Compound Interest Calculator
CD 6-month Account from R Bank with 0.62% APY and $10,000 minimum deposit

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R Bank Rate (%):

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The product CD 6-month Account from R Bank with 0.62% APY and $10,000 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 $21,275. The interest earned would be $1,275 and the tax amount on the interest earned would be approximately $383.

Please note that this product is available in Texas and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for R Bank

Savings Boost of
$574 over 10 years

Cash Savings $20,000

Average Interest Earned $318

R Bank Interest Earned $893

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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

R Bank Scenario

	Rate: 0.62%	Annual Interest	Annual Interest (After Tax)
1	20,000	124	87
2	20,124	125	87
3	20,249	126	88
4	20,374	126	88
5	20,501	127	89
6	20,628	128	90
7	20,756	129	90
8	20,884	129	91
9	21,014	130	91
10	21,144	131	92
	TOTAL:	$1,275	$893

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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Compound Interest Calculator CD 6-month Account from R Bank with 0.62% APY and $10,000 minimum deposit