Compound Interest Calculator
CD 5-year Account from Citizens First Bank with 2.28% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Citizens First Bank with 2.28% 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 $25,057. The interest earned would be $5,057 and the tax amount on the interest earned would be approximately $1,517.

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 Citizens First Bank

Savings Boost of
$2,205 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Citizens First Bank Interest Earned $3,540

 

 

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:
0.92%
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

Citizens First Bank Scenario

Rate:
2.28%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 456 319
2 20,456 466 326
3 20,922 477 334
4 21,399 488 342
5 21,887 499 349
6 22,386 510 357
7 22,897 522 365
8 23,419 534 374
9 23,953 546 382
10 24,499 559 391
TOTAL: $5,057 $3,540

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 11, 2023 2.28%


Featured CD Rates

ONLINE BANKS APY? MIN?

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

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

Last change: ↓0.15% on September 6.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.

Last change: ↓0.50% on October 1.



Customer Reviews for Citizens First Bank


  • December 8, 2023

    We have been banking with Citizen's First for 4 years. Their branches, service, website, and employee attitudes are and always have been excellent. Their branches are warmly personal with free buttered popcorn and personal touches throughout. Not like the cold impersonal larger banks such as Chase and Truist we have left. You are treated not so much as just another customer, but as a friend . They have close personal ties and involvement to their communities. They offer a personal touch that is lacking in most of todays banking institutions.


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