Compound Interest Calculator
CD 3-year Account from Shinhan Bank America with 0.25% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-year Account from Shinhan Bank America with 0.25% 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 $20,506. The interest earned would be $506 and the tax amount on the interest earned would be approximately $152.

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 Shinhan Bank America

Savings Boost of
$-732 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
Shinhan Bank America Interest Earned $354

 

 

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:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

Shinhan Bank America Scenario

Rate:
0.25%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 50 35
2 20,050 50 35
3 20,100 50 35
4 20,150 50 35
5 20,201 51 35
6 20,251 51 35
7 20,302 51 36
8 20,353 51 36
9 20,404 51 36
10 20,455 51 36
TOTAL: $506 $354

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 Shinhan Bank America


  • March 10, 2021 |

    I think that it is absolutely despicable that I have been a customer of the Bank for more than 8 years and I bring in rolled coins with my account number on each wrapper and I am charged 5% fee. Cost me $30.00. Now I thought there was a shortage of coins. Their reasoning was because they had been receiving so many Canadian coins in wrapped rolls. Really.....Yet you require your customers to write their account numbers on each one and if there's a discrepancy you can debit their account.


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