Compound Interest Calculator
CD 1-year Account from Centera Bank with 2.26% APY and $500 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Centera Bank Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 1-year Account from Centera Bank with 2.26% APY and $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 $25,009. The interest earned would be $5,009 and the tax amount on the interest earned would be approximately $1,503.

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 Centera Bank

Savings Boost of
$2,714 over 10 years

Cash Savings $20,000

Average Interest Earned $792

Centera Bank Interest Earned $3,506

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: 0.55%	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

Centera Bank Scenario

	Rate: 2.26%	Annual Interest	Annual Interest (After Tax)
1	20,000	452	316
2	20,452	462	324
3	20,914	473	331
4	21,387	483	338
5	21,870	494	346
6	22,364	505	354
7	22,870	517	362
8	23,387	529	370
9	23,915	540	378
10	24,456	553	387
	TOTAL:	$5,009	$3,506

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 17, 2024	2.26%

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 1-year Account from Centera Bank with 2.26% APY and $500 minimum deposit