Compound Interest Calculator
CD 5-year Account from Avidia Bank with 3.05% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Avidia Bank with 3.05% APY and $1,000 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 $27,009. The interest earned would be $7,009 and the tax amount on the interest earned would be approximately $2,103.

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 for Avidia Bank

Savings Boost of
$3,571 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Avidia Bank Interest Earned $4,906

 

 

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:
0.92%
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

Avidia Bank Scenario

Rate:
3.05%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 610 427
2 20,610 629 440
3 21,239 648 453
4 21,886 668 467
5 22,554 688 482
6 23,242 709 496
7 23,951 730 511
8 24,681 753 527
9 25,434 776 543
10 26,210 799 560
TOTAL: $7,009 $4,906

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.


Recent Rate Changes



Date APY
September 22, 2024 3.05%
August 31, 2024 3.56%
August 16, 2024 3.51%
January 22, 2024 3.82%


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Customer Reviews for Avidia Bank


  • August 16, 2019 |

    Deceptive Sales Practices: Huge Penalties

    What an awakening! Without any clear statement, and nothing at all on its website, Avidia charged us 50% of the CD’s FULL TERM interest, including both paid and unpaid interest. We lost roughly 10% of the entire original deposit. Avidia's website doesn’t mention or discuss penalties at all. Looking more carefully at the CD certificate, we now see that carefully chosen trick words were used, without any warning or explanation, to enable this ripoff. The CD was for 5 years at 1.56%, not a good deal to begin with. Once the penalty of all 5 years of interest was applied, the effective rate for that CD, withdrawn 2 years from inception, was roughly negative 5%.

    Our preferred bank (obviously not Avidia) charges 50% of ONE year's interest as a penalty for early withdrawal of a CD. We had naively thought that was the norm, but obviously got snookered. The tricky words, appearing once on the actual certificate: "the term."


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