency. Being a business owner, I gave them the benefit of the doubt after they screwed me the first time … shame on me for not avoiding them!!! I’d strongly advise not to work with this bank or Tom Russo at Paramount Bank who they farm mortgages out to. Complete incompetence among both of them!
Is this review helpful? Yes:0 / No: 0
Unhappy
July 10, 2020 |
Boy did they drag out the process over months - with pathetic questions like why is your income higher, etc. and an absurd offer - AVOID
Is this review helpful? Yes:0 / No: 0
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