Compound Interest Calculator
CD 3-year Account from Texas Bank with 3.51% APY and $500 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Texas Bank Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 3-year Account from Texas Bank with 3.51% 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 $28,239. The interest earned would be $8,239 and the tax amount on the interest earned would be approximately $2,472.

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 Texas Bank

Savings Boost of
$4,681 over 10 years

Cash Savings $20,000

Average Interest Earned $1,086

Texas Bank Interest Earned $5,767

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: 0.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	150	105
2	20,150	151	106
3	20,301	152	107
4	20,453	153	107
5	20,607	155	108
6	20,761	156	109
7	20,917	157	110
8	21,074	158	111
9	21,232	159	111
10	21,391	160	112
	TOTAL:	$1,552	$1,086

Texas Bank Scenario

	Rate: 3.51%	Annual Interest	Annual Interest (After Tax)
1	20,000	702	491
2	20,702	727	509
3	21,429	752	527
4	22,181	779	545
5	22,959	806	564
6	23,765	834	584
7	24,599	863	604
8	25,463	894	626
9	26,357	925	648
10	27,282	958	670
	TOTAL:	$8,239	$5,767

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
November 11, 2024	3.51%
September 22, 2024	3.71%
January 26, 2024	4.07%

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.
OneLocal Bank	4.90%	$10,000	Learn More
Last change: ↓0.15% on September 6.
My e-Banc, a division of Bradesco BAC Florida Bank	4.80%	$50,000	Learn More
Last change: ↑0.20% on October 28. Early Withdrawal Penalty is 3 months interest.
Bread Savings, a division of Bread Financial	4.75%	$1,500	Learn More
Last change: ↓0.25% on October 16.

Compound Interest Calculator CD 3-year Account from Texas Bank with 3.51% APY and $500 minimum deposit