The product Money Market Account from Texas First Bank with 0.15% APY and $25,000 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 $20,302. The interest earned would be $302 and the tax amount on the interest earned would be approximately $91.
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.
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: 0.15% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 30 | 21 |
| 2 | 20,030 | 30 | 21 |
| 3 | 20,060 | 30 | 21 |
| 4 | 20,090 | 30 | 21 |
| 5 | 20,120 | 30 | 21 |
| 6 | 20,150 | 30 | 21 |
| 7 | 20,181 | 30 | 21 |
| 8 | 20,211 | 30 | 21 |
| 9 | 20,241 | 30 | 21 |
| 10 | 20,272 | 30 | 21 |
| TOTAL: | $302 | $211 |
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? | ||
|---|---|---|---|---|
|
|
5.00% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on October 28. |
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|
|
5.00% |
$500 |
Learn More | |
|
Last change: ↑3.00% on August 7. |
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|
|
4.91% |
$25,000 |
Learn More | |
|
Last change: ↓0.09% on October 17. |
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|
|
4.90% |
$10,000 |
Learn More | |
|
Last change: ↓0.15% on September 6. |
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|
|
4.90% |
$500 |
Learn More | |
|
Last change: ↓0.05% on September 27. |
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Customer Reviews for Texas First Bank
utpara4
January 23, 2021 |
This is the WORST bank ever!! We had a substantial amount of money taken from our accounts. When we first discovered it, we immediately met with Sue Hearn, VP in The Woodlands. Her first reaction was to play "detective" and immediately look at my husband and I as the criminals. Her questioning was beyond belief! Needless to say, it took 7 weeks for us to get our monies returned. Speaking to the CEO, Christopher Doyle was like talking to a Kindergartener. We got no where with him but empty promises. Then they had us talk with their investigator, Clay Perry. He was the only one who had any common sense in doing what was the right thing to do and that was to get us our money back.
There is absolutely ZERO security at this bank. You put your money there and your entire identity is GREATLY AT RISK! The person(s) who stole our money were able to change our bank profile and did in September 2020 and we were not notified until December 7, 2020. When the funds were removed and it is a very large sum we WERE NEVER NOTIFIED. It wasn't until we looked at the account. They had a girl named Jade who "supposedly" tried to call 1 of the 3 phone numbers which just happened to belong to the "International Money Fund," a scam number but she did not have enough sense to call the other 2 phone numbers.
Also, Sue Hearn, the VP "accidentally" emailed me "personal and confidential" information regarding their employees. What kind of security is that? Then Sue had the audacity to email me and tell me to "disregard because it was inadvertently sent to me." Are you kidding? Again, ZERO ZERO SECURITY AT THIS BANK!!!!
If you have an account here, BEWARE!! Should your identity get stolen from this bank, be prepared to wait and wait and wait. You will be treated as a "criminal" rather than the victim. There is absolutely no integrity with Sue Hearn, Robin McDougald and Christopher Doyle. This bank needs to be reported and if you think that being insured by the FDIC will get your money you are sadly mistaken. As Christopher Doyle stated, "if our bank did not do this, there is nothing we can do." Meaning, you will LOSE ALL YOUR MONIES WITH THIS BANK!
Take this seriously and get out of any association with Texas First Bank!
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