The product CD 5-year Account from NSWC with 1.16% 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 $22,445. The interest earned would be $2,445 and the tax amount on the interest earned would be approximately $733.
Please note that this product is available in Virginia 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: 0.92% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 183 | 128 |
| 2 | 20,183 | 185 | 129 |
| 3 | 20,368 | 186 | 130 |
| 4 | 20,554 | 188 | 132 |
| 5 | 20,742 | 190 | 133 |
| 6 | 20,932 | 192 | 134 |
| 7 | 21,123 | 193 | 135 |
| 8 | 21,317 | 195 | 137 |
| 9 | 21,512 | 197 | 138 |
| 10 | 21,709 | 199 | 139 |
| TOTAL: | $1,907 | $1,335 |
| Rate: 1.16% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 232 | 162 |
| 2 | 20,232 | 235 | 164 |
| 3 | 20,467 | 237 | 166 |
| 4 | 20,704 | 240 | 168 |
| 5 | 20,944 | 243 | 170 |
| 6 | 21,187 | 246 | 172 |
| 7 | 21,433 | 249 | 174 |
| 8 | 21,682 | 252 | 176 |
| 9 | 21,933 | 254 | 178 |
| 10 | 22,188 | 257 | 180 |
| TOTAL: | $2,445 | $1,711 |
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. |
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|
|
5.00% |
$500 |
Learn More | |
|
Last change: ↑3.00% on August 7. |
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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. |
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Customer Reviews for Topside
Dawncoop
February 21, 2023 |
I chose NSWFCU ( now Topside) for a personal account in 2012 as a school social worker in King George County.
I again chose NSWFCU for a business account in 2017 when I opened up a private practice to provide affordable mental health care in the community.
I did this to support local businesses. However, this credit union will not protect me as a customer and part of the community.
There was a death in our family this month, and I took time off to take care of the cremation, etc. My account was low and went into the negative due to electronic charges that I was unaware of. I was charged $32 for attempted charges as low as $5, and Topside continued to allow charges even though the account was negative.
I have over $400 in NSF fees this month from unauthorized electronic debits attempted multiple times.
I have not written bad checks that have bounced or taken advantage of Topside.
Topside ( formerly NSWFCU) has denied my request to stop charges and only allow deposits. I have only been told that there is nothing that they can do while my account is in the negative.
Like most Americans, $400 is a significant amount. This situation has led to other essential bills being unpaid.
I am disappointed that a credit union in our community will hang people out to dry in a difficult time only to make profits.
I would encourage community members and small business owners to reconsider their relationship with Topside FCU since they do not adhere to the values that keep our families safe and thriving.
Dawn Cooperstein LCSW (formerly Weisenberger )
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