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
$8,893 over 10 years
Cash Savings $20,000
Average Interest Earned $795

 
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 20,000 111 78
2 20,111 111 78
3 20,222 112 78
4 20,334 113 79
5 20,447 113 79
6 20,560 114 80
7 20,674 115 80
8 20,789 115 81
9 20,904 116 81
10 21,020 116 82
TOTAL: $1,136 $795

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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