Compound Interest Calculator
CD 3-year Account from Spring Bank with 4.20% APY and $100,000 minimum deposit

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The product CD 3-year Account from Spring Bank with 4.20% 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 $30,179. The interest earned would be $10,179 and the tax amount on the interest earned would be approximately $3,054.

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 Spring Bank

Savings Boost of
$6,038 over 10 years

Cash Savings $20,000

Average Interest Earned $1,088

Spring Bank Interest Earned $7,125

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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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,302	152	107
4	20,454	154	108
5	20,608	155	108
6	20,762	156	109
7	20,918	157	110
8	21,075	158	111
9	21,234	159	112
10	21,393	161	112
	TOTAL:	$1,554	$1,088

Spring Bank Scenario

	Rate: 4.20%	Annual Interest	Annual Interest (After Tax)
1	20,000	840	588
2	20,840	875	613
3	21,715	912	638
4	22,627	950	665
5	23,578	990	693
6	24,568	1,032	722
7	25,600	1,075	753
8	26,675	1,120	784
9	27,795	1,167	817
10	28,963	1,216	852
	TOTAL:	$10,179	$7,125

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
August 20, 2023	4.20%

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Compound Interest Calculator CD 3-year Account from Spring Bank with 4.20% APY and $100,000 minimum deposit