The product CD 3-year Account from Independent Bank with 3.61% APY and $1,000 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 $28,513. The interest earned would be $8,513 and the tax amount on the interest earned would be approximately $2,554.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
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.
| Rate: 0.75% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 151 | 105 |
| 2 | 20,151 | 152 | 106 |
| 3 | 20,302 | 153 | 107 |
| 4 | 20,455 | 154 | 108 |
| 5 | 20,609 | 155 | 109 |
| 6 | 20,764 | 156 | 109 |
| 7 | 20,921 | 158 | 110 |
| 8 | 21,078 | 159 | 111 |
| 9 | 21,237 | 160 | 112 |
| 10 | 21,397 | 161 | 113 |
| TOTAL: | $1,558 | $1,091 |
| Rate: 3.61% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 722 | 505 |
| 2 | 20,722 | 748 | 524 |
| 3 | 21,470 | 775 | 543 |
| 4 | 22,245 | 803 | 562 |
| 5 | 23,048 | 832 | 582 |
| 6 | 23,880 | 862 | 603 |
| 7 | 24,742 | 893 | 625 |
| 8 | 25,635 | 925 | 648 |
| 9 | 26,561 | 959 | 671 |
| 10 | 27,520 | 993 | 695 |
| TOTAL: | $8,513 | $5,959 |
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.
| Date | APY |
|---|---|
| April 21, 2025 | 3.61% |
| April 14, 2025 | 3.56% |
| April 4, 2025 | 3.66% |
| January 20, 2025 | 3.76% |
| January 13, 2025 | 3.71% |
| December 23, 2024 | 3.76% |
| November 25, 2024 | 3.82% |
| November 11, 2024 | 3.83% |
| November 4, 2024 | 3.77% |
| October 14, 2024 | 3.72% |
| September 30, 2024 | 3.57% |
| September 22, 2024 | 3.72% |
| September 13, 2024 | 3.83% |
| August 7, 2024 | 3.77% |
| July 29, 2024 | 4.09% |
| July 22, 2024 | 4.14% |
| July 15, 2024 | 4.35% |
| July 8, 2024 | 4.40% |
| June 3, 2024 | 4.45% |
| May 27, 2024 | 4.40% |
| May 20, 2024 | 4.35% |
| May 6, 2024 | 4.29% |
| March 11, 2024 | 4.24% |
| March 1, 2024 | 4.29% |
| February 2, 2024 | 3.36% |
| January 26, 2024 | 3.31% |
| January 19, 2024 | 3.26% |
| January 12, 2024 | 3.36% |
| January 5, 2024 | 3.35% |
| December 29, 2023 | 3.40% |
| December 22, 2023 | 3.45% |
| December 13, 2023 | 3.66% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.55% |
$50,000 |
Learn More | |
|
Last change: ↓0.10% on February 9. |
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|
|
4.55% |
$1,000 |
Learn More | |
|
Last change: ↓0.50% on October 1, 2024. |
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|
|
4.50% |
$500 |
Learn More | |
|
Last change: ↑0.20% on January 18. |
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|
|
4.50% |
$1,500 |
Learn More | |
|
Last change: ↓0.15% on January 25. |
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|
|
4.50% |
$50,000 |
Learn More | |
|
Last change: ↑0.20% on April 9. |
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