Compound Interest Calculator
Savings Account from NexBank with 1.50% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from NexBank with 1.50% 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 $23,211. The interest earned would be $3,211 and the tax amount on the interest earned would be approximately $963.

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
$1,928 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
NexBank Interest Earned $2,248

 

 

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 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

NexBank Scenario

Rate:
1.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 300 210
2 20,300 305 213
3 20,605 309 216
4 20,914 314 220
5 21,227 318 223
6 21,546 323 226
7 21,869 328 230
8 22,197 333 233
9 22,530 338 237
10 22,868 343 240
TOTAL: $3,211 $2,248

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 1.50%


Featured CD Rates

ONLINE BANKS APY? MIN?

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

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

Last change: ↓0.15% on September 6.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.

Last change: ↓0.25% on October 16.



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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