Compound Interest Calculator
CD 3-year Account from TEXAS PEOPLE with 3.59% APY and $1,000 minimum deposit

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

TEXAS PEOPLE Rate (%):

Compound Interest Period:

Tax Rate:

Please leave this field blank

The product CD 3-year Account from TEXAS PEOPLE with 3.59% APY and $1,000 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 $28,458. The interest earned would be $8,458 and the tax amount on the interest earned would be approximately $2,537.

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 PEOPLE

Savings Boost of
$4,835 over 10 years

Cash Savings $20,000

Average Interest Earned $1,086

TEXAS PEOPLE Interest Earned $5,921

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 PEOPLE Scenario

	Rate: 3.59%	Annual Interest	Annual Interest (After Tax)
1	20,000	718	503
2	20,718	744	521
3	21,462	770	539
4	22,232	798	559
5	23,030	827	579
6	23,857	856	600
7	24,714	887	621
8	25,601	919	643
9	26,520	952	666
10	27,472	986	690
	TOTAL:	$8,458	$5,921

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
December 12, 2023	3.59%

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 PEOPLE with 3.59% APY and $1,000 minimum deposit