Compound Interest Calculator
CD 4-year Account from TEXAS PEOPLE with 3.48% 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 4-year Account from TEXAS PEOPLE with 3.48% 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 $28,158. The interest earned would be $8,158 and the tax amount on the interest earned would be approximately $2,447.

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
$4,529 over 10 years

Cash Savings $20,000

Average Interest Earned $1,181

TEXAS PEOPLE Interest Earned $5,710

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	163	114
2	20,163	164	115
3	20,327	165	116
4	20,492	167	117
5	20,658	168	118
6	20,826	169	119
7	20,996	171	119
8	21,166	172	120
9	21,338	173	121
10	21,512	175	122
	TOTAL:	$1,687	$1,181

TEXAS PEOPLE Scenario

	Rate: 3.48%	Annual Interest	Annual Interest (After Tax)
1	20,000	696	487
2	20,696	720	504
3	21,416	745	522
4	22,162	771	540
5	22,933	798	559
6	23,731	826	578
7	24,557	855	598
8	25,411	884	619
9	26,295	915	641
10	27,211	947	663
	TOTAL:	$8,158	$5,710

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	3.48%

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.
Valley Direct, a division of Valley National Bank	5.00%	$500	Learn More
Last change: ↑3.00% on August 7.
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.

Compound Interest Calculator CD 4-year Account from TEXAS PEOPLE with 3.48% APY and $1,000 minimum deposit