Compound Interest Calculator
CD 2-year Account from Benchmark Community Bank with 3.80% APY and $501 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Benchmark Community Bank Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 2-year Account from Benchmark Community Bank with 3.80% APY and $501 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 $29,040. The interest earned would be $9,040 and the tax amount on the interest earned would be approximately $2,712.

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 Benchmark Community Bank

Savings Boost of
$5,381 over 10 years

Cash Savings $20,000

Average Interest Earned $947

Benchmark Community Bank Interest Earned $6,328

Compare

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

Benchmark Community Bank Scenario

	Rate: 3.80%	Annual Interest	Annual Interest (After Tax)
1	20,000	760	532
2	20,760	789	552
3	21,549	819	573
4	22,368	850	595
5	23,218	882	618
6	24,100	916	641
7	25,016	951	665
8	25,966	987	691
9	26,953	1,024	717
10	27,977	1,063	744
	TOTAL:	$9,040	$6,328

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
January 29, 2024	3.80%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.
ableBanking, a division of Northeast Bank	4.70%	$500	Learn More
Last change: ↓0.50% on October 1.

Compound Interest Calculator CD 2-year Account from Benchmark Community Bank with 3.80% APY and $501 minimum deposit