Compound Interest Calculator
CD 1-year Account from NVE Bank with 0.24% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from NVE Bank with 0.24% 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 $20,485. The interest earned would be $485 and the tax amount on the interest earned would be approximately $146.

Please note that this product is available in New Jersey and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for NVE Bank

Savings Boost of
$-451 over 10 years
Cash Savings $20,000
Average Interest Earned $791

 
NVE Bank Interest Earned $340

 

 

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 20,221 111 78
4 20,332 112 78
5 20,444 113 79
6 20,557 113 79
7 20,670 114 80
8 20,784 115 80
9 20,899 115 81
10 21,014 116 81
TOTAL: $1,130 $791

NVE Bank Scenario

Rate:
0.24%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 48 34
2 20,048 48 34
3 20,096 48 34
4 20,144 48 34
5 20,193 48 34
6 20,241 49 34
7 20,290 49 34
8 20,338 49 34
9 20,387 49 34
10 20,436 49 34
TOTAL: $485 $340

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.



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Customer Reviews for NVE Bank


  • May 10, 2021

    NVE Bank can change the amount of my deposit later days.
    Without my permission they can change and do whatever they like.
    On 4/17/2021 I deposit $ 9000.00.
    Two days later he call me asked me a question " how much did you deposit?"
    I told him $ 9000.00
    Now they took $ 2000.00 away from my account.
    Why?
    I had a check $ 3500 and cash $ 5500.
    The bank printed out slip for me on that day $ 9000
    My deposit check only $ 3,500 , but the bank teller put $ 5,500.
    The cash I counted $ 5,500 ,the bank teller counted, and the bank manager
    counted by hands and machines $ 5,500.00
    Now NVE Bank taking my $ 2,000 from my account.
    My lawyer will contact them.


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