Compound Interest Calculator
Money Market Account from Habib American Bank with 0.60% APY and $1,500 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Habib American Bank with 0.60% APY and $1,500 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 $21,233. The interest earned would be $1,233 and the tax amount on the interest earned would be approximately $370.

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 Habib American Bank

Savings Boost of
$543 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Habib American Bank Interest Earned $863

 

 

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:
0.23%
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

Habib American Bank Scenario

Rate:
0.60%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 120 84
2 20,120 121 85
3 20,241 121 85
4 20,362 122 86
5 20,484 123 86
6 20,607 124 87
7 20,731 124 87
8 20,855 125 88
9 20,980 126 88
10 21,106 127 89
TOTAL: $1,233 $863

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
August 20, 2023 0.60%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.09% on December 7.
6 Month Jumbo CD.

Last change: ↑0.25% on November 25.

Last change: ↑0.70% on December 7.

Last change: ↓0.05% on December 4.



Customer Reviews for Habib American Bank


  • February 13, 2018

    Is it legal to bring someone into the branch and shake them down and threaten them when they want to redeem their CD upon maturity (as opposed to allowing it to automatically renew)? If not, these guys and gals should be in jail. I did not enjoy my travels to the Middle East.

  • September 11, 2017

    This bank has horrible customer service. The lady who picks up the phone doesn't hear your full question before transferring you (95% of the time) to the wrong party. When I called them another time I called them at 4:05PM and the same lady called and actually got mad at me for calling them after hours (I didn't know they close at 4PM) when she picked up my call. She shouldn't have picked up the phone then.

    I know other people who have had the same horrible customer service experience. If this bank was ever mystery shopped, it would shut down! I don't know how they manage to stay open.


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