Compound Interest Calculator
CD 18-month Account from SUPERIOR CHOICE with 2.50% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 18-month Account from SUPERIOR CHOICE with 2.50% 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 $25,602. The interest earned would be $5,602 and the tax amount on the interest earned would be approximately $1,681.

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
$3,602 over 10 years
Cash Savings $20,000
Average Interest Earned $320

 
SUPERIOR CHOICE Interest Earned $3,921

 

 

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 20,091 45 32
4 20,136 46 32
5 20,181 46 32
6 20,227 46 32
7 20,273 46 32
8 20,319 46 32
9 20,364 46 32
10 20,410 46 32
TOTAL: $457 $320

SUPERIOR CHOICE Scenario

Rate:
2.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 500 350
2 20,500 513 359
3 21,013 525 368
4 21,538 538 377
5 22,076 552 386
6 22,628 566 396
7 23,194 580 406
8 23,774 594 416
9 24,368 609 426
10 24,977 624 437
TOTAL: $5,602 $3,921

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 16, 2024 2.50%
March 4, 2024 2.53%
December 5, 2023 3.09%
October 20, 2023 2.53%
September 1, 2023 3.09%
August 20, 2023 2.53%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.25% on October 28.
6 Month Jumbo CD.

Last change: ↓0.09% on October 17.
3 Month CD.

Last change: ↓0.15% on September 6.

Last change: ↑0.20% on October 28.
Early Withdrawal Penalty is 3 months interest.

Last change: ↓0.25% on October 16.



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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