The product CD 2-year Account from Gulf Coast Bank and Trust Company with 0.40% 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 $20,815. The interest earned would be $815 and the tax amount on the interest earned would be approximately $244.
Please note that this product is available in Louisiana 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: 0.66% |
Annual Interest |
Annual Interest (After Tax) |
|
---|---|---|---|
1 | 20,000 | 131 | 92 |
2 | 20,131 | 132 | 93 |
3 | 20,264 | 133 | 93 |
4 | 20,397 | 134 | 94 |
5 | 20,531 | 135 | 94 |
6 | 20,666 | 136 | 95 |
7 | 20,801 | 137 | 96 |
8 | 20,938 | 138 | 96 |
9 | 21,076 | 138 | 97 |
10 | 21,214 | 139 | 98 |
TOTAL: | $1,354 | $947 |
Rate: 0.40% |
Annual Interest |
Annual Interest (After Tax) |
|
---|---|---|---|
1 | 20,000 | 80 | 56 |
2 | 20,080 | 80 | 56 |
3 | 20,160 | 81 | 56 |
4 | 20,241 | 81 | 57 |
5 | 20,322 | 81 | 57 |
6 | 20,403 | 82 | 57 |
7 | 20,485 | 82 | 57 |
8 | 20,567 | 82 | 58 |
9 | 20,649 | 83 | 58 |
10 | 20,732 | 83 | 58 |
TOTAL: | $815 | $570 |
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. |
||||
|
5.00% |
$500 |
Learn More | |
Last change: ↑3.00% on August 7. |
||||
|
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. |
||||
|
4.90% |
$500 |
Learn More | |
Last change: ↓0.05% on September 27. |
Customer Reviews for Gulf Coast Bank and Trust Company
Jullianb
March 19, 2020 |
I made a deposit of 14k at the Gulf Coast Bank and Trust Carrollton Ave branch on March 13, 2020. My account manager and the bank manager both handled the deposit, but secretly, the manager had requested a hold on the funds, and my gut feeling is that he told my account manager not to mention it. See, I had a verbal confrontation with him in hthe past (which he now lies and says he doesn't remember. After seeing me, and realizing I'm Black, he purposely did not inform me of the pending hold. The next morning the funds were showing as available, and accordingly, I issued several checks. By 10:30 [name redacted], the manager had placed a manual hold on the funds. I met with him on Monday March 16, to discuss my issue. I told him he was harassing me because I'm Black because he had not thought about putting the hold on until after he had seen me for the first time, and I he didn't like the tone I used with him in our earlier phone confrontation. He actually responded with "No that's not the only reason". When he realized what he'd said, he quickly tried to retract his statement. See, they think all Black folks are ignorant. I reached out to as many people in that organization as I could find, and absolutely no one at a higher level responded. The only person who showed any concern was a lady named Louann. The bank has a list of policies, which they are going to use as their defense. Those policies only serve to shelter them from the consequences of their racist agenda. The management does what they want to Blacks, in an effort to damage us economically, then hide behind their policies. Several of my Black and White friends who had accounts in the past with this bank expressed the same dislikes.
Is this review helpful? Yes:0 / No: 1
Add Your Review
or use your BestCashCow account