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
$3,145
over 10 years
$20,000 Cash Savings
$258 Avg. Rate Savings
$3,404 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:
0.18%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 37 26
2 20,037 37 26
3 20,073 37 26
4 20,110 37 26
5 20,147 37 26
6 20,184 37 26
7 20,221 37 26
8 20,258 37 26
9 20,295 37 26
10 20,332 37 26
TOTAL: $369 $258

Scenario 2

Rate:
2.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 440 308
2 20,440 450 315
3 20,890 460 322
4 21,349 470 329
5 21,819 480 336
6 22,299 491 343
7 22,790 501 351
8 23,291 512 359
9 23,803 524 367
10 24,327 535 375
TOTAL: $4,862 $3,404

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.