Compound Interest Calculator
CD 6-month Account from State Savings Bank with 1.91% APY and $2,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

State Savings Bank Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 6-month Account from State Savings Bank with 1.91% APY and $2,000 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 $24,166. The interest earned would be $4,166 and the tax amount on the interest earned would be approximately $1,250.

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 Savings Bank

Savings Boost of
$2,598 over 10 years

Cash Savings $20,000

Average Interest Earned $318

State Savings Bank Interest Earned $2,916

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: 0.23%	Annual Interest	Annual Interest (After Tax)
1	20,000	45	32
2	20,045	45	32
3	20,090	45	32
4	20,135	45	32
5	20,181	45	32
6	20,226	46	32
7	20,272	46	32
8	20,317	46	32
9	20,363	46	32
10	20,409	46	32
	TOTAL:	$455	$318

State Savings Bank Scenario

	Rate: 1.91%	Annual Interest	Annual Interest (After Tax)
1	20,000	382	267
2	20,382	389	273
3	20,771	397	278
4	21,168	404	283
5	21,572	412	288
6	21,984	420	294
7	22,404	428	300
8	22,832	436	305
9	23,268	444	311
10	23,713	453	317
	TOTAL:	$4,166	$2,916

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 19, 2023	1.91%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
My e-Banc, a division of Bradesco BAC Florida Bank	5.00%	$50,000	Learn More
Last change: ↑0.25% on October 28. 6 Month Jumbo CD.
TotalDirect, a division of City National Bank of Florida	4.91%	$25,000	Learn More
Last change: ↓0.09% on October 17. 3 Month CD.
Norwood Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
Prime Alliance Bank	4.90%	$500	Learn More
Last change: ↓0.05% on September 27.
Bank5 Connect	4.85%	$500	Learn More
Last change: ↓0.10% on October 28. 6 Month CD.

Compound Interest Calculator CD 6-month Account from State Savings Bank with 1.91% APY and $2,000 minimum deposit