Compound Interest Calculator

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change these Amounts And Rates

The Results

Savings Boost of
$2,397 over 10 years
Cash Savings $20,000
Average Interest Earned $173

 
Best Interest Earned $2,571

 

 

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

Scenario 1

Rate:
0.12%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 25 17
2 20,025 25 17
3 20,049 25 17
4 20,074 25 17
5 20,099 25 17
6 20,123 25 17
7 20,148 25 17
8 20,173 25 17
9 20,198 25 17
10 20,222 25 17
TOTAL: $247 $173

Scenario 2

Rate:
1.70%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 340 238
2 20,340 346 242
3 20,686 352 246
4 21,037 358 250
5 21,395 364 255
6 21,759 370 259
7 22,129 376 263
8 22,505 383 268
9 22,887 389 272
10 23,277 396 277
TOTAL: $3,672 $2,571

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.