The product Money Market Account from People's United Bank, National Association with 0.03% 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 $20,060. The interest earned would be $60 and the tax amount on the interest earned would be approximately $18.
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: 0.22% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 43 | 30 |
| 2 | 20,043 | 43 | 30 |
| 3 | 20,086 | 43 | 30 |
| 4 | 20,129 | 43 | 30 |
| 5 | 20,173 | 43 | 30 |
| 6 | 20,216 | 43 | 30 |
| 7 | 20,259 | 44 | 30 |
| 8 | 20,303 | 44 | 31 |
| 9 | 20,347 | 44 | 31 |
| 10 | 20,390 | 44 | 31 |
| TOTAL: | $434 | $304 |
| Rate: 0.03% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 6 | 4 |
| 2 | 20,006 | 6 | 4 |
| 3 | 20,012 | 6 | 4 |
| 4 | 20,018 | 6 | 4 |
| 5 | 20,024 | 6 | 4 |
| 6 | 20,030 | 6 | 4 |
| 7 | 20,036 | 6 | 4 |
| 8 | 20,042 | 6 | 4 |
| 9 | 20,048 | 6 | 4 |
| 10 | 20,054 | 6 | 4 |
| TOTAL: | $60 | $42 |
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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|
|
5.50% |
$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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|
|
5.49% |
$50,000 |
Learn More | |
|
Last change: ↑0.09% on March 12. |
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Customer Reviews for People's United Bank, National Association
Sarahszych666
March 14, 2022
My account has several FDIC regulation violations happening and the bank manager only suggested the closure of my account in Stamford, CT. Any suggestions on how to get a bank branch to follow the federal guidelines to access to your account and proper written statements of its activity? email Riansarahszych1975@gmail.com with any suggestions I am a SSDI recipient who complained of violations and am locked out of my account homeless in another state with no Peoples united bank branch.
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rgarendt
September 3, 2019
When I called our local Peoples United branch, they told us their rates were about half of what this website says they should be (2.30%) in our location for a 12-month CD and for a Fixed Rate IRA. Lesson: Do not believe the website and always call the bank to find out the real facts.
Is this review helpful? Yes:0 / No: 0
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