Compound Interest Calculator
CD 1-year Account from QUORUM with 2.60% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from QUORUM with 2.60% 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 $25,853. The interest earned would be $5,853 and the tax amount on the interest earned would be approximately $1,756.

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 QUORUM

Savings Boost of
$3,305 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
QUORUM Interest Earned $4,097

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 112 78
4 20,333 112 79
5 20,445 113 79
6 20,558 113 79
7 20,672 114 80
8 20,786 115 80
9 20,900 115 81
10 21,016 116 81
TOTAL: $1,132 $792

QUORUM Scenario

Rate:
2.60%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 520 364
2 20,520 534 373
3 21,054 547 383
4 21,601 562 393
5 22,163 576 403
6 22,739 591 414
7 23,330 607 425
8 23,937 622 436
9 24,559 639 447
10 25,197 655 459
TOTAL: $5,853 $4,097

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
October 20, 2023 12.00%
August 20, 2023 5.00%


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Customer Reviews for Quorum


  • September 20, 2023 |

    Have been a member for 15 years and love everything about them: have a HighQ account, and QClassic checking and had a mortgage with them, too.

  • August 19, 2018 |

    Opened a high yield savings account that I regretted the moment I tried to make a withdrawal. Received a message to contact them. While I attempted to call on four separate occasions I could not speak to a human due to long wait times. When I finally got to speak to a person they asked me "what do I plan on doing with my money?" Really? This is none of their business! The whole process made me lose days of interest at a higher yield. Do not use this company.


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