The product CD 18-month Account from InsBank with 4.25% APY and $50,000 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 $30,324. The interest earned would be $10,324 and the tax amount on the interest earned would be approximately $3,097.
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: 4.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 850 | 595 |
| 2 | 20,850 | 886 | 620 |
| 3 | 21,736 | 924 | 647 |
| 4 | 22,660 | 963 | 674 |
| 5 | 23,623 | 1,004 | 703 |
| 6 | 24,627 | 1,047 | 733 |
| 7 | 25,674 | 1,091 | 764 |
| 8 | 26,765 | 1,137 | 796 |
| 9 | 27,902 | 1,186 | 830 |
| 10 | 29,088 | 1,236 | 865 |
| TOTAL: | $10,324 | $7,227 |
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 |
|---|---|
| October 22, 2024 | 4.25% |
| September 27, 2024 | 4.50% |
| March 25, 2024 | 4.75% |
| August 20, 2023 | 3.11% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
5.00% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on October 28. |
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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. |
||||
|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
||||
Customer Reviews for InsBank (7)
judy
July 7, 2022
Insbank 1 yr is 1.5 % 18month is 1.6% 7-7-2022
Is this review helpful? Yes:0 / No: 0
Larry
April 29, 2021 |
You will not collect any interest and lose a good chunk of the principal. They don't take all of it you will still recover some money. The early withdrawl clause is always part of the terms you acknowledged when opening your CD. Early withdrawl fees are another way the bank makes money so they are adamant in collecting it.
Is this review helpful? Yes:0 / No: 0
Maricica S.
April 23, 2021 |
I got a decent .70% on an an 18 month $22000 CD. The rates have been dropping fast. I learned just a few weeks ago the CD APYs will be right around 0 until 2024. The analyst I quote says these rates may never climb.
It was quick and easy to take out a CD with this outfit. I did an ACH transfer which went smoothly. I confirmed telephonically with the office and the agent was very helpful and very professional.
Is this review helpful? Yes:0 / No: 0
JayC
January 5, 2021 | | Replies 1
i went to open an account. I discovered the bank is based in Tennessee. TNs two senators are voting to decertify the election. I will not open an account here and neither should you. I wish the bank weren't listed here. We're in payback time now.
Is this review helpful? Yes:4 / No: 2
| Jun 22, 2022
Congratulations, you brought us this crap economy with your woke vote. There is not a pill you can take or a class you can go to.....stupid is forever.
Dan Grimm
December 26, 2020 | | Replies 1
I found the bank on this site, but I also saw a 30-month CD at 1.15% on their site and that interested me too. I am trying to figure out what the penalty is for early cancellation of the CD if I need my money back. I called and spoke with a nice lady on Christmas eve. She didn't know and noone called back. Does anyone know?
Is this review helpful? Yes:0 / No: 0
Bill S. | Aug 19, 2021
I have a CD from Insbank and penalties for early withdrawal on CDs are given in the Truth In Savings document. The penalty for withdrawal on a 30 month CD is 12 months interest.
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