The product CD Account from VYSTAR with 3.90% 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 $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
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: 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 |
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.
| Date | APY |
|---|---|
| January 4, 2024 | 3.90% |
| 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 Vystar
Sharon
August 8, 2023 |
The mobile banking issues happened during a planned conversion to a new platform. VyStar said all funds are secure. The bank is using local banking tech firm Nymbus to launch the new platform electing it as its digital banking partner a few months after investing $20 million in the company. Not a good look and I don't recall this being divulged in advance.
As a long time member, I am becoming increasingly dissatisfied with Vystar. The conversion to the new platform is absolutely no better than what they had in place prior to this debacle. In addition, they have gone from being a credit union for the people to acting just like any other bank to bog to fail. I did not sign up for a variable rate credit card when I joined them in 1989 and that has now been forced on me along with an interest rate that is jumping up almost double from their last increase. When I called today I learned they have gone from a live person to an automated recording. They offer me terrible interest rates on savings and CDs. I am left wondering just how this Credit Union is supporting me and its other members any better than a regular bank with shareholders these days....
Is this review helpful? Yes:0 / No: 0
Robin
March 22, 2023 |
Vystar changed there computer system and was done for weeks. That was a year ago and still have problems. You had to wait in line to do your on line banking
Is this review helpful? Yes:0 / No: 0
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