Compound Interest Calculator
CD 30-month Account from Security Federal Bank with 0.30% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 30-month Account from Security Federal Bank with 0.30% 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 $20,608. The interest earned would be $608 and the tax amount on the interest earned would be approximately $182.

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

The Results for Security Federal Bank

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

 
Security Federal 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

Security Federal 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 Security Federal Bank


  • August 8, 2022

    DO NOT USE THIS BANK!!!! My brother passed and unfortunately he had a savings account with these thieves. I properly went through probate court and got an Order for the bank to release the funds to me and my father. The bank would not accept the probate court Order and I had to go back to the court to force them to release the money. I got my half but they were supposed to call my father who is out of state and send him a form. Of course they did not call and who knows where the form is...

  • May 3, 2020

    Do NOT use this bank if you are seeking business banking. They randomly call notes for no reason and make lending decisions based on “good ol’ boy” discrimination. All that this institution is after is your deposits and they are not a lending bank at all. Their employees are compensated terribly and are not treated any differently in their branches and offices.


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