Compare Savings vs. CDs
Comparison of Deposit Account from Canadian Imperial Bank USA with 5.01% - March 2024


Long-Term Analysis of Canadian Imperial Bank USA with 5.01% APY

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

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$
PRODUCT
BANK
APY
STATE
AMOUNT
TERM
BANK TYPE
VS.NAT.AV.
MIN
  • 1
    ONLINE SAVINGS
    5.01%
    -
    $50,000
    N.A.
    Online Bank
    23.63x (National Avg. - 0.21%)
    $1,000
     
    SCENARIO
    Year Rate
    5.01%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,505 1,754
    2 52,505 2,631 1,841
    3 55,136 2,762 1,934
    4 57,898 2,901 2,030
    5 60,798 3,046 2,132
    6 63,844 3,199 2,239
    7 67,043 3,359 2,351
    8 70,402 3,527 2,469
    9 73,929 3,704 2,593
    10 77,633 3,889 2,723
    11 81,522 4,084 2,859
    12 85,607 4,289 3,002
    13 89,895 4,504 3,153
    14 94,399 4,729 3,311
    15 99,129 4,966 3,476
    16 104,095 5,215 3,651
    17 109,310 5,476 3,834
    18 114,787 5,751 4,026
    19 120,537 6,039 4,227
    20 126,576 6,341 4,439
    TOTAL $82,918 $58,042

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%.

    Last change: ↑0.46% on December 15, 2023.

    Last change: ↑0.20% on September 8, 2023.

    Last change: ↓0.05% on March 15.

    Last change: ↑0.09% on March 12.