Compound Interest Calculator
CD 5-year Account from Southside Bank with 2.42% APY and $100,000 minimum deposit

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The product CD 5-year Account from Southside Bank with 2.42% APY and $100,000 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 $25,403. The interest earned would be $5,403 and the tax amount on the interest earned would be approximately $1,621.

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

The Results for Southside Bank

Savings Boost of
$2,445 over 10 years

Cash Savings $20,000

Average Interest Earned $1,337

Southside Bank Interest Earned $3,782

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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: 0.92%	Annual Interest	Annual Interest (After Tax)
1	20,000	183	128
2	20,183	185	129
3	20,368	187	131
4	20,555	188	132
5	20,743	190	133
6	20,933	192	134
7	21,125	194	135
8	21,318	195	137
9	21,513	197	138
10	21,711	199	139
	TOTAL:	$1,909	$1,337

Southside Bank Scenario

	Rate: 2.42%	Annual Interest	Annual Interest (After Tax)
1	20,000	484	339
2	20,484	496	347
3	20,980	508	355
4	21,487	520	364
5	22,007	533	373
6	22,540	545	382
7	23,085	559	391
8	23,644	572	401
9	24,216	586	410
10	24,802	600	420
	TOTAL:	$5,403	$3,782

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.

Recent Rate Changes

Date	APY
February 1, 2024	2.42%
February 1, 2024	1.00%

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Compound Interest Calculator CD 5-year Account from Southside Bank with 2.42% APY and $100,000 minimum deposit