The product Money Market Account from Rondout Savings Bank with 0.26% APY and $10,000 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 $20,526. The interest earned would be $526 and the tax amount on the interest earned would be approximately $158.
Please note that this product is available in New York 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 | 20,091 | 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 |
| Rate: 0.26% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 52 | 36 |
| 2 | 20,052 | 52 | 36 |
| 3 | 20,104 | 52 | 37 |
| 4 | 20,156 | 52 | 37 |
| 5 | 20,209 | 53 | 37 |
| 6 | 20,261 | 53 | 37 |
| 7 | 20,314 | 53 | 37 |
| 8 | 20,367 | 53 | 37 |
| 9 | 20,420 | 53 | 37 |
| 10 | 20,473 | 53 | 37 |
| TOTAL: | $526 | $368 |
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 Rondout Savings Bank
pessy
May 22, 2023 |
The Bank Rondout Savings Bank is SCAM and bad company
This is horrible bank , the loans insisted that I must come in the office before they will review my application for loan. But Everything is done online nowadays and I don't have to be there in person, I have provided all my documents and social security, what they should do is to run my credit rather than telling me to spend 250 for transportation to travel to upstate. The personal loan officer there is not a good person. People should stay away from this bank they are scammers and unprofessional. They lie to me. They are corny and deceitful. The personal loan officer insisted that I must when I came to the office for nothing, the following day he denied me the loans he is not a good person to do me that after I have spent money and time to travel there. The worst horrible bank ever. THE PERSONAL LOAN OFFICER THERE IS A WICKED MAN. THE BANK SHOULD REMOVE THAT MAN IMMEDIATELY. HORRIBLE , THE WORST BANK ON EARTH
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enemeth
March 6, 2020 |
I found that employees were not consistent and gave me the run around on multiple occasions. I had been a customer for 32 years and they did not hesitate when I asked to close all of my accounts and remove over $20,000.00. They do not seem to care about their loyal customers and have terrible customer service. Anything other than a simple deposit seemed to turn into an ordeal and always had to make trips into the bank. If you are enrolled in electronic banking they did not allow for transfer of money between checking and savings accounts without going into the bank. It seemed as though things went downhill there over the last few years and I look forward to easier banking elsewhere.
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