Compound Interest Calculator
CD 6-month Account from First National Bank of America with 4.71% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 6-month Account from First National Bank of America with 4.71% APY and $1,000 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 $31,689. The interest earned would be $11,689 and the tax amount on the interest earned would be approximately $3,507.

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 First National Bank of America

Savings Boost of
$7,863 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
First National Bank of America Interest Earned $8,182

 

 

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

First National Bank of America Scenario

Rate:
4.71%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 942 659
2 20,942 986 690
3 21,928 1,033 723
4 22,961 1,081 757
5 24,043 1,132 793
6 25,175 1,186 830
7 26,361 1,242 869
8 27,602 1,300 910
9 28,902 1,361 953
10 30,264 1,425 998
TOTAL: $11,689 $8,182

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
September 13, 2024 4.71%
August 16, 2024 4.86%
August 20, 2023 3.05%


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Customer Reviews for First National Bank of America


  • October 16, 2020

    HAVE BEEN CALLING YOUR
    MORTGAGE DEPARTMENT ON "ITIN" LOANS AND HAVE NOT GOT A HUMAN PERSON TO ANSWER OR
    RETURN MY PHONE CALLS.
    WHAT IS HAPPEN?
    PLEASE ADVISE.
    THANK YOU,


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