Compound Interest Calculator
CD 1-year Account from Dearborn Federal Savings Bank with 0.90% APY and $100,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Dearborn Federal Savings Bank with 0.90% APY and $100,000 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 $21,875. The interest earned would be $1,875 and the tax amount on the interest earned would be approximately $562.

Please note that this product is available in Michigan and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Dearborn Federal Savings Bank

Savings Boost of
$519 over 10 years
Cash Savings $20,000
Average Interest Earned $794

 
Dearborn Federal Savings Bank Interest Earned $1,312

 

 

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 20,000 111 77
2 20,111 111 78
3 20,222 112 78
4 20,334 112 79
5 20,446 113 79
6 20,559 114 80
7 20,673 114 80
8 20,787 115 80
9 20,902 116 81
10 21,018 116 81
TOTAL: $1,134 $794

Dearborn Federal Savings Bank Scenario

Rate:
0.90%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 180 126
2 20,180 182 127
3 20,362 183 128
4 20,545 185 129
5 20,730 187 131
6 20,916 188 132
7 21,105 190 133
8 21,295 192 134
9 21,486 193 135
10 21,680 195 137
TOTAL: $1,875 $1,312

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.



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Customer Reviews for Dearborn Federal Savings Bank


  • February 1, 2023 |

    CDs 12 Month Rates

    Absolutely most horrible experience in my life I opened a large CD when I was living in Dearborn and let the interest accrue for about 6 years I knew how much the interest rate was and how much was in the account I made an appointment and went in and sat with the manager who was new she was very arrogant and did not want to give me any of my money back and basically said to me if you want any of your money back or willing to give you the initial amount you invested and that is all and that is actually what I walked away with after having it entrusted with their financial institution for 6 years


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