The product Savings Account from Regal Bank with 0.25% 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 $20,506. The interest earned would be $506 and the tax amount on the interest earned would be approximately $152.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
Our records indicate that this institution has been acquired by Somerset Regal Bank.
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: 0.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 50 | 35 |
| 2 | 20,050 | 50 | 35 |
| 3 | 20,100 | 50 | 35 |
| 4 | 20,150 | 50 | 35 |
| 5 | 20,201 | 51 | 35 |
| 6 | 20,251 | 51 | 35 |
| 7 | 20,302 | 51 | 36 |
| 8 | 20,353 | 51 | 36 |
| 9 | 20,404 | 51 | 36 |
| 10 | 20,455 | 51 | 36 |
| TOTAL: | $506 | $354 |
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. |
||||
|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↓0.09% on December 7. |
||||
|
|
4.75% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on November 25. |
||||
|
|
4.70% |
$1,000 |
Learn More | |
|
Last change: ↑0.70% on December 7. |
||||
|
|
4.65% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 4. |
||||
Customer Reviews for Regal Bank (2)
JoeFox
August 30, 2017 | | Replies 1
Terrible customer service. Extreme inconvenience. Manager hung-up in my face when I tried to proactively find solution rather than him proactively making sure customer satisfaction happens. Hope he loses his jobs when this place shuts down for ancient and irrelevant banking
Is this review helpful? Yes:1 / No: 0
| Dec 26, 2020
My experience with Regal Bank was excellent. In fact Regal Bank offers the highest IRA CD RATES!!!
Add Your Review
or use your BestCashCow account