The product CD 4-year Account from Merrick Bank with 3.60% APY and $25,000 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 $28,486. The interest earned would be $8,486 and the tax amount on the interest earned would be approximately $2,546.
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: 0.82% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 164 | 115 |
| 2 | 20,164 | 165 | 116 |
| 3 | 20,329 | 166 | 117 |
| 4 | 20,495 | 168 | 118 |
| 5 | 20,663 | 169 | 118 |
| 6 | 20,833 | 171 | 119 |
| 7 | 21,003 | 172 | 120 |
| 8 | 21,175 | 173 | 121 |
| 9 | 21,349 | 175 | 122 |
| 10 | 21,523 | 176 | 123 |
| TOTAL: | $1,700 | $1,190 |
| Rate: 3.60% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 720 | 504 |
| 2 | 20,720 | 746 | 522 |
| 3 | 21,466 | 773 | 541 |
| 4 | 22,239 | 801 | 560 |
| 5 | 23,039 | 829 | 581 |
| 6 | 23,869 | 859 | 601 |
| 7 | 24,728 | 890 | 623 |
| 8 | 25,618 | 922 | 646 |
| 9 | 26,540 | 955 | 669 |
| 10 | 27,496 | 990 | 693 |
| TOTAL: | $8,486 | $5,940 |
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 |
|---|---|
| September 19, 2025 | 3.60% |
| September 3, 2025 | 3.75% |
| August 2, 2025 | 3.90% |
| June 24, 2025 | 4.05% |
| May 14, 2025 | 3.85% |
| May 10, 2025 | 4.00% |
| March 18, 2025 | 4.10% |
| February 26, 2025 | 4.20% |
| December 23, 2024 | 3.95% |
| December 3, 2024 | 4.05% |
| November 17, 2024 | 4.00% |
| September 22, 2024 | 3.75% |
| September 13, 2024 | 3.90% |
| September 6, 2024 | 3.95% |
| August 30, 2024 | 3.90% |
| January 9, 2024 | 4.10% |
| January 5, 2024 | 4.20% |
| December 29, 2023 | 4.30% |
| December 19, 2023 | 4.40% |
| December 12, 2023 | 4.65% |
| November 10, 2023 | 4.70% |
| October 31, 2023 | 4.75% |
| October 10, 2023 | 4.90% |
| September 22, 2023 | 4.80% |
| September 8, 2023 | 4.60% |
| August 20, 2023 | 4.30% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.20% |
$1,000 |
Learn More | |
|
Last change: ↑0.05% on December 1. |
||||
|
|
4.15% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 1. |
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|
|
4.15% |
$1,000 |
Learn More | |
|
Last change: ↑0.10% on December 1. |
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|
|
4.10% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on November 26. |
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Customer Reviews for Merrick Bank (3)
Frank M
July 3, 2023 |
A 2% early withdrawal fee on a 1-year CD is almost equally insane as a 270 day one.
Is this review helpful? Yes:0 / No: 0
Al
April 12, 2021 | | Replies 1
Frustrating. The initial application form is a breeze. Then the problems start. Many hoops to jump through.
Is this review helpful? Yes:3 / No: 1
Senior Citizens -JSW | Oct 16, 2022
I tried to open CD on 10/14/22. No success. I believed that I was connected to someone else, not a bank. I will contact Police/FBI to make sure who got my all personal data.
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