Compound Interest Calculator
CD Account from Better Banks with 4.03% APY

Use or Change These Amounts and Rates

Cash Savings

Product:

Average Rate (%):

Better Banks Rate (%):

Compound Interest Period:

Tax Rate:

Email (optional for newsletter registration)

Please leave this field blank

The product CD Account from Better Banks with 4.03% 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 $29,690. The interest earned would be $9,690 and the tax amount on the interest earned would be approximately $2,907.

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 Better Banks

Savings Boost of
$6,479 over 10 years

Cash Savings $20,000

Average Interest Earned $304

Better Banks Interest Earned $6,783

Compare

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	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

Better Banks Scenario

	Rate: 4.03%	Annual Interest	Annual Interest (After Tax)
1	20,000	806	564
2	20,806	838	587
3	21,644	872	611
4	22,517	907	635
5	23,424	944	661
6	24,368	982	687
7	25,350	1,022	715
8	26,372	1,063	744
9	27,435	1,106	774
10	28,540	1,150	805
	TOTAL:	$9,690	$6,783

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
January 17, 2024	4.03%
January 17, 2024	1.00%

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Blue Foundry Bank	6.00%	$5,000	Learn More
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%.
TotalDirect, a division of City National Bank of Florida	5.66%	$25,000	Learn More
Last change: ↑0.46% on December 15, 2023. 3 Month CD.
Northern Bank Direct	5.60%	$500	Learn More
Last change: ↑0.60% on April 19. Warning: Early Withdrawal Penalty is 12 Months interest.
Bank5 Connect	5.50%	$500	Learn More
Last change: ↑0.20% on September 8, 2023. 6 Month CD.
Modern Bank, National Association	5.50%	$10,000	Learn More
Last change: ↓0.05% on March 15. 3 Month CD.

Compound Interest Calculator CD Account from Better Banks with 4.03% APY