The product CD 18-month Account from Citizens Alliance Bank with 0.60% APY and $100,000 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 $21,233. The interest earned would be $1,233 and the tax amount on the interest earned would be approximately $370.
Please note that this product is available in Montana 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: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 45 | 32 |
| 2 | 20,045 | 45 | 32 |
| 3 | 20,091 | 45 | 32 |
| 4 | 20,136 | 46 | 32 |
| 5 | 20,181 | 46 | 32 |
| 6 | 20,227 | 46 | 32 |
| 7 | 20,273 | 46 | 32 |
| 8 | 20,319 | 46 | 32 |
| 9 | 20,364 | 46 | 32 |
| 10 | 20,410 | 46 | 32 |
| TOTAL: | $457 | $320 |
| Rate: 0.60% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 120 | 84 |
| 2 | 20,120 | 121 | 85 |
| 3 | 20,241 | 121 | 85 |
| 4 | 20,362 | 122 | 86 |
| 5 | 20,484 | 123 | 86 |
| 6 | 20,607 | 124 | 87 |
| 7 | 20,731 | 124 | 87 |
| 8 | 20,855 | 125 | 88 |
| 9 | 20,980 | 126 | 88 |
| 10 | 21,106 | 127 | 89 |
| TOTAL: | $1,233 | $863 |
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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|
|
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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|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
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|
|
4.75% |
$1,500 |
Learn More | |
|
Last change: ↓0.25% on October 16. |
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Customer Reviews for Citizens Alliance Bank
Worst banking experience ever
January 28, 2024 |
This is by far the worst banking experience I have ever had. They fail to understand the simple concept that you are the customer and that they are providing a service for you. They consistently slapped quarterly fees on my kid's savings accounts. The bank 'manager' Amy at Watertown did not inform that they would charge $5 per account for mailing a paper statement. When it was corrected, we still were charged on them 2 more times. When I went to close the accounts, she claimed I had one less account because it didn't show up on her computer. It didn't matter that I logged in on my phone and showed her the account. She had no solution and didn't so much as offer to get to the bottom of why it wasn't showing up. Her answer was basically 'oh well' and she was surprised why I was angered by it. That is the depth of knowledge, expertise, and accountability you get when Amy is handling your money. She does no wrong and it's your fault, not hers or the bank. I guess 'oh well', I closed out all my family's accounts and we went somewhere else that understands what service they are providing.
Is this review helpful? Yes:2 / No: 0
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