The product CD 5-year Account from Memory Bank, a division of Republic Bank & Trust Company with 3.50% APY and $1,000 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 $28,212. The interest earned would be $8,212 and the tax amount on the interest earned would be approximately $2,464.
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: 0.92% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 185 | 129 |
| 2 | 20,185 | 186 | 130 |
| 3 | 20,371 | 188 | 132 |
| 4 | 20,559 | 190 | 133 |
| 5 | 20,749 | 192 | 134 |
| 6 | 20,940 | 193 | 135 |
| 7 | 21,133 | 195 | 137 |
| 8 | 21,329 | 197 | 138 |
| 9 | 21,525 | 199 | 139 |
| 10 | 21,724 | 201 | 140 |
| TOTAL: | $1,925 | $1,347 |
| Rate: 3.50% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 700 | 490 |
| 2 | 20,700 | 725 | 507 |
| 3 | 21,425 | 750 | 525 |
| 4 | 22,174 | 776 | 543 |
| 5 | 22,950 | 803 | 562 |
| 6 | 23,754 | 831 | 582 |
| 7 | 24,585 | 860 | 602 |
| 8 | 25,446 | 891 | 623 |
| 9 | 26,336 | 922 | 645 |
| 10 | 27,258 | 954 | 668 |
| TOTAL: | $8,212 | $5,748 |
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.
| Date | APY |
|---|---|
| November 10, 2025 | 3.50% |
| September 20, 2025 | 3.75% |
| May 20, 2025 | 4.00% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.20% |
$1,500 |
Learn More | |
|
Last change: ↓0.10% on October 13. |
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|
|
4.15% |
$500 |
Learn More | |
|
|
4.15% |
$1,000 |
Learn More | |
|
Last change: ↓0.15% on October 13. |
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Customer Reviews for Memory Bank, a division of Republic Bank & Trust Company
Frank
April 8, 2019 |
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.
Is this review helpful? Yes:1 / No: 0
marquisya78
December 19, 2017
10
Is this review helpful? Yes:0 / No: 1
Gary Holland
July 21, 2017 |
It suck
Is this review helpful? Yes:0 / No: 2
Will.i.am.not
January 24, 2017 |
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.
Is this review helpful? Yes:3 / No: 2
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