Compound Interest Calculator
Savings Account from Bank of America, National Association with 0.04% APY

Use or Change These Amounts and Rates

The product Savings Account from Bank of America, National Association with 0.04% APY 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 $20,080. The interest earned would be $80 and the tax amount on the interest earned would be approximately $24.

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 Bank of America, National Association

Savings Boost of
$-248 over 10 years
Cash Savings $20,000
Average Interest Earned $304

Bank of America, National Association Interest Earned $56



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

Annual Interest
(After Tax)
1 20,000 43 30
2 20,043 43 30
3 20,086 43 30
4 20,129 43 30
5 20,173 43 30
6 20,216 43 30
7 20,259 44 30
8 20,303 44 31
9 20,347 44 31
10 20,390 44 31
TOTAL: $434 $304

Bank of America, National Association Scenario

Annual Interest
(After Tax)
1 20,000 8 6
2 20,008 8 6
3 20,016 8 6
4 20,024 8 6
5 20,032 8 6
6 20,040 8 6
7 20,048 8 6
8 20,056 8 6
9 20,064 8 6
10 20,072 8 6
TOTAL: $80 $56

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.

Featured CD Rates


6 Month CD Special. 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.
3 Month CD.

Last change: ↑0.60% on April 19.
Warning: Early Withdrawal Penalty is 12 Months interest.

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

Last change: ↓0.05% on March 15.
3 Month CD.

Customer Reviews for Bank of America, National Association

  • July 24, 2023

    BOFA is a den of people thieves camouflaged as bank operatives. There’s a soon to be uncovered carrel of money laundry there. They took all my money and don’t want to release it to me for no particular reason. I need my money back bastards!!!

  • January 24, 2019 |

    Cut tellers, no drive up, pitiful rates

  • October 24, 2017 |

    Overall, BofA offers accessible products with a high tech mobile app and online banking platform. With their large network of ATMs and branches, you'll likely be able to easily access cash in most states. BofA is one of the "big four," meaning that you're not going to get small town personalized service unless you're a high net worth private banking client. You may have to wait in line or on the phone. Both of these things are not indicative of poor customer service. BofA customer service is decent, I personally have never had any issues with them. BofA is a good bank for those that know how to handle their money and don't plan or expect to overdraft. When I see complaints about BofA, it seems to be coming from the type of people that struggle with this. However, my biggest gripe is that they got rid of their online chat platform, which seems to be counter intuitive. Also, they could offer a middle of the road account with some benefits. Instead of a basic checking with no benefits or interest checking which requires a high balance for little benefit.

  • May 30, 2017 |

    Very poor customer service

  • February 26, 2015

    I own a 3/2 brick home built in 2006 in North Richland Hills, TX near Fort Worth that has a tax appraised value of $196,000. I currently have a single mortgage with a balance of $46,000. I will have this mortgage paid off within 12 months because I am paying at an accelerated monthly amount of $5000. My credit score is 806. Can you offer me a 3.93% HELOC for $75,000 that is locked for the first 24 months of the note which will not vary more than 2% per year after the first 24 months and can I pay interest only for the first 24 months?

Add Your Review

or use your BestCashCow account