Compound Interest Calculator
CD 1-year Account from WebBank with 3.50% APY and $2,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from WebBank with 3.50% APY and $2,500 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 $28,212. The interest earned would be $8,212 and the tax amount on the interest earned would be approximately $2,464.

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 WebBank

Savings Boost of
$4,958 over 10 years
Cash Savings $20,000
Average Interest Earned $791

 
WebBank Interest Earned $5,748

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 110 77
2 20,110 111 78
3 20,221 111 78
4 20,332 112 78
5 20,444 113 79
6 20,557 113 79
7 20,670 114 80
8 20,784 115 80
9 20,899 115 81
10 21,014 116 81
TOTAL: $1,130 $791

WebBank Scenario

Rate:
3.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 700 490
2 20,700 725 507
3 21,425 750 525
4 22,174 776 543
5 22,950 803 562
6 23,754 831 582
7 24,585 860 602
8 25,446 891 623
9 26,336 922 645
10 27,258 954 668
TOTAL: $8,212 $5,748

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
April 16, 2025 3.50%
August 19, 2023 1.10%


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Customer Reviews for WebBank


  • August 13, 2019 |

    Online Savings Rates

    I filled out the application 10 days ago answering all questions and sent a file with a copy of my drivers license to Western Bank. I received an email saying that a banker would call me within one business day. I have yet to ever hear from them. Very unprofessional way of doing business.

  • June 3, 2019 |

    Online Savings Rates

    These jackasses charge $25 for an outgoing ACH transfer. Bankrate failed to disclose this (I saw it advertised there before it was listed on BestCashCow). This isn't an online bank as advertised and neither one of them should be showing it. Webbank is scam.


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