Compound Interest Calculator
CD 1-year Account from SUPERIOR CHOICE with 5.00% APY and $100,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from SUPERIOR CHOICE with 5.00% APY and $100,000 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 $32,578. The interest earned would be $12,578 and the tax amount on the interest earned would be approximately $3,773.

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 SUPERIOR CHOICE

Savings Boost of
$8,012 over 10 years
Cash Savings $20,000
Average Interest Earned $792

 
SUPERIOR CHOICE Interest Earned $8,805

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 112 78
4 20,333 112 79
5 20,445 113 79
6 20,558 113 79
7 20,672 114 80
8 20,786 115 80
9 20,900 115 81
10 21,016 116 81
TOTAL: $1,132 $792

SUPERIOR CHOICE Scenario

Rate:
5.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,000 700
2 21,000 1,050 735
3 22,050 1,103 772
4 23,153 1,158 810
5 24,310 1,216 851
6 25,526 1,276 893
7 26,802 1,340 938
8 28,142 1,407 985
9 29,549 1,477 1,034
10 31,027 1,551 1,086
TOTAL: $12,578 $8,805

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
March 4, 2024 5.00%
December 5, 2023 2.63%
October 20, 2023 5.30%
September 1, 2023 2.63%
August 20, 2023 2.22%


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Customer Reviews for Superior Choice


  • December 7, 2023 |

    100% a Rogue Bank.

    Wish I could give them a negative star.

    Banks like superior choice CU are the example why Americans are behind on building better credit portfolio. They for some strange reasons are ignorant enough to harm their potential customers credit history for zero gain for themselves.

    Here is my experience- i live in California found a high yield savings account that I was interested. Called their customer service for eligibility and was told getting ACC membership would let me become their customer which i purchased right away.

    Filled an online form for bringing in 25k into the savings account I applied for. They got all my details including ssn like they take when you apply for a credit card.
    They sent me an email and asked me ACC membership document, address proof document, driving license copy which I uploaded and sent them right away. And then sent me an email to come to their bank in Minnesota in person because they cannot approve me "virtually". These incompetents actually ran a hard inquiry while they always intended to decline me since I wasn't nearby their actual bank locations. Why can't they just specify that in eligibility criteria?

    I would advice to stay far away from Superior choice credit Union.


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