Compound Interest Calculator
CD 3-year Account from Independent Bank with 3.76% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Independent Bank with 3.76% 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 $28,929. The interest earned would be $8,929 and the tax amount on the interest earned would be approximately $2,679.

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 Independent Bank

Savings Boost of
$5,162 over 10 years
Cash Savings $20,000
Average Interest Earned $1,088

 
Independent Bank Interest Earned $6,250

 

 

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:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,302 152 107
4 20,454 154 108
5 20,608 155 108
6 20,762 156 109
7 20,918 157 110
8 21,075 158 111
9 21,234 159 112
10 21,393 161 112
TOTAL: $1,554 $1,088

Independent Bank Scenario

Rate:
3.76%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 752 526
2 20,752 780 546
3 21,532 810 567
4 22,342 840 588
5 23,182 872 610
6 24,054 904 633
7 24,958 938 657
8 25,896 974 682
9 26,870 1,010 707
10 27,880 1,048 734
TOTAL: $8,929 $6,250

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
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%


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