Compound Interest Calculator
CD 2-year Account from SSB Bank with 1.76% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from SSB Bank with 1.76% APY and $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 $23,812. The interest earned would be $3,812 and the tax amount on the interest earned would be approximately $1,144.

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 SSB Bank

Savings Boost of
$1,721 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
SSB Bank Interest Earned $2,669

 

 

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:
0.66%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 131 92
2 20,131 132 93
3 20,264 133 93
4 20,397 134 94
5 20,531 135 94
6 20,666 136 95
7 20,801 137 96
8 20,938 138 96
9 21,076 138 97
10 21,214 139 98
TOTAL: $1,354 $947

SSB Bank Scenario

Rate:
1.76%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 352 246
2 20,352 358 251
3 20,710 364 255
4 21,075 371 260
5 21,446 377 264
6 21,823 384 269
7 22,207 391 274
8 22,598 398 278
9 22,996 405 283
10 23,400 412 288
TOTAL: $3,812 $2,669

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
December 5, 2023 1.76%
August 19, 2023 3.89%


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