The product CD 3-year Account from Citizens First Bank with 1.97% APY and $2,500 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 $24,308. The interest earned would be $4,308 and the tax amount on the interest earned would be approximately $1,292.
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: 0.75% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 150 | 105 |
| 2 | 20,150 | 151 | 106 |
| 3 | 20,301 | 152 | 107 |
| 4 | 20,453 | 153 | 107 |
| 5 | 20,607 | 155 | 108 |
| 6 | 20,761 | 156 | 109 |
| 7 | 20,917 | 157 | 110 |
| 8 | 21,074 | 158 | 111 |
| 9 | 21,232 | 159 | 111 |
| 10 | 21,391 | 160 | 112 |
| TOTAL: | $1,552 | $1,086 |
| Rate: 1.97% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 394 | 276 |
| 2 | 20,394 | 402 | 281 |
| 3 | 20,796 | 410 | 287 |
| 4 | 21,205 | 418 | 292 |
| 5 | 21,623 | 426 | 298 |
| 6 | 22,049 | 434 | 304 |
| 7 | 22,484 | 443 | 310 |
| 8 | 22,926 | 452 | 316 |
| 9 | 23,378 | 461 | 322 |
| 10 | 23,839 | 470 | 329 |
| TOTAL: | $4,308 | $3,016 |
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 |
|---|---|
| December 11, 2023 | 1.97% |
| 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 Citizens First Bank
David Klemann Sr.
December 8, 2023
We have been banking with Citizen's First for 4 years. Their branches, service, website, and employee attitudes are and always have been excellent. Their branches are warmly personal with free buttered popcorn and personal touches throughout. Not like the cold impersonal larger banks such as Chase and Truist we have left. You are treated not so much as just another customer, but as a friend . They have close personal ties and involvement to their communities. They offer a personal touch that is lacking in most of todays banking institutions.
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