Compound Interest Calculator
Savings Account from Jenius Bank, a division of Sumitomo Mitsui Bank with 4.80% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Jenius Bank, a division of Sumitomo Mitsui Bank with 4.80% APY and $0 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 $31,963. The interest earned would be $11,963 and the tax amount on the interest earned would be approximately $3,589.

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 Jenius Bank, a division of Sumitomo Mitsui Bank

Savings Boost of
$8,056 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Jenius Bank, a division of Sumitomo Mitsui Bank Interest Earned $8,374

 

 

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

Jenius Bank, a division of Sumitomo Mitsui Bank Scenario

Rate:
4.80%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 960 672
2 20,960 1,006 704
3 21,966 1,054 738
4 23,020 1,105 773
5 24,125 1,158 811
6 25,283 1,214 850
7 26,497 1,272 890
8 27,769 1,333 933
9 29,102 1,397 978
10 30,499 1,464 1,025
TOTAL: $11,963 $8,374

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
October 17, 2024 4.80%
September 18, 2024 5.05%
February 13, 2024 5.25%
December 27, 2023 5.10%


Featured CD Rates

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Customer Reviews for Jenius Bank, a division of Sumitomo Mitsui Bank


  • July 26, 2024 |

    Online Savings Rates

    Multiple roadblocks trying to set up a savings account with Jenius Bank and my application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and credits scores that have never been outside the 800s. I took my business elsewhere.

  • March 2, 2024 |

    Online Savings Rates

    Attracted to the rate, but not ready for prime time. I opened the account so they got all my personal info but I never funded.


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