The product CD 6-month Account from United Business Bank with 0.25% 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 $20,506. The interest earned would be $506 and the tax amount on the interest earned would be approximately $152.
Please note that this product is available in New Mexico 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: 0.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 50 | 35 |
| 2 | 20,050 | 50 | 35 |
| 3 | 20,100 | 50 | 35 |
| 4 | 20,150 | 50 | 35 |
| 5 | 20,201 | 51 | 35 |
| 6 | 20,251 | 51 | 35 |
| 7 | 20,302 | 51 | 36 |
| 8 | 20,353 | 51 | 36 |
| 9 | 20,404 | 51 | 36 |
| 10 | 20,455 | 51 | 36 |
| TOTAL: | $506 | $354 |
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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|
|
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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|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on October 28. |
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Customer Reviews for United Business Bank
Small Company
April 9, 2020 |
I would stay away from this bank. It was much better run when it was Valley Community Bank, but went into the toilet when it was bought by Bay Commercial Bank. Their online banking terms and conditions changed to say if they gave you a virus or got your data stolen from their servers, you couldn't blame them. You couldn't link personal and corporate accounts unless they were all registered to the exact same SSN. Now that they merged into United Business Bank nothing much has changed. SBA loans are like pulling teeth. I guess they don't understand that these are backed by the Federal government and that minimizes their risk, but they treat you like you are a criminal out to rip them off. We have been a personal and corporate client for close to 20 years, but are changing banks right now.
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