Compound Interest Calculator
CD 1-year Account from Cross River Bank with 3.70% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Cross River Bank with 3.70% 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 $28,762. The interest earned would be $8,762 and the tax amount on the interest earned would be approximately $2,629.

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 Cross River Bank

Savings Boost of
$5,341 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
Cross River Bank Interest Earned $6,133

 

 

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

Cross River Bank Scenario

Rate:
3.70%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 740 518
2 20,740 767 537
3 21,507 796 557
4 22,303 825 578
5 23,128 856 599
6 23,984 887 621
7 24,872 920 644
8 25,792 954 668
9 26,746 990 693
10 27,736 1,026 718
TOTAL: $8,762 $6,133

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
October 9, 2024 3.70%
December 10, 2023 5.40%
August 20, 2023 2.00%


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 Cross River Bank


  • June 26, 2022 |

    ACH transfers are not allowed. Called and was told that I had to set up wire transfers (and pay fees) or I could come in to the bank and get a bank check.

  • January 15, 2022 |

    Online Savings Rates

    I've done some work with these guys.
    This is a New Jersey-based bitcoin ponzi scheme run by a bunch of 30-something Wall Street throw aways. If you must chase 51 bps, I suggest you do it somewhere else.

  • November 19, 2021 |

    Online Savings Rates

    Just terrible and should not be listed here.

  • September 19, 2021 |

    Online Savings Rates

    No problems at first and then I needed to reach customer service with an easy question about ACH transfers and they could not answer it. I will go back to making a little less at a more established name.

  • July 7, 2021 |

    Online Savings Rates

    This is s a crap organization run by kids that abused PPP, and are now about to boil themselves on crypto. You should not give them your money at 51 basis points!


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