The product CD 5-year Account from Oriental Bank with 1.11% 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 $22,334. The interest earned would be $2,334 and the tax amount on the interest earned would be approximately $700.
Please note that this product is available in 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: 1.11% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 222 | 155 |
| 2 | 20,222 | 224 | 157 |
| 3 | 20,446 | 227 | 159 |
| 4 | 20,673 | 229 | 161 |
| 5 | 20,903 | 232 | 162 |
| 6 | 21,135 | 235 | 164 |
| 7 | 21,370 | 237 | 166 |
| 8 | 21,607 | 240 | 168 |
| 9 | 21,847 | 242 | 170 |
| 10 | 22,089 | 245 | 172 |
| TOTAL: | $2,334 | $1,634 |
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 Oriental Bank
Elba Orengo
December 29, 2023 |
I am giving 1-star because I can't give a 0!
My mom moved to California to live with me, she is 85 and I'm her caretaker. My mom with her altruistic mindset decided (against our advice) to keep some of her assets in Puerto Rico, "to help the economy of the Island" (her words).
But now she needs to transfer all her accounts due to her physical and medical needs. Because of this, she requested the cancellation of a CD she has with Oriental Bank. She called countless times to the San Patricio branch, and so did I. However, every time the calls got immediately transferred to the headquarters in Hato Rey. Then, we get "educated" with the fact that we need to contact the branch and not the headquarters. No matter how many times we clarified that THEIR switchboard is the one at fault (I'm guessing the switchboard is suffering from some sort of IT-dyslexia!) we still get the reply that WE need to CONTACT or VISIT the branch (hello, our home in California is precisely 3,594 miles away!).
Finally, one representative told us what to do and sent us the form we needed to fill out in order to cancel the CD and get a check for its value.
We did EVERYTHING! And guess what, instead of a check she got a notification that her certificate of deposit was RENEWED!!!
We called again, and again, and again, to DEMAND her check. Surprise, surprise the dyslexic switchboard STRIKES BACK!
She needs her money, and she can't travel to Puerto Rico!
0 star is probably too much!
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