The product CD 1-year Account from Amerant Bank, National Association with 5.25% APY and $500 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 $33,362. The interest earned would be $13,362 and the tax amount on the interest earned would be approximately $4,009.
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: 0.55% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 110 | 77 |
| 2 | 20,110 | 111 | 78 |
| 3 | 20,221 | 112 | 78 |
| 4 | 20,333 | 112 | 79 |
| 5 | 20,445 | 113 | 79 |
| 6 | 20,558 | 113 | 79 |
| 7 | 20,672 | 114 | 80 |
| 8 | 20,786 | 115 | 80 |
| 9 | 20,900 | 115 | 81 |
| 10 | 21,016 | 116 | 81 |
| TOTAL: | $1,132 | $792 |
| Rate: 5.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 1,050 | 735 |
| 2 | 21,050 | 1,105 | 774 |
| 3 | 22,155 | 1,163 | 814 |
| 4 | 23,318 | 1,224 | 857 |
| 5 | 24,542 | 1,288 | 902 |
| 6 | 25,831 | 1,356 | 949 |
| 7 | 27,187 | 1,427 | 999 |
| 8 | 28,614 | 1,502 | 1,052 |
| 9 | 30,117 | 1,581 | 1,107 |
| 10 | 31,698 | 1,664 | 1,165 |
| TOTAL: | $13,362 | $9,353 |
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 |
|---|---|
| August 30, 2023 | 5.25% |
| August 19, 2023 | 4.75% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
5.00% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on October 28. |
||||
|
|
4.91% |
$25,000 |
Learn More | |
|
Last change: ↓0.09% on October 17. |
||||
|
|
4.90% |
$10,000 |
Learn More | |
|
Last change: ↓0.15% on September 6. |
||||
|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
||||
|
|
4.75% |
$1,500 |
Learn More | |
|
Last change: ↓0.25% on October 16. |
||||
Customer Reviews for Amerant Bank, Formerly Mercantil Bank
Molddave
August 30, 2023
Try to open account on line make you use PLAID to xfer money PLAID doesn't connect with many banks, Cannot do over phone. Discover, Penfed all ok this bank is useless.
I had acct before still bad. Stay away.
Is this review helpful? Yes:1 / No: 0
Jay
January 14, 2021
Amerant bank in next to impossible to get a hold of. I have called 5 or 6 times in a day and never been able to get someone to answer the phone. Seriously regretting doing business with them......uggh. I wish I could go back in time and go with someone else.
Is this review helpful? Yes:2 / No: 0
Add Your Review
or use your BestCashCow account