The product CD 6-month Account from New Mexico Bank & Trust with 0.03% APY and $100,000 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 $20,060. The interest earned would be $60 and the tax amount on the interest earned would be approximately $18.
Please note that this product is available in New Mexico and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
Our records indicate that this institution has been acquired by HTLF Bank.
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 | 20,091 | 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 |
| Rate: 0.03% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 6 | 4 |
| 2 | 20,006 | 6 | 4 |
| 3 | 20,012 | 6 | 4 |
| 4 | 20,018 | 6 | 4 |
| 5 | 20,024 | 6 | 4 |
| 6 | 20,030 | 6 | 4 |
| 7 | 20,036 | 6 | 4 |
| 8 | 20,042 | 6 | 4 |
| 9 | 20,048 | 6 | 4 |
| 10 | 20,054 | 6 | 4 |
| TOTAL: | $60 | $42 |
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? | ||
|---|---|---|---|---|
|
|
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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|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↓0.09% on December 7. |
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|
|
4.75% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on November 25. |
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|
|
4.70% |
$1,000 |
Learn More | |
|
Last change: ↑0.70% on December 7. |
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Customer Reviews for New Mexico Bank & Trust
Vironika
July 16, 2021 |
I have been banking with New Mexico Bank & Trust. When I moved to Albuquerque I wanted to close my account because the banks are so far from where I have lived. My father talked me into keeping my account.. Over the years I hadn’t had issues with the bank so I never gave anymore thought to closing my account; until now.
I had to call and have three checks stopped. There is a charge for this and I didn’t have a problem paying that. While on the phone I was clear about what I needed and the customer service agent repeated the check numbers and information back to me, more than once. We were both very clear about the information. The agent also stated that there should be no issue but IF the checks go through, call them back and it will be fixed. At the end of the call I was so happy with how helpful and efficient my situation was handled that I asked if I could leave positive feedback for her with a supervisor. She tried to get someone but ultimately said she couldn’t get anyone on the phone for me and said she would note in her comments the time of the call so they could listen later.
The next day one of the checks went through and sent my account into the negative, which comes with the dreaded Insufficient Funds Fee. I sent a message through the NMB&T portal to let them know to look into that. I got the run around and finally was told by Lisa in the Clovis branch that it was my own problem (not in so many words). It is aggravating because the check was for $751. Next, my automatic payments for bills began going through, which sent my account further into the negative AND brought with that multiple Insufficient Funds Fees. I have finally changed all of my auto payments to my other bank.. But the damage has been done. Hundreds of dollars.. It’s true - companies do NOT reward loyalty. Unless maybe you’re a millionaire..
Is this review helpful? Yes:2 / No: 0
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