Compound Interest Calculator
CD 6-month Account from The Citizens National Bank of Somerset with 0.10% APY and $1,000 minimum deposit
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The product CD 6-month Account from The Citizens National Bank of Somerset with 0.10% APY and $1,000 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 $20,201. The interest earned would be $201 and the tax amount on the interest earned would be approximately $60.
Please note that this product is available in Kentucky and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
The Results for The Citizens National Bank of Somerset
Savings Boost of
$-190 over 10 years
$-190 over 10 years
Cash Savings
$20,000
Average Interest Earned
$331
The Citizens National Bank of Somerset Interest Earned
$141
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: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 47 | 33 |
| 2 | 20,047 | 47 | 33 |
| 3 | 20,094 | 47 | 33 |
| 4 | 20,141 | 47 | 33 |
| 5 | 20,188 | 47 | 33 |
| 6 | 20,235 | 47 | 33 |
| 7 | 20,282 | 47 | 33 |
| 8 | 20,330 | 48 | 33 |
| 9 | 20,377 | 48 | 33 |
| 10 | 20,425 | 48 | 33 |
| TOTAL: | $473 | $331 |
The Citizens National Bank of Somerset Scenario
| Rate: 0.10% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 20 | 14 |
| 2 | 20,020 | 20 | 14 |
| 3 | 20,040 | 20 | 14 |
| 4 | 20,060 | 20 | 14 |
| 5 | 20,080 | 20 | 14 |
| 6 | 20,100 | 20 | 14 |
| 7 | 20,120 | 20 | 14 |
| 8 | 20,140 | 20 | 14 |
| 9 | 20,161 | 20 | 14 |
| 10 | 20,181 | 20 | 14 |
| TOTAL: | $201 | $141 |
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Last change: ↑0.25% on August 10. |
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Last change: ↑0.40% on April 27. |
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Customer Reviews for The Citizens National Bank of Somerset
[email protected]
March 26, 2021
So my bank citizens national bank of Somerset ky. They have previously in the past deposited the wrong person's tax account into my account and taking it back out without my whereabouts which made my account overdraft. They never even called to let me know! They then allowed a check to be processed that I had to pay fees against to do to stop payment. They now deposited a fraud check about getting paid to drive with sticker on car I received in the mail. This check I brought to them for investigation and they told me the same day I brought it to them they contacted the bank it was from and confirmed it was fraud. They placed a 7-day hold on this check and told me if it was fake I would never see the money in my account. However I did see that money. They then decided to take the money away. They did not take it away once they took it away to twice making my account negatives again! If I had not been paying attention here they would have cheating me out of three grand. Now for some reason last night this funds from his fake check show up for the second time!!! I am not kidding folks and for the second time last night they took these funds back away from me who knows a good lawyer I could contact? This bank should allow me the funds at their expense and fire the employees involved for all the headache and confusion I've experienced with them. I was not trying to cheap them. I did not know if this fraud that check was real or fake That's the reason I brought it to them for investigation. They messed up and this investigation five times! This makes seven times total this bank has messed my account up! Please folks stay away from this bank! I have banked here over 13 years. If not for pending payments IE taxes and such awaiting this account it would be closed!
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