The product Money Market Account from O BEE with 0.16% 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 $20,322. The interest earned would be $322 and the tax amount on the interest earned would be approximately $97.
Please note that this product is available in Washington 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: 0.16% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 32 | 22 |
| 2 | 20,032 | 32 | 22 |
| 3 | 20,064 | 32 | 22 |
| 4 | 20,096 | 32 | 23 |
| 5 | 20,128 | 32 | 23 |
| 6 | 20,161 | 32 | 23 |
| 7 | 20,193 | 32 | 23 |
| 8 | 20,225 | 32 | 23 |
| 9 | 20,257 | 32 | 23 |
| 10 | 20,290 | 32 | 23 |
| TOTAL: | $322 | $226 |
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. |
||||
|
|
4.85% |
$500 |
Learn More | |
|
Last change: ↓0.10% on October 28. |
||||
Customer Reviews for O Bee
David strout
January 24, 2020
I was forces to close my account due to someone that had my debit card but kindly put it on the seat of the truck not in my wallet but they were nice enough to deposit a fake /forged/counterfeit check into my account and because of this and even though i had nothing to do with this or any knowledge about i was gorced to close my account even after i found out the check was signed obviously its not my signature and the person doing it said they wouldnt go through the tapes to see who did it because there was too many hours of footage ti me this bank doesnt care about its customers at all i thiught i had fraud protection but apparently its just here lets close your account not investigate cuz they didnt want to do their job this is the worst experience ever with a bank
Is this review helpful? Yes:0 / No: 0
Add Your Review
or use your BestCashCow account