Compound Interest Calculator
Money Market Account from Shinhan Bank America with 0.20% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Shinhan Bank America with 0.20% 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 $20,404. The interest earned would be $404 and the tax amount on the interest earned would be approximately $121.

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

The Results for Shinhan Bank America

Savings Boost of
$-36 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Shinhan Bank America Interest Earned $283

 

 

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

Shinhan Bank America Scenario

Rate:
0.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 40 28
2 20,040 40 28
3 20,080 40 28
4 20,120 40 28
5 20,160 40 28
6 20,201 40 28
7 20,241 40 28
8 20,282 41 28
9 20,322 41 28
10 20,363 41 29
TOTAL: $404 $283

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.



Featured CD Rates

ONLINE BANKS APY? MIN?

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

Last change: ↑3.00% on August 7.

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3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.



Customer Reviews for Shinhan Bank America


  • March 10, 2021 |

    I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $30.00. Now I thought there was a shortage of coins. Their reasoning was because they had been receiving so many Canadian coins in wrapped rolls. Really.....Yet you require your customers to write their account numbers on each one and if there's a discrepancy you can debit their account.


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