Compound Interest Calculator
Money Market Account from Quontic Bank with 5.00% APY and $100 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Quontic Bank with 5.00% APY and $100 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 $32,578. The interest earned would be $12,578 and the tax amount on the interest earned would be approximately $3,773.

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 Quontic Bank

Savings Boost of
$8,485 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Quontic Bank Interest Earned $8,805

 

 

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 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

Quontic Bank Scenario

Rate:
5.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,000 700
2 21,000 1,050 735
3 22,050 1,103 772
4 23,153 1,158 810
5 24,310 1,216 851
6 25,526 1,276 893
7 26,802 1,340 938
8 28,142 1,407 985
9 29,549 1,477 1,034
10 31,027 1,551 1,086
TOTAL: $12,578 $8,805

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
November 24, 2023 5.00%
August 20, 2023 4.75%


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: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.



Customer Reviews for Quontic Bank


  • March 17, 2023 |

    STAY AWAY !

    They closed my accounts with no warning.

    After multiple successful direct deposits and mobile checks deposits, they claimed one of the three checks I deposited a few days ago was fake. Not sure why. They won't say why. It was a legit payroll check.They actually accepted the other 2 checks. Same exact payroll company, same everything.

    But get this. Instead of reaching out, or rejecting the deposit, they simply closed all my accounts and cutoff all access to my funds. I can't even look at my account info online. No warning.

    And even after many calls back ad forward, they now understand it's not my fault and that there was no intention to defraud. Yet they are still closing my accounts and refusing to even let me look at balances, etc...

    They are sending me a check (yes, really) for the balance of my accounts. Will not tell me how much.

    This is absolutely insane.

    DO NOT DO BUSINESS WITH THEM.
    YOU WILL REGRET IT.

  • February 15, 2021 |

    Online Savings Rates

    Borrowing in USD and lending in BTC, what could possibly go wrong??? (You are the lender in USD).

  • February 12, 2021 |

    Online Savings Rates

    I opened a CD last summer and received well below the contracted rate due to their delay, not mine. I discovered it months later and had no recourse. I am bombarded with ads and other promotions. i have even received phone calls from India that I believe originate from opening this account. I feel like the victim of a phishing operation.

  • February 10, 2021 |

    Online Savings Rates

    Bitcoin is a mugs game and since this bank is all about bitcoin, I think it might be too!

  • February 2, 2021 |

    Opened up a savings account and my rate is double what I had with my last account. Sign up was super easy so so far so good with Quontic!


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