Compound Interest Calculator
CD 2-year Account from Unity Bank with 0.94% APY and $500 minimum deposit

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The product CD 2-year Account from Unity Bank with 0.94% 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 $21,962. The interest earned would be $1,962 and the tax amount on the interest earned would be approximately $588.

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

The Results for Unity Bank

Savings Boost of
$424 over 10 years

Cash Savings $20,000

Average Interest Earned $949

Unity Bank Interest Earned $1,373

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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	132	92
2	20,132	132	93
3	20,264	133	93
4	20,397	134	94
5	20,532	135	95
6	20,667	136	95
7	20,803	137	96
8	20,940	138	96
9	21,077	139	97
10	21,216	140	98
	TOTAL:	$1,356	$949

Unity Bank Scenario

	Rate: 0.94%	Annual Interest	Annual Interest (After Tax)
1	20,000	188	132
2	20,188	190	133
3	20,378	192	134
4	20,569	193	135
5	20,763	195	137
6	20,958	197	138
7	21,155	199	139
8	21,354	201	141
9	21,554	203	142
10	21,757	205	143
	TOTAL:	$1,962	$1,373

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.

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Compound Interest Calculator CD 2-year Account from Unity Bank with 0.94% APY and $500 minimum deposit