Compound Interest Calculator
CD 9-month Account from Charles Schwab Bank, SSB with 4.22% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 9-month Account from Charles Schwab Bank, SSB with 4.22% APY and $1,000 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 $30,237. The interest earned would be $10,237 and the tax amount on the interest earned would be approximately $3,071.

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 Charles Schwab Bank, SSB

Savings Boost of
$6,846 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Charles Schwab Bank, SSB Interest Earned $7,166

 

 

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 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

Charles Schwab Bank, SSB Scenario

Rate:
4.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 844 591
2 20,844 880 616
3 21,724 917 642
4 22,640 955 669
5 23,596 996 697
6 24,592 1,038 726
7 25,629 1,082 757
8 26,711 1,127 789
9 27,838 1,175 822
10 29,013 1,224 857
TOTAL: $10,237 $7,166

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
December 23, 2024 4.22%
December 16, 2024 4.33%
December 6, 2024 4.43%
November 18, 2024 4.42%
November 4, 2024 4.37%
October 18, 2024 4.42%
September 22, 2024 4.37%
September 11, 2024 4.53%
August 31, 2024 4.63%
August 16, 2024 4.48%
August 2, 2024 4.53%
July 29, 2024 5.03%
November 26, 2023 5.54%
September 1, 2023 5.54%
August 19, 2023 5.49%


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Customer Reviews for Charles Schwab Bank, SSB


  • February 12, 2020

    WILL YOU CASH MY EE SAVINGS BONDS? PLEASE ADVISE.


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