Compound Interest Calculator
CD 1-year Account from First National Bank of Scotia with 0.69% APY and $500 minimum deposit

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The product CD 1-year Account from First National Bank of Scotia with 0.69% 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 $21,424. The interest earned would be $1,424 and the tax amount on the interest earned would be approximately $427.

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 Scotia

Savings Boost of
$204 over 10 years

Cash Savings $20,000

Average Interest Earned $792

First National Bank of Scotia Interest Earned $997

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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

First National Bank of Scotia Scenario

	Rate: 0.69%	Annual Interest	Annual Interest (After Tax)
1	20,000	138	97
2	20,138	139	97
3	20,277	140	98
4	20,417	141	99
5	20,558	142	99
6	20,700	143	100
7	20,842	144	101
8	20,986	145	101
9	21,131	146	102
10	21,277	147	103
	TOTAL:	$1,424	$997

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 4, 2024	0.69%
September 30, 2024	0.65%
July 1, 2024	0.55%
June 10, 2024	0.50%
December 10, 2023	0.45%

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Customer Reviews for First National Bank of Scotia

Zflash4000

October 1, 2017

Will play games with your account. changing posting dates and times. Will hold direct deposit so you overdraft your account.

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Compound Interest Calculator CD 1-year Account from First National Bank of Scotia with 0.69% APY and $500 minimum deposit