The product CD 3-year Account from The First National Bank and Trust Company of Miami with 0.70% 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 $21,445. The interest earned would be $1,445 and the tax amount on the interest earned would be approximately $433.
Please note that this product is available in Oklahoma 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: 0.75% |
Annual Interest |
Annual Interest (After Tax) |
|
---|---|---|---|
1 | 20,000 | 150 | 105 |
2 | 20,150 | 151 | 106 |
3 | 20,301 | 152 | 107 |
4 | 20,453 | 153 | 107 |
5 | 20,607 | 155 | 108 |
6 | 20,761 | 156 | 109 |
7 | 20,917 | 157 | 110 |
8 | 21,074 | 158 | 111 |
9 | 21,232 | 159 | 111 |
10 | 21,391 | 160 | 112 |
TOTAL: | $1,552 | $1,086 |
Rate: 0.70% |
Annual Interest |
Annual Interest (After Tax) |
|
---|---|---|---|
1 | 20,000 | 140 | 98 |
2 | 20,140 | 141 | 99 |
3 | 20,281 | 142 | 99 |
4 | 20,423 | 143 | 100 |
5 | 20,566 | 144 | 101 |
6 | 20,710 | 145 | 101 |
7 | 20,855 | 146 | 102 |
8 | 21,001 | 147 | 103 |
9 | 21,148 | 148 | 104 |
10 | 21,296 | 149 | 104 |
TOTAL: | $1,445 | $1,011 |
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. |
||||
|
4.91% |
$25,000 |
Learn More | |
Last change: ↓0.09% on October 17. |
||||
|
4.90% |
$10,000 |
Learn More | |
Last change: ↓0.15% on September 6. |
||||
|
4.90% |
$500 |
Learn More | |
Last change: ↓0.05% on September 27. |
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|
4.90% |
$1,000 |
Learn More | |
Last change: ↓0.10% on October 1. |
Customer Reviews for The First National Bank and Trust Company of Miami
Murph
January 12, 2023 |
so really, I know that 0 real shits are given but the chance at persuading even a single person would make this worth my while and granted everyone's experience is not the same.
I've been doing business with First National Bank here in Miami since I was 15, so 21 years. a four wheeler, a few car loans and a couple of home refinances which brings us to about 5 years ago. I was just coming out of a relationship and fell onto some difficult times so much so that a truck, which was through the dealership, had gotten repossessed as well as my credit score dropping drastically as to be expected. during this time I had made an effort to support our local bank, kept in contact even personally went in and talked to the VP about everything that was going on and the hardships that I had been going through all while still keeping up on my payments, aside from maybe 30 days late, but still put forth my best effort to stay in good standings with our local bank.
fast forward a few years
I had finally found light at the end of the tunnel and finances were being taken care of and so I made another appearance and spoke with the VP and still once again explained everything to him as well as having the money to pay off a loan that I had with them the entire time. I ask the VP what I could do to show good faith and he informed me that I could switch over to a secured loan, I'm guessing so they could collect interest on me rather than just paying off the loan, and so I did. approx 2 years later with my credit coming back up but still not that great I go in to try to get a loan for a $6000 truck for transportation and as expected I got denied because my score was too low. I can mildly understand that so okay. well 6 months later with a credit score that qualifies, I go in and ask for a loan on some commercial property, ask for around 30% less than the property is worth as well as my now wife on the application with me with a reasonable debt to income ratio and I get denied. after 20+ years of business and making sure I communicated while still managing to keep the local bank paid, I get denied. the property was worth approx 90,000 and I was asking for 65k plus they also wanted my home for collateral which would make it under 30% of the value and they came back and said that they could give me 40,000..... very aggravating so please consider this if you think that helping support a local business or more so First National Bank.
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