The product Money Market Account from Savanna-Thomson State Bank with 0.50% 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 $21,023. The interest earned would be $1,023 and the tax amount on the interest earned would be approximately $307.
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: 0.50% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 100 | 70 |
| 2 | 20,100 | 101 | 70 |
| 3 | 20,201 | 101 | 71 |
| 4 | 20,302 | 102 | 71 |
| 5 | 20,403 | 102 | 71 |
| 6 | 20,505 | 103 | 72 |
| 7 | 20,608 | 103 | 72 |
| 8 | 20,711 | 104 | 72 |
| 9 | 20,814 | 104 | 73 |
| 10 | 20,918 | 105 | 73 |
| TOTAL: | $1,023 | $716 |
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 Fidelity Bank
Guest
October 13, 2022
Upon entering the Savanna Location, I 1st waited and waited and then was told it was gonna be a few minutes; Therefore when one's app once I got to deposit money they tried to tell me it was too late. To continue my dispute the teller later went back and came back with a woman who proceeded to tell me she had worked there for 23 years clears and that she is the vice president. The way she presented herself, was that exactly of a 13 year old girl, raging with uncontrollable hormones, that make ones attitude quite, ugly and uncomfortable to be around. I decided that I should ask to speak to the president, Her words to me where " He's in a meeting right now. He can call you later when hes done and I'm closing your account, I don't mess around!" Then they refused to take my number, for the president to call me. And since we discussed the closing of my account I asked for my money and she said" yeah what's not negative". Then began to get even more nasty with me growling " Why are you still standing here?" I replied "didn't we just discuss this you're closing my account so I'm waiting for my money., Are you really getting even more nasty with me right now because I'm waiting on you to do your job?" The teller then threw me the money, out of my checking account only. Which then maybe ask" Are you serious ? Did you just throw my own money at me?" As she slinked back in her seat, Crossing her arms, and turning her nose up, she snarled, "Yeah!"
I've never heard or seen of a business conducted this way. I am truly amazed that it has been capable of staying open, with such poor, inappropriate, negligent, slow, intimidating staff.
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