Compound Interest Calculator
Money Market Account from Parke Bank with 0.30% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Parke Bank with 0.30% APY and $2,500 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 $20,608. The interest earned would be $608 and the tax amount on the interest earned would be approximately $182.

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
$108 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Parke Bank Interest Earned $426

 

 

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 20,090 45 32
4 20,135 45 32
5 20,181 45 32
6 20,226 46 32
7 20,272 46 32
8 20,317 46 32
9 20,363 46 32
10 20,409 46 32
TOTAL: $455 $318

Parke Bank Scenario

Rate:
0.30%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 60 42
2 20,060 60 42
3 20,120 60 42
4 20,181 61 42
5 20,241 61 43
6 20,302 61 43
7 20,363 61 43
8 20,424 61 43
9 20,485 61 43
10 20,547 62 43
TOTAL: $608 $426

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 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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