Compound Interest Calculator

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Best Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product Savings with 5.130% interest rate 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 $32,983. The interest earned would be $12,983 and the tax amount on the interest earned would be approximately $3,895.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results

Savings Boost of
$8,769 over 10 years

Cash Savings $20,000

Average Interest Earned $320

Best Interest Earned $9,088

See comparison detail table

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.

Comparison Detail Table Close X

Scenario 1

	Rate: 0.23%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	32
2	20,045	45	32
3	20,091	45	32
4	20,136	46	32
5	20,181	46	32
6	20,227	46	32
7	20,273	46	32
8	20,319	46	32
9	20,364	46	32
10	20,410	46	32
	TOTAL:	$457	$320

Scenario 2

	Rate: 5.13%	Annual Interest	Annual Interest (After Tax)
1	20,000	1,026	718
2	21,026	1,079	755
3	22,105	1,134	794
4	23,239	1,192	834
5	24,431	1,253	877
6	25,684	1,318	922
7	27,002	1,385	970
8	28,387	1,456	1,019
9	29,843	1,531	1,072
10	31,374	1,609	1,127
	TOTAL:	$12,983	$9,088

Take Action

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.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.
Finworth, a division of InsBank	4.75%	$50,000	Learn More
Last change: ↑0.25% on November 25.