Compound Interest Calculator
CD 13-month Account from Banner Bank with 3.56% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 13-month Account from Banner Bank with 3.56% APY and $2,500 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 $28,376. The interest earned would be $8,376 and the tax amount on the interest earned would be approximately $2,513.

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 Banner Bank

Savings Boost of
$5,545 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Banner Bank Interest Earned $5,863

 

 

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

Banner Bank Scenario

Rate:
3.56%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 712 498
2 20,712 737 516
3 21,449 764 535
4 22,213 791 554
5 23,004 819 573
6 23,823 848 594
7 24,671 878 615
8 25,549 910 637
9 26,459 942 659
10 27,400 975 683
TOTAL: $8,376 $5,863

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 14, 2024 3.56%
December 4, 2023 3.82%
December 4, 2023 1.00%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↑3.00% on August 7.

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

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.



Customer Reviews for Banner Bank


  • March 25, 2020 |

    Banner bank is sometimes hard to work with. If you have a construction loan to get a disbursement you fill out a sheet with the line item (not a big deal). Then they schedule an inspection that you pay $150 for each time! Well hell's bells how many milestones are there in a construction project! It is a great racket on their part.


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