Compound Interest Calculator
CD 18-month Account from Rio Bank with 0.67% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 18-month Account from Rio Bank with 0.67% 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 $21,381. The interest earned would be $1,381 and the tax amount on the interest earned would be approximately $414.

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 Rio Bank

Savings Boost of
$649 over 10 years
Cash Savings $20,000
Average Interest Earned $318

 
Rio Bank Interest Earned $967

 

 

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

Rio Bank Scenario

Rate:
0.67%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 134 94
2 20,134 135 94
3 20,269 136 95
4 20,405 137 96
5 20,541 138 96
6 20,679 139 97
7 20,818 139 98
8 20,957 140 98
9 21,097 141 99
10 21,239 142 100
TOTAL: $1,381 $967

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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