Compound Interest Calculator
CD 4-year Account from SUFFOLK with 3.20% APY and $500 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

SUFFOLK Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 4-year Account from SUFFOLK with 3.20% 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 $27,405. The interest earned would be $7,405 and the tax amount on the interest earned would be approximately $2,221.

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 SUFFOLK

Savings Boost of
$4,004 over 10 years

Cash Savings $20,000

Average Interest Earned $1,179

SUFFOLK Interest Earned $5,183

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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	162	114
2	20,162	164	115
3	20,326	165	116
4	20,491	166	116
5	20,658	168	117
6	20,825	169	118
7	20,994	170	119
8	21,165	172	120
9	21,337	173	121
10	21,510	175	122
	TOTAL:	$1,685	$1,179

SUFFOLK Scenario

	Rate: 3.20%	Annual Interest	Annual Interest (After Tax)
1	20,000	640	448
2	20,640	660	462
3	21,300	682	477
4	21,982	703	492
5	22,686	726	508
6	23,411	749	524
7	24,161	773	541
8	24,934	798	559
9	25,732	823	576
10	26,555	850	595
	TOTAL:	$7,405	$5,183

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
April 4, 2024	3.20%
October 17, 2023	3.50%

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.
Bask Bank, a division of Texas Capital Bank	4.90%	$1,000	Learn More
Last change: ↓0.10% on October 1.

Compound Interest Calculator CD 4-year Account from SUFFOLK with 3.20% APY and $500 minimum deposit