Compound Interest Calculator
Savings Account from SELECT SEVEN with 0.20% APY and $2,500 minimum deposit

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SELECT SEVEN Rate (%):

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The product Savings Account from SELECT SEVEN with 0.20% 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 $20,404. The interest earned would be $404 and the tax amount on the interest earned would be approximately $121.

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

The Results for SELECT SEVEN

Savings Boost of
$-36 over 10 years

Cash Savings $20,000

Average Interest Earned $318

SELECT SEVEN Interest Earned $283

Compare

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

SELECT SEVEN Scenario

	Rate: 0.20%	Annual Interest	Annual Interest (After Tax)
1	20,000	40	28
2	20,040	40	28
3	20,080	40	28
4	20,120	40	28
5	20,160	40	28
6	20,201	40	28
7	20,241	40	28
8	20,282	41	28
9	20,322	41	28
10	20,363	41	29
	TOTAL:	$404	$283

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 Select Seven

Peeved consumer

June 7, 2023 |

They have my money and refuse to give it back, They have violated the law as they refuse to even turn it over to the state as abandoned property if nothing else. They refuse to even respond.

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Compound Interest Calculator Savings Account from SELECT SEVEN with 0.20% APY and $2,500 minimum deposit