Compound Interest Calculator
CD 2-year Account from Banesco USA with 3.75% APY and $1,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from Banesco USA with 3.75% APY and $1,500 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 $28,901. The interest earned would be $8,901 and the tax amount on the interest earned would be approximately $2,670.

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
$5,283 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
Banesco USA Interest Earned $6,231

 

 

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:
0.66%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 131 92
2 20,131 132 93
3 20,264 133 93
4 20,397 134 94
5 20,531 135 94
6 20,666 136 95
7 20,801 137 96
8 20,938 138 96
9 21,076 138 97
10 21,214 139 98
TOTAL: $1,354 $947

Banesco USA Scenario

Rate:
3.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 750 525
2 20,750 778 545
3 21,528 807 565
4 22,335 838 586
5 23,173 869 608
6 24,042 902 631
7 24,944 935 655
8 25,879 970 679
9 26,849 1,007 705
10 27,856 1,045 731
TOTAL: $8,901 $6,231

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 3.75%
August 21, 2024 3.80%
November 28, 2023 0.50%
August 20, 2023 0.55%


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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.


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