The product CD 5-year Account from Union Savings Bank with 1.25% 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 $22,645. The interest earned would be $2,645 and the tax amount on the interest earned would be approximately $794.
Please note that this product is available in Ohio 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: 0.92% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 183 | 128 |
| 2 | 20,183 | 185 | 129 |
| 3 | 20,368 | 186 | 130 |
| 4 | 20,554 | 188 | 132 |
| 5 | 20,742 | 190 | 133 |
| 6 | 20,932 | 192 | 134 |
| 7 | 21,123 | 193 | 135 |
| 8 | 21,317 | 195 | 137 |
| 9 | 21,512 | 197 | 138 |
| 10 | 21,709 | 199 | 139 |
| TOTAL: | $1,907 | $1,335 |
| Rate: 1.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 250 | 175 |
| 2 | 20,250 | 253 | 177 |
| 3 | 20,503 | 256 | 179 |
| 4 | 20,759 | 259 | 182 |
| 5 | 21,019 | 263 | 184 |
| 6 | 21,282 | 266 | 186 |
| 7 | 21,548 | 269 | 189 |
| 8 | 21,817 | 273 | 191 |
| 9 | 22,090 | 276 | 193 |
| 10 | 22,366 | 280 | 196 |
| TOTAL: | $2,645 | $1,852 |
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 Union Savings Bank
Patty
March 21, 2020 |
Well here comes good old Union Savings the absolute worst bank to deal with in the world again today. We have no money coming in right now so we did not send in the mortgage payment yet because our family may need the money for food. So here comes a NASTY LETTER saying and I quote WE MAY REPORT INFORMATION ABOUT YOUR ACCOUNT TO CREDIT BUREAUS..LATE PAYMENTS.MISSED PAYMENTS OR OTHER DEFAULTS ON YOUR ACCOUNT MAY BE REFLECTED IN YOUR CREDIT REPORT IF PAYMENT IS 30 DAYS PAST DUE how NICE. May I ask how many people out there that are not working right now if you had to choose to make a payment or feed your family what would you do? This is not the first time we have been treated like dogs by this UNION SAVINGS my husband lost his job after being at a small company for 16years that went out of business 2 years ago when we went to this AWFUL NASTY BANK and tried to refinance we received NO HELP AT ALL OF COURSE THEY WERE SENDING LETTERS SAYING THEY WERE GOING TO TAKE OUR HOME ETC. PLEASE DO YOURSELF A FAVOR DON'T EVER, EVER USE THIS BANK FOR ANYTHING THEY DON'T GIVE A DAMN ABOUT THEIR CUSTOMERS AND WOULD NEVER HELP YOU IN A TIME OF NEED PERIOD. THIS IS MY HEART FELT OPION SHAME ON THEM!!!!
Is this review helpful? Yes:1 / No: 2
Autummoon
February 8, 2019 |
I went to the Union Savings Bank branch this morning, they won't honor the 2.50% APY for 6 Month CD as posted her in the BestCashCow website. I was told that Union Savings doesn't post their rate online and doesn't match online rate from any back or online back.
Is this review helpful? Yes:1 / No: 3
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