Compound Interest Calculator
CD 5-year Account from Carver Federal Savings Bank with 0.74% APY and $10,000 minimum deposit

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The product CD 5-year Account from Carver Federal Savings Bank with 0.74% APY and $10,000 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 $21,530. The interest earned would be $1,530 and the tax amount on the interest earned would be approximately $459.

Please note that this product is available in New York and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Carver Federal Savings Bank

Savings Boost of
$-264 over 10 years

Cash Savings $20,000

Average Interest Earned $1,335

Carver Federal Savings Bank Interest Earned $1,071

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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

Carver Federal Savings Bank Scenario

	Rate: 0.74%	Annual Interest	Annual Interest (After Tax)
1	20,000	148	104
2	20,148	149	104
3	20,297	150	105
4	20,447	151	106
5	20,599	152	107
6	20,751	154	107
7	20,905	155	108
8	21,059	156	109
9	21,215	157	110
10	21,372	158	111
	TOTAL:	$1,530	$1,071

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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.

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Compound Interest Calculator CD 5-year Account from Carver Federal Savings Bank with 0.74% APY and $10,000 minimum deposit