Compound Interest Calculator
Money Market Account from My e-Banc, a division of Bradesco BAC Florida Bank with 3.90% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from My e-Banc, a division of Bradesco BAC Florida Bank with 3.90% 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 $29,321. The interest earned would be $9,321 and the tax amount on the interest earned would be approximately $2,796.

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 My e-Banc, a division of Bradesco BAC Florida Bank

Savings Boost of
$6,213 over 10 years
Cash Savings $20,000
Average Interest Earned $312

 
My e-Banc, a division of Bradesco BAC Florida Bank Interest Earned $6,525

 

 

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 20,133 44 31
5 20,177 45 31
6 20,222 45 31
7 20,267 45 31
8 20,311 45 31
9 20,356 45 31
10 20,401 45 32
TOTAL: $446 $312

My e-Banc, a division of Bradesco BAC Florida Bank Scenario

Rate:
3.90%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 780 546
2 20,780 810 567
3 21,590 842 589
4 22,432 875 612
5 23,307 909 636
6 24,216 944 661
7 25,161 981 687
8 26,142 1,020 714
9 27,162 1,059 742
10 28,221 1,101 770
TOTAL: $9,321 $6,525

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.


Recent Rate Changes



Date APY
May 14, 2024 3.90%


Featured CD Rates

Advertiser Disclosure
ONLINE BANKS APY? MIN?

13-Month Online CD - Save for the things you want later. Easy online application.

12-Month

Save for the things you want later. Easy online application.

13-Month

7-Month CD Special - Save for the things you want later. Easy online application.

6-Month

Save for the things you want later. Easy online application.

7-Month

5 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%.



Customer Reviews for My e-Banc, a division of Bradesco BAC Florida Bank (13)


  • September 22, 2023 |

    Online CDs 6 Month Rates

    Terrible bank. Terrible service. Not equipped to service customers outside Florida. Plays games with your taxes by issuing 1090s whenever. Really shouldn't be on this list or your radar. Avoid.

  • January 4, 2020 |

    Online CDs 12 Month Rates

    I am surprised at all the negative reviews. I have had several large CDs at this bank for several years, and I've gotten the best customer service I've ever gotten at any bank in the last 45 years.

  • December 10, 2019 |

    Online CDs 12 Month Rates

    I opened a CD here 13 months ago and expected you would return the money to the account from which funding came at maturity. You did not and I cannot get a straight answer. Please have a manager contact me at my number if your file.

  • May 3, 2019 |

    Online CDs 6 Month Rates

    I cannot find the rate or reach anyone at the bank. Found the bank's website. It seems entirely geared to helping clients move money from Latin America to the US. I will pass.

  • April 17, 2018 | | Replies 1

    Online CDs 12 Month Rates

    I am attracted to the rate, but will hold off based on prior experience. Agree with Fitzsimmons. I had an account there several years ago, and found it to be a phone account. Not an online account and not a branch account.

    Harvey | Apr 17, 2018

    I wanted to update this. These guys cannot even put their correct rates on their website. I would just say that they have operational inefficiencies as far as online is concerned. It is a phone account.


Add Your Review


or use your BestCashCow account

or