Compound Interest Calculator
Money Market Account from GSL Savings Bank with 4.29% APY and $1,500 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from GSL Savings Bank with 4.29% APY and $1,500 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 $30,441. The interest earned would be $10,441 and the tax amount on the interest earned would be approximately $3,132.

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 GSL Savings Bank

Savings Boost of
$6,990 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
GSL Savings Bank Interest Earned $7,309

 

 

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

GSL Savings Bank Scenario

Rate:
4.29%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 858 601
2 20,858 895 626
3 21,753 933 653
4 22,686 973 681
5 23,659 1,015 710
6 24,674 1,059 741
7 25,733 1,104 773
8 26,837 1,151 806
9 27,988 1,201 840
10 29,189 1,252 877
TOTAL: $10,441 $7,309

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
August 2, 2024 4.29%
February 23, 2024 4.86%
January 19, 2024 5.20%
August 19, 2023 0.25%


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Customer Reviews for GSL Savings Bank


  • April 29, 2020

    CDs 12 Month Rates

    I called this banl there is no this rate


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