The product Money Market Account from TIAA Bank / Everbank with 2.02% APY and $0 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 $24,428. The interest earned would be $4,428 and the tax amount on the interest earned would be approximately $1,328.
Please note that 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: 0.22% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 45 | 31 |
| 2 | 20,045 | 45 | 31 |
| 3 | 20,090 | 45 | 32 |
| 4 | 20,135 | 45 | 32 |
| 5 | 20,180 | 45 | 32 |
| 6 | 20,225 | 45 | 32 |
| 7 | 20,270 | 45 | 32 |
| 8 | 20,316 | 46 | 32 |
| 9 | 20,361 | 46 | 32 |
| 10 | 20,407 | 46 | 32 |
| TOTAL: | $453 | $317 |
| Rate: 2.02% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 404 | 283 |
| 2 | 20,404 | 412 | 289 |
| 3 | 20,816 | 420 | 294 |
| 4 | 21,237 | 429 | 300 |
| 5 | 21,666 | 438 | 306 |
| 6 | 22,103 | 446 | 313 |
| 7 | 22,550 | 456 | 319 |
| 8 | 23,005 | 465 | 325 |
| 9 | 23,470 | 474 | 332 |
| 10 | 23,944 | 484 | 339 |
| TOTAL: | $4,428 | $3,099 |
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.
| Date | APY |
|---|---|
| January 15, 2025 | 2.02% |
| November 11, 2024 | 1.00% |
| April 22, 2024 | 3.75% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.55% |
$50,000 |
Learn More | |
|
Last change: ↓0.10% on February 9. |
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|
|
4.55% |
$1,000 |
Learn More | |
|
Last change: ↓0.50% on October 1, 2024. |
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|
|
4.50% |
$500 |
Learn More | |
|
Last change: ↑0.20% on January 18. |
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|
|
4.50% |
$1,500 |
Learn More | |
|
Last change: ↓0.15% on January 25. |
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|
|
4.50% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on April 9. |
||||
Customer Reviews for TIAA Bank / Everbank (43)
smithy1968
March 20, 2025 |
A non-customer-friendly organization that just switches between two contaminated brands trying to bring back some sort of goodwill that it had before it started selling fake foreign currency CDs in 2006 and 2007.
Is this review helpful? Yes:0 / No: 0
redstate jeff
October 29, 2024 |
Same ole Neverbank. They changed the name and then changed it back but nothing has changed in 20 years. First they loop you in to some sort of teaser rate (now it is 5.05%, but it has been lower). Then they tell you that you don't really qualify for the rate so you are earning some lower rate (now it is 4%). I went through this nonsense years ago, but was eager to do business with a Jacksonville, FL bank again (I leave here). I got fooled again. Don't be a red state fool like red state Jeff and stay away. Jeff.
Is this review helpful? Yes:0 / No: 0
lrcbob
July 26, 2024 |
Easy to set up a new account with Everbank, unlike other banks posting high interest rates of this site. I currently have a CD and a savings account with them.
Is this review helpful? Yes:0 / No: 0
Trey D
November 12, 2023 |
This was terrible as Everbank. Then it was terrible as TIAA. Now it is terrible as Everbank again. Not sure where they are going with the branding, but still terrible. (Bestcashcow's system is forcing me to give it one-half star but it should be zero).
Is this review helpful? Yes:2 / No: 0
TRU
January 9, 2023 |
TIAA stole money from university professors and staff and mismanaged assets so badly that a generation of people in academia were denied a comfortable retirement.
Is this review helpful? Yes:3 / No: 4
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