Compound Interest Calculator
CD 1-year Account from Banesco USA with 4.20% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Banesco USA with 4.20% 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 $30,179. The interest earned would be $10,179 and the tax amount on the interest earned would be approximately $3,054.

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 Banesco USA

Savings Boost of
$6,333 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
Banesco USA Interest Earned $7,125

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 112 78
4 20,333 112 79
5 20,445 113 79
6 20,558 113 79
7 20,672 114 80
8 20,786 115 80
9 20,900 115 81
10 21,016 116 81
TOTAL: $1,132 $792

Banesco USA Scenario

Rate:
4.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 840 588
2 20,840 875 613
3 21,715 912 638
4 22,627 950 665
5 23,578 990 693
6 24,568 1,032 722
7 25,600 1,075 753
8 26,675 1,120 784
9 27,795 1,167 817
10 28,963 1,216 852
TOTAL: $10,179 $7,125

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
October 29, 2024 4.20%
August 21, 2024 4.50%
August 21, 2024 5.15%
April 19, 2024 5.15%
March 12, 2024 5.00%
March 6, 2024 5.20%
February 6, 2024 4.75%
January 19, 2024 4.80%
December 19, 2023 4.90%
December 5, 2023 5.00%
November 28, 2023 5.25%
August 20, 2023 4.10%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.09% on December 7.
6 Month Jumbo CD.

Last change: ↑0.25% on November 25.

Last change: ↑0.70% on December 7.



Customer Reviews for Banesco USA (9)


  • December 27, 2022

    CDs 6 Month Rates

    They gave a hard time with their cashier's check. They returned my deposited check that was emitted by them. Could you believe?

  • June 25, 2020 |

    Online CDs 12 Month Rates

    Nope. As with the CIT quote 1.25% APY is a bit optimistic. Banesco's site offers .90%.

  • January 9, 2020 |

    I opened a 2 year CD there 2 years ago. Now I'm trying to close it on maturity instead of having it automatically roll over into a new CD. They're giving me a hard time and wasting my time. Their website has bugs that caused me to get locked out. But I no longer need their website because I just want to close the CD on maturity and never do business with Banesco USA again. But they refuse unless I jump through their hoops. They're like a bunch of government bureaucrats whose job is to find obstacles to prevent people from doing anything without a huge waste of time.

  • June 5, 2019

    Their process for simply opening a savings account was over the top complicated and time consuming. Their process would make sense if you were trying to borrow money, but for giving them your money to hold it was unreasonable. I aborted the process with them and ended up opening an account with Comenity Bank. Their process was simple and quick, with a similarly high interest rate.

  • October 28, 2018

    Savings Rates

    used to have money market with them. zero customer service. They are good until there is a problem and then you are on you own.


Add Your Review


or use your BestCashCow account

or