Compound Interest Calculator
CD 1-year Account from NexBank with 5.40% APY and $25,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from NexBank with 5.40% APY and $25,000 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 $33,840. The interest earned would be $13,840 and the tax amount on the interest earned would be approximately $4,152.

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 NexBank

Savings Boost of
$8,896 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
NexBank Interest Earned $9,688

 

 

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

NexBank Scenario

Rate:
5.40%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,080 756
2 21,080 1,138 797
3 22,218 1,200 840
4 23,418 1,265 885
5 24,683 1,333 933
6 26,016 1,405 983
7 27,420 1,481 1,036
8 28,901 1,561 1,092
9 30,462 1,645 1,151
10 32,107 1,734 1,214
TOTAL: $13,840 $9,688

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
April 2, 2024 5.40%
January 23, 2024 5.50%
January 9, 2024 5.55%
October 13, 2023 5.65%
August 20, 2023 5.35%


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Customer Reviews for NexBank


  • August 20, 2019 |

    Very corrupt, disorganized company. Associated with Dovenmuehle and or the same company. Extremely poor ratings all over the internet. Should be sued and closed down.
    If I could give it -10 stars, that would be too good.

  • August 17, 2016

    Hello,

    I am the CEO of a small credit union here in Dallas, and we are currently looking for another financial institution to deposit a CD into. We are not receiving much of a benefit from our current institution, and would like to know the criteria to becoming a member and depositing into your fine establishment. If you have a chance, please have a representative to contact me at 214.375.4271 or email me at goodstreetfcu@sbcglobal.net.


    Thank you for your time, and we look forward to speaking with you.


    Jamaal D. Robinson
    Interim CEO
    Good Street FCU


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