Compound Interest Calculator
Money Market Account from Memory Bank, a division of Republic Bank & Trust Company with 0.25% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Memory Bank, a division of Republic Bank & Trust Company with 0.25% APY and $0 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 $20,506. The interest earned would be $506 and the tax amount on the interest earned would be approximately $152.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Memory Bank, a division of Republic Bank & Trust Company

Savings Boost of
$43 over 10 years
Cash Savings $20,000
Average Interest Earned $311

 
Memory Bank, a division of Republic Bank & Trust Company Interest Earned $354

 

 

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:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 44 31
2 20,044 44 31
3 20,088 44 31
4 20,132 44 31
5 20,177 44 31
6 20,221 44 31
7 20,265 45 31
8 20,310 45 31
9 20,355 45 31
10 20,400 45 31
TOTAL: $444 $311

Memory Bank, a division of Republic Bank & Trust Company Scenario

Rate:
0.25%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 50 35
2 20,050 50 35
3 20,100 50 35
4 20,150 50 35
5 20,201 51 35
6 20,251 51 35
7 20,302 51 36
8 20,353 51 36
9 20,404 51 36
10 20,455 51 36
TOTAL: $506 $354

Take Action

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 Memory Bank, a division of Republic Bank & Trust Company


  • April 8, 2019 |

    Online Checking Rates

    Their online interface is circa 2004. They limit the number of accounts you can set up for ACH. And they sit on ACH transfers.... for days. Not sure if the good rates are worth it.

  • December 19, 2017

    Online Checking Rates

    10

  • July 21, 2017 |

    Online Checking Rates

    It suck

  • January 24, 2017 |

    Online Checking Rates

    This one struck me as interesting, but nobody answered when I tried to do online chat and nobody called me back either so I am moving along.


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