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
$3,007 over 10 years
$20,000 Cash Savings
$227 Avg. Rate Savings
$3,234 Best Rate Savings
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:
0.16%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 32 23
2 20,032 32 23
3 20,064 32 23
4 20,097 32 23
5 20,129 32 23
6 20,162 32 23
7 20,194 33 23
8 20,226 33 23
9 20,259 33 23
10 20,292 33 23
TOTAL: $324 $227

Scenario 2

Rate:
2.10%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 420 294
2 20,420 429 300
3 20,849 438 306
4 21,287 447 313
5 21,734 456 319
6 22,190 466 326
7 22,656 476 333
8 23,132 486 340
9 23,618 496 347
10 24,114 506 354
TOTAL: $4,620 $3,234

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.