Compound Interest Calculator
CD 2-year Account from PALMETTO CITIZENS with 3.39% APY and $250,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from PALMETTO CITIZENS with 3.39% APY and $250,000 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 $27,914. The interest earned would be $7,914 and the tax amount on the interest earned would be approximately $2,374.

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 PALMETTO CITIZENS

Savings Boost of
$4,592 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
PALMETTO CITIZENS Interest Earned $5,539

 

 

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:
0.66%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 131 92
2 20,131 132 93
3 20,264 133 93
4 20,397 134 94
5 20,531 135 94
6 20,666 136 95
7 20,801 137 96
8 20,938 138 96
9 21,076 138 97
10 21,214 139 98
TOTAL: $1,354 $947

PALMETTO CITIZENS Scenario

Rate:
3.39%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 678 475
2 20,678 701 491
3 21,379 725 507
4 22,104 749 525
5 22,853 775 542
6 23,628 801 561
7 24,429 828 580
8 25,257 856 599
9 26,113 885 620
10 26,998 915 641
TOTAL: $7,914 $5,539

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
November 11, 2024 3.39%
August 7, 2024 3.65%
November 14, 2023 3.91%
August 19, 2023 4.35%


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: ↓0.05% on September 27.

Last change: ↓0.10% on October 1.