Compound Interest Calculator
CD 3-year Account from Gateway First Bank with 3.10% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Gateway First Bank with 3.10% APY and $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 $27,140. The interest earned would be $7,140 and the tax amount on the interest earned would be approximately $2,142.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Gateway First Bank

Savings Boost of
$3,912 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
Gateway First Bank Interest Earned $4,998

 

 

See comparison detail table

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.

Comparison Detail Table Close X

Average Rate Scenario

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

Gateway First Bank Scenario

Rate:
3.10%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 620 434
2 20,620 639 447
3 21,259 659 461
4 21,918 679 476
5 22,598 701 490
6 23,298 722 506
7 24,020 745 521
8 24,765 768 537
9 25,533 792 554
10 26,324 816 571
TOTAL: $7,140 $4,998

Take Action

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.


Recent Rate Changes



Date APY
October 3, 2024 3.10%


Featured CD Rates

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Customer Reviews for Gateway First Bank


  • October 11, 2020

    You probably thought - as did I - that you were looking at a site that belongs to and was the responsibility of Gateway First. After all it includes their headings, selected financial statements, many pages of documentation and even this page of customer reviews.

    I dealt with three of the bank's employees who were aware of the existence of this material and, after ten hours of filling in forms and submitting data to Guardian First I was told that the bank was not responsible for the material on these pages and that all this material was a responsility of BestCashCow. The bank would not honor the CD rate that appeared in two (or more) places on these pages.

    While this may sound like the old "bait and switch" fraud - you see an ad for something you dearly want at a very good price but after you drive 20 miles to pick up the product you are told that price results from a mistake - I am not accusing Guardian of Bait and Switch. I am saying that a responsible bank should monitor and correct what they know others are saying about it and in my opinion Guardian is not a very responsible bank. In my opinion there are many more responsible banks and you should think twice of dealing with Guardian.

    I am thinking of submitting a negative yelp on Guardian.

  • May 11, 2020 |

    Online transfer limit is $2000 per transfer. If you have a lot of money to move in or out, don't use this bank.

  • March 26, 2020 |

    Online CDs 12 Month Rates

    Easy! Great rate!


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