Compound Interest Calculator
CD 5-year Account from Parke Bank with 1.25% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 5-year Account from Parke Bank with 1.25% APY and $500 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 $22,645. The interest earned would be $2,645 and the tax amount on the interest earned would be approximately $794.

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 Parke Bank

Savings Boost of
$517 over 10 years
Cash Savings $20,000
Average Interest Earned $1,335

 
Parke Bank Interest Earned $1,852

 

 

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

Parke Bank Scenario

Rate:
1.25%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 250 175
2 20,250 253 177
3 20,503 256 179
4 20,759 259 182
5 21,019 263 184
6 21,282 266 186
7 21,548 269 189
8 21,817 273 191
9 22,090 276 193
10 22,366 280 196
TOTAL: $2,645 $1,852

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 Parke Bank


  • November 9, 2020

    Online CDs 12 Month Rates

    Here's what you will need:
    To be a resident of New Jersey or select Eastern Pennsylvania counties (the zip code provided in your application will receive an error stating "Zip code is not valid for this application" in the event that your zip code is not in an approved area)

  • July 28, 2020

    Extremely unpleasant call to the bank about my loan. I spoke to loan department and the woman- who didn’t give her name - became frustrated and instantly became rude and unprofessional. This bank is stuck in the 90s - super inconvenient!


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