Compound Interest Calculator
CD 1-year Account from MutualOne Bank with 0.45% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from MutualOne Bank with 0.45% 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 $20,918. The interest earned would be $918 and the tax amount on the interest earned would be approximately $276.

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

The Results for MutualOne Bank

Savings Boost of
$-149 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
MutualOne Bank Interest Earned $643

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 112 78
4 20,333 112 79
5 20,445 113 79
6 20,558 113 79
7 20,672 114 80
8 20,786 115 80
9 20,900 115 81
10 21,016 116 81
TOTAL: $1,132 $792

MutualOne Bank Scenario

Rate:
0.45%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 90 63
2 20,090 90 63
3 20,180 91 64
4 20,271 91 64
5 20,362 92 64
6 20,454 92 64
7 20,546 92 65
8 20,639 93 65
9 20,731 93 65
10 20,825 94 66
TOTAL: $918 $643

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
November 3, 2023 0.45%
August 30, 2023 2.02%
August 20, 2023 0.45%


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Customer Reviews for MutualOne Bank


  • August 28, 2022

    CDs 6 Month Rates

    Rates are totally uncompetitive now.

  • March 25, 2021 |

    Online Savings Rates

    Completely excessive number of customer service phone calls after setting up account. Well meaning, but over the top.

  • February 15, 2021 |

    Online Savings Rates

    And, poof, just like that. After years of being competitive, they've dropped their MM rate from 0.70 to 0.45 in two weeks.

  • February 10, 2021 |

    I opened CDs with no issue, they didn't want to set me up for bank-to-bank transfer for a savings account. Someone called me several times and I would call back and get told they had everything. Not worth all the emails and phone calls.

  • February 10, 2021 |

    Online Savings Rates

    A little weak around the edges!


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