The product CD 5-year Account from Broadway National Bank with 0.35% 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 $20,711. The interest earned would be $711 and the tax amount on the interest earned would be approximately $213.
Please note that this product is available in Texas 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: 0.92% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 183 | 128 |
| 2 | 20,183 | 185 | 129 |
| 3 | 20,368 | 186 | 130 |
| 4 | 20,554 | 188 | 132 |
| 5 | 20,742 | 190 | 133 |
| 6 | 20,932 | 192 | 134 |
| 7 | 21,123 | 193 | 135 |
| 8 | 21,317 | 195 | 137 |
| 9 | 21,512 | 197 | 138 |
| 10 | 21,709 | 199 | 139 |
| TOTAL: | $1,907 | $1,335 |
| Rate: 0.35% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 70 | 49 |
| 2 | 20,070 | 70 | 49 |
| 3 | 20,140 | 70 | 49 |
| 4 | 20,211 | 71 | 50 |
| 5 | 20,281 | 71 | 50 |
| 6 | 20,352 | 71 | 50 |
| 7 | 20,424 | 71 | 50 |
| 8 | 20,495 | 72 | 50 |
| 9 | 20,567 | 72 | 50 |
| 10 | 20,639 | 72 | 51 |
| TOTAL: | $711 | $498 |
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? | ||
|---|---|---|---|---|
|
|
5.00% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on October 28. |
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|
|
5.00% |
$500 |
Learn More | |
|
Last change: ↑3.00% on August 7. |
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|
|
4.91% |
$25,000 |
Learn More | |
|
Last change: ↓0.09% on October 17. |
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|
|
4.90% |
$10,000 |
Learn More | |
|
Last change: ↓0.15% on September 6. |
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|
|
4.90% |
$500 |
Learn More | |
|
Last change: ↓0.05% on September 27. |
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Customer Reviews for Broadway National Bank
Traci Mitchell
July 3, 2024 |
have been a customer of Broadway National Bank's Wealth Management Division for over 30 years (since 1990), but my recent experiences have been deeply troubling. Following the retirement of my previous trust officer, I have been dealing with a new member in a leadership position who has displayed unprofessionalism, rudeness, and unethical behavior at an unprecedented level.
In the past 60 days, this leadership member of Broadway National Bank's Wealth Management Division has completely halted my fiduciary distributions without providing a clear or justifiable explanation (stating that my current employment of 6 years is more of a “side hustle” and not a job). Moreover, I was handed a medical bill that is over two years old and was demanded to pay it. The same individual advised me to stop seeking "unnecessary" medical treatment, claiming that the treatments I have been receiving for over a decade were more cosmetic than medically necessary. This is particularly concerning coming from someone who is not a licensed physician.
I responded, "I have never paid a medical bill; why would I start now?" I am shocked and deeply disappointed that a supposedly reputable financial institution would treat a long-standing customer in such a deplorable manner.
The explanation I received was, "I don’t know what your last trust officer was doing, but things are now changing."
I strongly advise anyone considering Broadway National Bank for wealth management services, or any banking services at that matter, to think twice. Their management and leadership are extremely rude and this is not what my loved ones intended when they chose Broadway National Bank as the trustee for our family's estate and planning needs. The lack of professionalism is appalling.
I have written many reviews, and I must say that this one is probably my most important and informative. I believe that any other financial institution would provide a much better experience than Broadway National Bank.
I, Traci Mitchell, accept and agree to all the provisions of all the Trust Agreements I have been left as a beneficiary (for legal purposes).
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