Compound Interest Calculator
CD Account from Belmont Savings Bank, SSB with 0.80% APY

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 for Belmont Savings Bank, SSB

Savings Boost of
$988 over 10 years
Cash Savings $20,000
Average Interest Earned $173

 
Belmont Savings Bank, SSB Interest Earned $1,161

 

 

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:
0.12%
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

Belmont Savings Bank, SSB Scenario

Rate:
0.80%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 160 112
2 20,160 161 113
3 20,321 163 114
4 20,484 164 115
5 20,648 165 116
6 20,813 167 117
7 20,979 168 117
8 21,147 169 118
9 21,316 171 119
10 21,487 172 120
TOTAL: $1,659 $1,161

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.