The product Money Market Account from Anderson Brothers Bank with 0.25% APY and $10,000 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 $20,506. The interest earned would be $506 and the tax amount on the interest earned would be approximately $152.
Please note that this product is available in South Carolina and 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 | 45 | 31 |
| 2 | 20,045 | 45 | 31 |
| 3 | 20,089 | 45 | 31 |
| 4 | 20,134 | 45 | 31 |
| 5 | 20,179 | 45 | 31 |
| 6 | 20,224 | 45 | 32 |
| 7 | 20,269 | 45 | 32 |
| 8 | 20,314 | 45 | 32 |
| 9 | 20,360 | 45 | 32 |
| 10 | 20,405 | 46 | 32 |
| TOTAL: | $451 | $315 |
| Rate: 0.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 50 | 35 |
| 2 | 20,050 | 50 | 35 |
| 3 | 20,100 | 50 | 35 |
| 4 | 20,150 | 50 | 35 |
| 5 | 20,201 | 51 | 35 |
| 6 | 20,251 | 51 | 35 |
| 7 | 20,302 | 51 | 36 |
| 8 | 20,353 | 51 | 36 |
| 9 | 20,404 | 51 | 36 |
| 10 | 20,455 | 51 | 36 |
| TOTAL: | $506 | $354 |
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? | ||
|---|---|---|---|---|
|
|
5.51% |
$25,000 |
Learn More | |
|
Last change: ↓0.15% on May 13. |
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|
|
5.34% |
$500 |
Learn More | |
|
|
5.30% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on August 7. |
||||
|
|
5.20% |
$500 |
Learn More | |
|
Last change: ↓0.10% on August 16. |
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|
|
5.20% |
$2,500 |
Learn More | |
|
Last change: ↑5.10% on August 12. |
||||
Customer Reviews for Anderson Brothers Bank
lb44
February 18, 2021
I have had my car loan through Anderson Brothers for 8 months now. I have been paying on time, but I pulled my annual credit report and notice they haven't been reporting. Im very upset about this. I need answers.
Is this review helpful? Yes:3 / No: 0
disgusted consumer
February 1, 2021
This bank resembles a loan shark. They do not work with folks who have had troubles and try to make things right. No matter how hard to try to resolve an issue in a forthright manner they refuse and want to profit by making you suffer. Have never had an experience like this with any bank.
Is this review helpful? Yes:2 / No: 0
Betty Greene
June 2, 2016
I have called, returned statement and mailed you letters about this issue. You kept sending statements to Joseph Nance Greene for Checking account that has no money in it and he had request you to stop sending _0_ statements. I have called, written and email telling you he no longer lives at this address and I do not know his address. As we ask him to move.
PLEASE QUIT SENDING STATEMENTS FOR JOSEPH N GREENE TO 4101 O LD PORTMAN ROAD - Anderson, sc 29626. STOP
Is this review helpful? Yes:1 / No: 0
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