Compound Interest Calculator
CD 3-year Account from Customers Bank with 4.10% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Customers Bank with 4.10% 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 $29,891. The interest earned would be $9,891 and the tax amount on the interest earned would be approximately $2,967.

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 Customers Bank

Savings Boost of
$5,837 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
Customers Bank Interest Earned $6,924

 

 

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:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

Customers Bank Scenario

Rate:
4.10%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 820 574
2 20,820 854 598
3 21,674 889 622
4 22,562 925 648
5 23,487 963 674
6 24,450 1,002 702
7 25,453 1,044 730
8 26,496 1,086 760
9 27,583 1,131 792
10 28,714 1,177 824
TOTAL: $9,891 $6,924

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 22, 2024 4.10%
October 9, 2023 4.00%


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: ↓0.05% on September 27.

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



Customer Reviews for Customers Bank


  • March 25, 2020

    I was told on the phone by a bank rep that my present money market acct interest rate would continue at 2.25% until June 30, 2020 and would be FDIC covered up to $250,000. Please verify if this is true???
    UNDER MARKET RATES LISTED SEE BELOW Deposit Rates - March 25, 2020
    Your Current Location: Georgia, GA 30009
    Savings and Money Market Rates
    APY 0.25%
    MAXIMUM $50,000
    I DO NOT UNDERSTAND WHAT IS GOING ON HERE??
    SEE LINK https://www.bestcashcow.com/banks/customers-bank-34444

    -






  • January 23, 2020

    Yesterday I signed up for the 2.25 MM account that took 10 minute to do online. Then I created a transfer connection to fund it which was completed less than 24 hours later. I didn't need to speak to anyone and it all went flawlessly. Now this I could get used to!!!

  • December 9, 2018

    CDs 24 Month Rates

    I purchased a 15 month CD in Dec. 2017 which should have matured in Jan.2018. The teller screwed up and gave Jan 2019 as the maturity date. Now they sent me a notice my account was inactive. It was a total screw up on their part.


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