Compound Interest Calculator
CD 6-month Account from 1st Summit Bank with 0.26% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 6-month Account from 1st Summit Bank with 0.26% 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 $20,526. The interest earned would be $526 and the tax amount on the interest earned would be approximately $158.

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
$50 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
1st Summit Bank Interest Earned $368

 

 

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:
0.23%
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

1st Summit Bank Scenario

Rate:
0.26%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 52 36
2 20,052 52 36
3 20,104 52 37
4 20,156 52 37
5 20,209 53 37
6 20,261 53 37
7 20,314 53 37
8 20,367 53 37
9 20,420 53 37
10 20,473 53 37
TOTAL: $526 $368

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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