Compound Interest Calculator
CD 2-year Account from Primary Bank with 2.75% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from Primary Bank with 2.75% APY and $1,000 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 $26,233. The interest earned would be $6,233 and the tax amount on the interest earned would be approximately $1,870.

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 Primary Bank

Savings Boost of
$3,416 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
Primary Bank Interest Earned $4,363

 

 

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

Primary Bank Scenario

Rate:
2.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 550 385
2 20,550 565 396
3 21,115 581 406
4 21,696 597 418
5 22,292 613 429
6 22,905 630 441
7 23,535 647 453
8 24,183 665 466
9 24,848 683 478
10 25,531 702 491
TOTAL: $6,233 $4,363

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
August 20, 2023 2.75%


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: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.



Customer Reviews for Primary Bank


  • March 30, 2021 |

    CDs 12 Month Rates

    These guys are the best local bank. Very responsive.

  • February 8, 2021 |

    Rejected, and I live in MA and have perfect credit. No time for small irrelevant New Hampshire banks.

  • January 20, 2021 |

    Was rejected for acct from NYC.

  • December 5, 2020 |

    Very happy with Primary Bank and Derry Branch Staff all customer relations make you feel that your business is important to the bank Lauren Branch Manager and Elizabeth have been there to assist us and making our banking experience with Primary a great Local banking relationship .

  • December 4, 2020 |

    Online CDs 12 Month Rates

    Unless you live in New England, it's a "no-go" and they don't show that on their website. They should not be on a list of national banks.


Add Your Review


or use your BestCashCow account

or