The product CD Account from MINNCO with 0.75% 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 $21,552. The interest earned would be $1,552 and the tax amount on the interest earned would be approximately $465.
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: 0.65% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 131 | 92 |
| 2 | 20,131 | 132 | 92 |
| 3 | 20,262 | 133 | 93 |
| 4 | 20,395 | 133 | 93 |
| 5 | 20,528 | 134 | 94 |
| 6 | 20,663 | 135 | 95 |
| 7 | 20,798 | 136 | 95 |
| 8 | 20,934 | 137 | 96 |
| 9 | 21,071 | 138 | 96 |
| 10 | 21,208 | 139 | 97 |
| TOTAL: | $1,347 | $943 |
| Rate: 0.75% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 150 | 105 |
| 2 | 20,150 | 151 | 106 |
| 3 | 20,301 | 152 | 107 |
| 4 | 20,453 | 153 | 107 |
| 5 | 20,607 | 155 | 108 |
| 6 | 20,761 | 156 | 109 |
| 7 | 20,917 | 157 | 110 |
| 8 | 21,074 | 158 | 111 |
| 9 | 21,232 | 159 | 111 |
| 10 | 21,391 | 160 | 112 |
| TOTAL: | $1,552 | $1,086 |
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 Minnco
Dchbuckeye
October 27, 2021
Incompetent and I am annoyed! I financed an ATV thru Minnco. A year into the loan. I started to receive threading letters to prove I had insurance. Which I had from Progressive since day 1. After 3 calls trying to send policy information….That wasn’t good enough. I saw on my account a charge for “their” insurance . I called an questioned why they didn’t get a hold of Progressive like they said they would. And I quote “ we have tried and tried and can not reach anyone at Progressive” I am completely enraged. I called Progressive within 3 minutes!! I had merged Minnco and Progressive on the phone!! There was simple digits errors on the vin#. What took Minnco over a year…. I handled in 3 minutes!
This appears to be a Minnco money grab to me.
Real simple watch your statements. Corporate money grab!
Is this review helpful? Yes:0 / No: 0
Dchbuckeye
October 27, 2021
Incompetent and I am annoyed! I financed an ATV thru Minnco. A year into the loan. I started to receive threading letters to prove I had insurance. Which I had from Progressive since day 1. After 3 calls trying to send policy information….That wasn’t good enough. I saw on my account a charge for “their” insurance . I called an questioned why they didn’t get a hold of Progressive like they said they would. And I quote “ we have tried and tried and can not reach anyone at Progressive” I am completely enraged. I called Progressive within 3 minutes!! I had merged Minnco and Progressive on the phone!! There was simple digits errors on the vin#. What took Minnco over a year…. I handled in 3 minutes!
This appears to be a Minnco money grab to me.
Real simple watch your statements. Corporate money grab!
Is this review helpful? Yes:0 / No: 0
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