Compound Interest Calculator
CD 7-month Account from Fremont Bank with 2.80% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 7-month Account from Fremont Bank with 2.80% APY and $2,500 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 $26,361. The interest earned would be $6,361 and the tax amount on the interest earned would be approximately $1,908.

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 Fremont Bank

Savings Boost of
$4,134 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Fremont Bank Interest Earned $4,453

 

 

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 20,090 45 32
4 20,135 45 32
5 20,181 45 32
6 20,226 46 32
7 20,272 46 32
8 20,317 46 32
9 20,363 46 32
10 20,409 46 32
TOTAL: $455 $318

Fremont Bank Scenario

Rate:
2.80%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 560 392
2 20,560 576 403
3 21,136 592 414
4 21,727 608 426
5 22,336 625 438
6 22,961 643 450
7 23,604 661 463
8 24,265 679 476
9 24,945 698 489
10 25,643 718 503
TOTAL: $6,361 $4,453

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 2.80%
September 22, 2024 2.95%
August 7, 2024 3.95%
April 10, 2024 4.25%
January 30, 2024 4.50%
January 30, 2024 1.00%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.09% on December 7.
6 Month Jumbo CD.

Last change: ↑0.25% on November 25.

Last change: ↑0.70% on December 7.

Last change: ↓0.05% on December 4.