Compound Interest Calculator
CD 1-year Account from GTE with 4.07% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from GTE with 4.07% 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 $29,805. The interest earned would be $9,805 and the tax amount on the interest earned would be approximately $2,941.

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 GTE

Savings Boost of
$6,071 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
GTE Interest Earned $6,863

 

 

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:
0.55%
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

GTE Scenario

Rate:
4.07%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 814 570
2 20,814 847 593
3 21,661 882 617
4 22,543 917 642
5 23,460 955 668
6 24,415 994 696
7 25,409 1,034 724
8 26,443 1,076 753
9 27,519 1,120 784
10 28,639 1,166 816
TOTAL: $9,805 $6,863

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 4.07%
November 7, 2023 5.12%
August 20, 2023 2.02%


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Customer Reviews for Gte


  • August 15, 2019 |

    Online CDs 60 Month Rates

    I applied for a jumbo CD account over two weeks ago. They asked me for more documentation than my mortgage company did and then they did a hard credit pull. They advertise fast and simple they are simply not. I’ve provided everything (my drivers license, social security card, complete bank statement, picture of my debit card and a copy of my utility bill) and the account still isn't open. Absolute worst customer service ever.


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