The product Money Market Account from NVE Bank with 0.10% APY and $2,500 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 $20,201. The interest earned would be $201 and the tax amount on the interest earned would be approximately $60.
Please note that this product is available in New Jersey 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: 0.23% |
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: 0.10% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 20 | 14 |
| 2 | 20,020 | 20 | 14 |
| 3 | 20,040 | 20 | 14 |
| 4 | 20,060 | 20 | 14 |
| 5 | 20,080 | 20 | 14 |
| 6 | 20,100 | 20 | 14 |
| 7 | 20,120 | 20 | 14 |
| 8 | 20,140 | 20 | 14 |
| 9 | 20,161 | 20 | 14 |
| 10 | 20,181 | 20 | 14 |
| TOTAL: | $201 | $141 |
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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|
|
4.80% |
$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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|
|
4.65% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 4. |
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Customer Reviews for NVE Bank
ngeeung
May 10, 2021
NVE Bank can change the amount of my deposit later days.
Without my permission they can change and do whatever they like.
On 4/17/2021 I deposit $ 9000.00.
Two days later he call me asked me a question " how much did you deposit?"
I told him $ 9000.00
Now they took $ 2000.00 away from my account.
Why?
I had a check $ 3500 and cash $ 5500.
The bank printed out slip for me on that day $ 9000
My deposit check only $ 3,500 , but the bank teller put $ 5,500.
The cash I counted $ 5,500 ,the bank teller counted, and the bank manager
counted by hands and machines $ 5,500.00
Now NVE Bank taking my $ 2,000 from my account.
My lawyer will contact them.
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