Compound Interest Calculator
Money Market Account from First National Bank of Scotia with 2.01% APY and $1,000,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

First National Bank of Scotia Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product Money Market Account from First National Bank of Scotia with 2.01% APY and $1,000,000 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 $24,404. The interest earned would be $4,404 and the tax amount on the interest earned would be approximately $1,321.

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
$2,763 over 10 years

Cash Savings $20,000

Average Interest Earned $320

First National Bank of Scotia Interest Earned $3,083

Compare

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 Scotia Scenario

	Rate: 2.01%	Annual Interest	Annual Interest (After Tax)
1	20,000	402	281
2	20,402	410	287
3	20,812	418	293
4	21,230	427	299
5	21,657	435	305
6	22,092	444	311
7	22,537	453	317
8	22,989	462	323
9	23,452	471	330
10	23,923	481	337
	TOTAL:	$4,404	$3,083

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
February 2, 2024	2.01%
December 10, 2023	1.00%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↓0.09% on December 7. 6 Month Jumbo CD.
Finworth, a division of InsBank	4.75%	$50,000	Learn More
Last change: ↑0.25% on November 25.
Rising Bank, a division of Midwest BankCentre	4.70%	$1,000	Learn More
Last change: ↑0.70% on December 7.

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.

Is this review helpful? Yes:0 / No: 0

Add Your Review

or use your BestCashCow account

Compound Interest Calculator Money Market Account from First National Bank of Scotia with 2.01% APY and $1,000,000 minimum deposit