The product Money Market Account from First Internet Bank of Indiana with 3.77% APY and $1,000 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 $28,957. The interest earned would be $8,957 and the tax amount on the interest earned would be approximately $2,687.
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: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 45 | 32 |
| 2 | 20,045 | 45 | 32 |
| 3 | 20,090 | 45 | 32 |
| 4 | 20,135 | 45 | 32 |
| 5 | 20,181 | 45 | 32 |
| 6 | 20,226 | 46 | 32 |
| 7 | 20,272 | 46 | 32 |
| 8 | 20,317 | 46 | 32 |
| 9 | 20,363 | 46 | 32 |
| 10 | 20,409 | 46 | 32 |
| TOTAL: | $455 | $318 |
| Rate: 3.77% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 754 | 528 |
| 2 | 20,754 | 782 | 548 |
| 3 | 21,536 | 812 | 568 |
| 4 | 22,348 | 843 | 590 |
| 5 | 23,191 | 874 | 612 |
| 6 | 24,065 | 907 | 635 |
| 7 | 24,972 | 941 | 659 |
| 8 | 25,914 | 977 | 684 |
| 9 | 26,891 | 1,014 | 710 |
| 10 | 27,905 | 1,052 | 736 |
| TOTAL: | $8,957 | $6,270 |
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 |
|---|---|
| April 1, 2024 | 3.77% |
| February 20, 2024 | 3.77% |
| August 20, 2023 | 3.76% |
| 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 First Internet Bank of Indiana
Beenthere
January 30, 2024
Have an IRA rollover, they don't take IRAs any longer.
Is this review helpful? Yes:2 / No: 0
Jim Plew
April 22, 2015
Hello, I am interested in a line of credit against my home. I have a high interest credit card that I want to move to this credit. I have a wells fargo mortgage which is only a few years old which I do not want to touch.
Jim
You can reach me by my work phone 765-451-0371, or at my e-mail james.r.plew@delphi.com
Is this review helpful? Yes:6 / No: 2
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