Compound Interest Calculator
STATE DEPARTMENT with 1.51% APY and $50,000 minimum deposit

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The product STATE DEPARTMENT with 1.51% APY and $50,000 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 $23,234. The interest earned would be $3,234 and the tax amount on the interest earned would be approximately $970.

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 STATE DEPARTMENT

Savings Boost of
$1,948 over 10 years

Cash Savings $20,000

Average Interest Earned $315

STATE DEPARTMENT Interest Earned $2,264

Compare

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: 0.22%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	31
2	20,045	45	31
3	20,089	45	31
4	20,134	45	31
5	20,179	45	31
6	20,224	45	32
7	20,269	45	32
8	20,314	45	32
9	20,360	45	32
10	20,405	46	32
	TOTAL:	$451	$315

STATE DEPARTMENT Scenario

	Rate: 1.51%	Annual Interest	Annual Interest (After Tax)
1	20,000	302	211
2	20,302	307	215
3	20,609	311	218
4	20,920	316	221
5	21,236	321	224
6	21,556	326	228
7	21,882	330	231
8	22,212	335	235
9	22,548	340	238
10	22,888	346	242
	TOTAL:	$3,234	$2,264

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.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
TotalDirect, a division of City National Bank of Florida	5.51%	$25,000	Learn More
Last change: ↓0.15% on May 13. 3 Month CD.
Climate First Bank	5.34%	$500	Learn More
My e-Banc, a division of Bradesco BAC Florida Bank	5.30%	$50,000	Learn More
Last change: ↑0.25% on August 7. 6 Month Jumbo CD.
ableBanking, a division of Northeast Bank	5.20%	$500	Learn More
Last change: ↓0.10% on August 16.
LendingClub Bank, National Association	5.20%	$2,500	Learn More
Last change: ↑5.10% on August 12.

Compound Interest Calculator STATE DEPARTMENT with 1.51% APY and $50,000 minimum deposit