Compound Interest Calculator
Savings Account from Customers Bank with 4.48% APY and $25 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Customers Bank with 4.48% APY and $25 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 $31,000. The interest earned would be $11,000 and the tax amount on the interest earned would be approximately $3,300.

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
$7,380 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
Customers Bank Interest Earned $7,700

 

 

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

Customers Bank Scenario

Rate:
4.48%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 896 627
2 20,896 936 655
3 21,832 978 685
4 22,810 1,022 715
5 23,832 1,068 747
6 24,900 1,116 781
7 26,015 1,165 816
8 27,181 1,218 852
9 28,398 1,272 891
10 29,671 1,329 930
TOTAL: $11,000 $7,700

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
November 18, 2024 4.48%
September 20, 2024 4.73%
September 6, 2024 5.24%
February 6, 2024 5.14%
August 20, 2023 4.05%


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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