The product CD Account from Mainstreet Community Bank of Florida with 0.70% 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 $21,445. The interest earned would be $1,445 and the tax amount on the interest earned would be approximately $433.
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: 0.66% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 131 | 92 |
| 2 | 20,131 | 132 | 92 |
| 3 | 20,263 | 133 | 93 |
| 4 | 20,396 | 134 | 94 |
| 5 | 20,529 | 134 | 94 |
| 6 | 20,664 | 135 | 95 |
| 7 | 20,799 | 136 | 95 |
| 8 | 20,935 | 137 | 96 |
| 9 | 21,072 | 138 | 97 |
| 10 | 21,210 | 139 | 97 |
| TOTAL: | $1,349 | $945 |
| Rate: 0.70% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 140 | 98 |
| 2 | 20,140 | 141 | 99 |
| 3 | 20,281 | 142 | 99 |
| 4 | 20,423 | 143 | 100 |
| 5 | 20,566 | 144 | 101 |
| 6 | 20,710 | 145 | 101 |
| 7 | 20,855 | 146 | 102 |
| 8 | 21,001 | 147 | 103 |
| 9 | 21,148 | 148 | 104 |
| 10 | 21,296 | 149 | 104 |
| TOTAL: | $1,445 | $1,011 |
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 Mainstreet Community Bank of Florida
melissaowens
April 1, 2022 |
This bank is the absolute worst along with [name redacted] and [name redacted]. Their communication is horrible, they lie and are negligent. They told me I was approved for a commercial loan so I moved forward with putting a LARGE non-refundable deposit down on a property only to find out 24 hours after that they could not move forward on the loan. They do not answer their phone, they are not timely manner and the reasons for disapproving the commercial loan were not accurate only trying to brush me off after messing around with 10s of thousands of dollars of mine.
Is this review helpful? Yes:0 / No: 0
Steven Smith
January 29, 2022 |
Wonderful bank, great staff. Very competitive rates. We really appreciate the help from the staff at the Holly Hill location.
Is this review helpful? Yes:0 / No: 0
Paul E. Kerouac
January 11, 2019 |
1/2 star this Bank takes advantage of this Commercial Customer. I had a loan and my tenant in my building failed our contract agreement. This Bank charged me 18% interest. After 50 years of Banking I never would of believed they would raise my rate to 18%. To further my complaint they blamed their Atty Atty. HG Paul and when I called Atty. Paul he blamed the Bank! B.S. from both they don’t deserve any stars, they failed the Customer. Paul Kerouac Sr.
Is this review helpful? Yes:1 / No: 0
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