Compound Interest Calculator
CD 3-year Account from SSB Bank with 1.76% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 3-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
$1,582 over 10 years
Cash Savings $20,000
Average Interest Earned $1,086

 
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:
0.75%
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

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 1.81%


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