The product Money Market Account from First Volunteer Bank with 0.03% APY and $9,999 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 $20,060. The interest earned would be $60 and the tax amount on the interest earned would be approximately $18.
Please note that this product is available in Tennessee 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 | 20,090 | 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: 0.03% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 6 | 4 |
| 2 | 20,006 | 6 | 4 |
| 3 | 20,012 | 6 | 4 |
| 4 | 20,018 | 6 | 4 |
| 5 | 20,024 | 6 | 4 |
| 6 | 20,030 | 6 | 4 |
| 7 | 20,036 | 6 | 4 |
| 8 | 20,042 | 6 | 4 |
| 9 | 20,048 | 6 | 4 |
| 10 | 20,054 | 6 | 4 |
| TOTAL: | $60 | $42 |
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 Builtwell Bank
Z
September 7, 2023 |
Builtwell is the wrong name for a formerly great bank, when it was under the First Volunteer name the employees seemed to care a lot more about their local community members. Since they changed to the Builtworse(more accurate), it feels like the bank is attempting to expand at the cost of their local members. Do yourself a favor and don't even consider this bank, they are truly atrocious to work with since the changeover to Builtwell from FV. I'm almost embarassed for them and the employees.
Is this review helpful? Yes:1 / No: 0
Von
March 3, 2023
I tried to close put my IRA and cds and have had to go at least 4 times to try to get it taken care of. Very frustrating..no apologies for messing up..nothing. Ready to move my accounts
Is this review helpful? Yes:1 / No: 0
A. S. Mathew
December 3, 2022
Formerly it was Gateway Bank. I had business and personal account with them for a very long time, likewise the rest of the family. Friendly employees and great service, also one of the Board of Directors is a great friend of mine for a very long time.
Is this review helpful? Yes:0 / No: 2
PattyK
September 22, 2022 |
This company doesn't even offer maternity leave to its full time employees. It's privately owned so the owner is just greedy. Worse than any business owner I've ever seen.
Is this review helpful? Yes:3 / No: 0
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