Compound Interest Calculator
CD 4-year Account from 1st Summit Bank with 0.76% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 4-year Account from 1st Summit Bank with 0.76% 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 $21,573. The interest earned would be $1,573 and the tax amount on the interest earned would be approximately $472.

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

The Results for 1st Summit Bank

Savings Boost of
$-78 over 10 years
Cash Savings $20,000
Average Interest Earned $1,179

 
1st Summit Bank Interest Earned $1,101

 

 

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

Average Rate Scenario

Rate:
0.81%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 162 114
2 20,162 164 115
3 20,326 165 116
4 20,491 166 116
5 20,658 168 117
6 20,825 169 118
7 20,994 170 119
8 21,165 172 120
9 21,337 173 121
10 21,510 175 122
TOTAL: $1,685 $1,179

1st Summit Bank Scenario

Rate:
0.76%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 152 106
2 20,152 153 107
3 20,305 154 108
4 20,459 155 109
5 20,615 157 110
6 20,772 158 111
7 20,930 159 111
8 21,089 160 112
9 21,249 161 113
10 21,410 163 114
TOTAL: $1,573 $1,101

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.



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Customer Reviews for 1st Summit Bank


  • January 18, 2020 |

    I and my colleagues have all had trouble with our travelers debit prepaid cards. Right now I'm in the middle of trying to get ahold of a customer representative because the card shows that there's money on it and yet it doesn't seem to work when I attempt to use it.


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