The product CD 5-year Account from WESTMARK with 1.00% APY and $500 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 $22,092. The interest earned would be $2,092 and the tax amount on the interest earned would be approximately $628.
Please note that this product is available in Idaho 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: 1.00% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 200 | 140 |
| 2 | 20,200 | 202 | 141 |
| 3 | 20,402 | 204 | 143 |
| 4 | 20,606 | 206 | 144 |
| 5 | 20,812 | 208 | 146 |
| 6 | 21,020 | 210 | 147 |
| 7 | 21,230 | 212 | 149 |
| 8 | 21,443 | 214 | 150 |
| 9 | 21,657 | 217 | 152 |
| 10 | 21,874 | 219 | 153 |
| TOTAL: | $2,092 | $1,465 |
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? | ||
|---|---|---|---|---|
|
|
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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|
|
4.80% |
$50,000 |
Learn More | |
|
Last change: ↓0.09% on December 7. |
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|
|
4.75% |
$50,000 |
Learn More | |
|
Last change: ↑0.25% on November 25. |
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|
|
4.70% |
$1,000 |
Learn More | |
|
Last change: ↑0.70% on December 7. |
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Customer Reviews for Westmark
hhenry
December 24, 2020
I would really love to be a fan. I really would. I know people who work at Westmark CU, whom I very much like and respect; and I like to support locally-owned businesses. But this latest debacle confirms the previous poor opinion I had of Westmark. Bottom line is that I am out of patience and time.
I have spent literally hours on the phone trying to get an answer to a straightforward question: how is a payment to a car loan applied when there is a late fee involved? Without exception, I get a different answer depending on who I talk to (teller, supervisor, branch manager, person the legal department) and so far, all answers are devoid of logic and the math doesn't work.
It appears personnel training is poor, and there is lack of consistency in applying policy. It is maddening to continually get different answers. The upshot of all this is that the customer gets blamed for "not understanding" and no reasonable/rational answers are forthcoming.
As an aside, I waited a week to get information that was promised to be sent via email and snail mail. As it turns out, the information (sensitive in nature) was sent to the wrong email address (huge security concern) after that email address was twice confirmed, and NOT mailed via snail mail as promised. Was there an apology? NOPE.
Based on these experiences, I cannot recommend Westmark CU.
Is this review helpful? Yes:0 / No: 0
Janice
April 22, 2020 |
Why is swift code of Westmark to receive international wire
Is this review helpful? Yes:0 / No: 0
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