The product Money Market Account from First Federal Savings Bank of Kentucky with 0.10% 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 $20,201. The interest earned would be $201 and the tax amount on the interest earned would be approximately $60.
Please note that this product is available in Kentucky 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: 0.10% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 20 | 14 |
| 2 | 20,020 | 20 | 14 |
| 3 | 20,040 | 20 | 14 |
| 4 | 20,060 | 20 | 14 |
| 5 | 20,080 | 20 | 14 |
| 6 | 20,100 | 20 | 14 |
| 7 | 20,120 | 20 | 14 |
| 8 | 20,140 | 20 | 14 |
| 9 | 20,161 | 20 | 14 |
| 10 | 20,181 | 20 | 14 |
| TOTAL: | $201 | $141 |
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. |
||||
|
|
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. |
||||
|
|
4.70% |
$500 |
Learn More | |
|
Last change: ↓0.50% on October 1. |
||||
Customer Reviews for First Federal Savings Bank of Kentucky
CD Dreamer
August 17, 2015
I can only dream about CD rates returning to these levels like the 1970's.
Is this review helpful? Yes:0 / No: 0
Juana Fernandez
August 13, 2015
Please, contact me for more information about 60mont6h CD rate 13.10% I think that is a misprint.
My telephone number is 305-562-5284
Thank you
Is this review helpful? Yes:1 / No: 0
Sol
August 11, 2015
This looks to have been a miskeyed rate. Sorry about that. It has been fixed.
Is this review helpful? Yes:2 / No: 0
bob
August 10, 2015
The bank's website lists 1.31% for the 5 year CD.
Is this review helpful? Yes:3 / No: 0
ht
August 10, 2015
Is it a misprint?????
Is this review helpful? Yes:1 / No: 0
Add Your Review
or use your BestCashCow account