Compound Interest Calculator
Savings Account from Banner Bank with 3.51% APY and $1,000,000 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Banner Bank with 3.51% APY and $1,000,000 minimum deposit 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 $28,239. The interest earned would be $8,239 and the tax amount on the interest earned would be approximately $2,472.

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 Banner Bank

Savings Boost of
$5,455 over 10 years
Cash Savings $20,000
Average Interest Earned $312

 
Banner Bank Interest Earned $5,767

 

 

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

Rate:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 44 31
2 20,044 44 31
3 20,088 44 31
4 20,133 44 31
5 20,177 45 31
6 20,222 45 31
7 20,267 45 31
8 20,311 45 31
9 20,356 45 31
10 20,401 45 32
TOTAL: $446 $312

Banner Bank Scenario

Rate:
3.51%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 702 491
2 20,702 727 509
3 21,429 752 527
4 22,181 779 545
5 22,959 806 564
6 23,765 834 584
7 24,599 863 604
8 25,463 894 626
9 26,357 925 648
10 27,282 958 670
TOTAL: $8,239 $5,767

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.


Recent Rate Changes



Date APY
July 8, 2024 3.51%
December 4, 2023 3.56%
December 4, 2023 1.00%


Featured CD Rates

Advertiser Disclosure
ONLINE BANKS APY? MIN?

5.15% APY, 13-Month Online CD. Easy online application. Interest compounded daily. FDIC Insured.

12-Month

5.15% APY, 13-Month Online CD. Easy online application. Interest compounded daily. FDIC Insured.

13-Month

Save for the things you want later. Easy online application.

7-Month

7-Month CD Special - Save for the things you want later. Easy online application.

6-Month

5 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%.



Customer Reviews for Banner Bank


  • March 25, 2020 |

    Banner bank is sometimes hard to work with. If you have a construction loan to get a disbursement you fill out a sheet with the line item (not a big deal). Then they schedule an inspection that you pay $150 for each time! Well hell's bells how many milestones are there in a construction project! It is a great racket on their part.


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