Compound Interest Calculator
Savings Account from Prime Alliance Bank with 4.50% APY and $1 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Prime Alliance Bank with 4.50% APY and $1 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 $31,059. The interest earned would be $11,059 and the tax amount on the interest earned would be approximately $3,318.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Prime Alliance Bank

Savings Boost of
$7,423 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Prime Alliance Bank Interest Earned $7,742

 

 

See comparison detail table

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.

Comparison Detail Table Close X

Average Rate Scenario

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

Prime Alliance Bank Scenario

Rate:
4.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 900 630
2 20,900 941 658
3 21,841 983 688
4 22,823 1,027 719
5 23,850 1,073 751
6 24,924 1,122 785
7 26,045 1,172 820
8 27,217 1,225 857
9 28,442 1,280 896
10 29,722 1,337 936
TOTAL: $11,059 $7,742

Take Action

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.


Recent Rate Changes



Date APY
August 20, 2023 4.50%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.

Last change: ↓0.10% on October 1.



Customer Reviews for Prime Alliance Bank (11)


  • May 6, 2023 |

    Online Savings Rates

    Fully functional bank account that would be great for my needs, but the quarterly interest payment thing is a real nuisance. I wish they would change it. It isn't market.

  • September 20, 2022 |

    Prime Alliance Bank has a single branch (outside Salt Lake City) and does an excellent job with distance banking (we are based in Washington state). It stands out in several ways: (1) Interfacing with the bank is a dream come true. A live human being actually answers the phone (no queue line) and that person can usually handle the issue. (2) Another amazing standout feature is the speed at which they agreed to prepare a Bank Verification Letter that Amex was requiring when I opened took out a an Amex card. (3) As far as the account itself goes, Prime Alliance grants check writing privileges and allows joint (to include JTWROS) accounts, with a POD (Pay on Death) option (it is surprising how some of the high interest paying banks do not permit joint accounts or do not allow the Pay on Death feature. (4) Best feature of all: ACH transfers to my other bank accounts arrive THE NEXT DAY (submit request before 5pm MST). Never had a bank so fast on these. I am used to these taking 2 to 3 business days, often 3. Online interface is excellent. My sole regret is not dumping the major name brand bank I was using years earlier.

  • December 6, 2021 |

    Online Savings Rates

    Works fine, but I wish interest were credited monthly and not quarterly.

  • November 15, 2021 |

    Online Savings Rates

    Great rate and never a problem.

  • October 1, 2021 | | Replies 1

    Online Savings Rates

    I opened the account, having seen it listed on this site or on ratesandinfo.com after they raised their rate. I have not been disappointed but I have not needed to reach customer service. I did notice that interest is only credited quarterly and that means you will lose accrued interest in you close it on a day other than Jan 1, April 1, July 1 or October 1.

    jennilou23 | Apr 4, 2022

    You will not lose interest if closed before the next interest posting


Add Your Review


or use your BestCashCow account

or