Compound Interest Calculator
CD 5-year Account from Oxford Bank with 0.55% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Oxford Bank with 0.55% 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 $21,128. The interest earned would be $1,128 and the tax amount on the interest earned would be approximately $338.

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

The Results for Oxford Bank

Savings Boost of
$-546 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Oxford Bank Interest Earned $789

 

 

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:
0.92%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 183 128
2 20,183 185 129
3 20,368 186 130
4 20,554 188 132
5 20,742 190 133
6 20,932 192 134
7 21,123 193 135
8 21,317 195 137
9 21,512 197 138
10 21,709 199 139
TOTAL: $1,907 $1,335

Oxford Bank Scenario

Rate:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 77
3 20,221 111 78
4 20,332 112 78
5 20,444 112 79
6 20,556 113 79
7 20,669 114 80
8 20,783 114 80
9 20,897 115 80
10 21,012 116 81
TOTAL: $1,128 $789

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.



Featured CD Rates

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Customer Reviews for Oxford Bank


  • July 3, 2023

    My niece and I have been customers of the Addison Oaks branch of Oxford Bank for 20 years. My niece is on my accounts and has a separate account of her own. We have performed the same transactions for 20 years.
    Today a new manager to me, Dot Arnold, refused to complete my transaction. I endorsed a money order made out to me and made it payable to my niece on the back. I then wrote "For Deposit Only" under making the money order payable to my niece. I wanted to deposit it into her account. I have done this numerous times over the years, but today the manager, Dot Arnold said that it could not be done. She said banking laws had changed and that this was illegal. Nowhere can I find that this illegal. If a 20 year business relationship with a bank and a respectable constant bank balance are not appreciated by a financial institution, maybe I should be banking somewhere else.
    Take this into consideration when you begin a financial relationship with a bank












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