The product CD 1-year Account from Latimer State Bank 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 Oklahoma 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: 0.55% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 111 | 77 |
| 2 | 20,111 | 111 | 78 |
| 3 | 20,222 | 112 | 78 |
| 4 | 20,334 | 112 | 79 |
| 5 | 20,446 | 113 | 79 |
| 6 | 20,559 | 114 | 80 |
| 7 | 20,673 | 114 | 80 |
| 8 | 20,787 | 115 | 80 |
| 9 | 20,902 | 116 | 81 |
| 10 | 21,018 | 116 | 81 |
| TOTAL: | $1,134 | $794 |
| 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. |
||||
|
|
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. |
||||
|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
||||
Customer Reviews for Latimer State Bank (15)
Bryan
November 13, 2021 |
Won't choose this bank ever
Is this review helpful? Yes:0 / No: 0
Dan
November 13, 2021 |
I agree with all these reviews people shouldn't even attempt in opening an account at this bank
Is this review helpful? Yes:0 / No: 0
Lindsay
November 13, 2021 |
This bank needs an upgrade
Is this review helpful? Yes:0 / No: 0
Kyle
November 13, 2021 |
This bank is for the old times
Is this review helpful? Yes:0 / No: 0
Justin
November 13, 2021 |
This bank will no longer see my business horrible experience n worse bank I've banked with
Is this review helpful? Yes:0 / No: 0
Add Your Review
or use your BestCashCow account