Compound Interest Calculator
CD 2-year Account from VeraBank, National Association with 2.98% APY and $10,000 minimum deposit

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The product CD 2-year Account from VeraBank, National Association with 2.98% APY and $10,000 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 $26,826. The interest earned would be $6,826 and the tax amount on the interest earned would be approximately $2,048.

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 VeraBank, National Association

Savings Boost of
$3,831 over 10 years

Cash Savings $20,000

Average Interest Earned $947

VeraBank, National Association Interest Earned $4,778

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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	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

VeraBank, National Association Scenario

	Rate: 2.98%	Annual Interest	Annual Interest (After Tax)
1	20,000	596	417
2	20,596	614	430
3	21,210	632	442
4	21,842	651	456
5	22,493	670	469
6	23,163	690	483
7	23,853	711	498
8	24,564	732	512
9	25,296	754	528
10	26,050	776	543
	TOTAL:	$6,826	$4,778

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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	2.98%

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Compound Interest Calculator CD 2-year Account from VeraBank, National Association with 2.98% APY and $10,000 minimum deposit