Compound Interest Calculator
CD 3-year Account from NexBank with 4.55% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from NexBank with 4.55% APY and $10,000 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 $31,208. The interest earned would be $11,208 and the tax amount on the interest earned would be approximately $3,362.

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
$6,760 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
NexBank Interest Earned $7,846

 

 

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 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

NexBank Scenario

Rate:
4.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 910 637
2 20,910 951 666
3 21,861 995 696
4 22,856 1,040 728
5 23,896 1,087 761
6 24,983 1,137 796
7 26,120 1,188 832
8 27,309 1,243 870
9 28,551 1,299 909
10 29,850 1,358 951
TOTAL: $11,208 $7,846

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
August 20, 2023 4.55%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↑3.00% on August 7.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↓0.05% on September 27.



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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