Compound Interest Calculator
CD 2-year Account from The Bank of Princeton with 0.35% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 2-year Account from The Bank of Princeton with 0.35% 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 $20,711. The interest earned would be $711 and the tax amount on the interest earned would be approximately $213.

Please note that this product is available in New Jersey and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for The Bank of Princeton

Savings Boost of
$-450 over 10 years
Cash Savings $20,000
Average Interest Earned $947

 
The Bank of Princeton Interest Earned $498

 

 

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:
0.66%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 131 92
2 20,131 132 93
3 20,264 133 93
4 20,397 134 94
5 20,531 135 94
6 20,666 136 95
7 20,801 137 96
8 20,938 138 96
9 21,076 138 97
10 21,214 139 98
TOTAL: $1,354 $947

The Bank of Princeton Scenario

Rate:
0.35%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 70 49
2 20,070 70 49
3 20,140 70 49
4 20,211 71 50
5 20,281 71 50
6 20,352 71 50
7 20,424 71 50
8 20,495 72 50
9 20,567 72 50
10 20,639 72 51
TOTAL: $711 $498

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 20, 2023 0.35%


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Customer Reviews for The Bank of Princeton


  • November 1, 2022 |

    This local community bank “by far” exceeded my expectations of what a banking institution should be. They take the time to understand their customers needs, educatedly answer questions, and take the time to follow up when needed. With an unsettling employee turnover and many larger branch closings, those tasks can easily fall short of the mark. Consider this...community bank management and board members ARE part of the community, not just sitting in lofty towers somewhere.


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