Compound Interest Calculator
CD 6-month Account from Bread Savings, a division of Bread Financial with 5.00% APY and $1,500 minimum deposit



Use or Change These Amounts and Rates

The product CD 6-month Account from Bread Savings, a division of Bread Financial with 5.00% APY and $1,500 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 $32,578. The interest earned would be $12,578 and the tax amount on the interest earned would be approximately $3,773.

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 Bread Savings, a division of Bread Financial

Savings Boost of
$8,489 over 10 years
Cash Savings $20,000
Average Interest Earned $315

 
Bread Savings, a division of Bread Financial Interest Earned $8,805

 

 

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 45 31
2 20,045 45 31
3 20,089 45 31
4 20,134 45 31
5 20,179 45 31
6 20,224 45 32
7 20,269 45 32
8 20,314 45 32
9 20,360 45 32
10 20,405 46 32
TOTAL: $451 $315

Bread Savings, a division of Bread Financial Scenario

Rate:
5.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,000 700
2 21,000 1,050 735
3 22,050 1,103 772
4 23,153 1,158 810
5 24,310 1,216 851
6 25,526 1,276 893
7 26,802 1,340 938
8 28,142 1,407 985
9 29,549 1,477 1,034
10 31,027 1,551 1,086
TOTAL: $12,578 $8,805

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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.



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Customer Reviews for Bread Savings, a division of Bread Financial (49)


  • July 26, 2024 |

    Online Savings Rates

    Multiple roadblocks trying to set up a savings account with Bread Financial, even though I already have a CD with them. My application was ultimately declined, in spite of my multiple CDs among three banks, stock investments, eleven credit cards, and credits scores that have never been outside the 800s. I took my business elsewhere.

  • August 13, 2023 |

    Yup Bread has 5k daily and 30k monthly limit on ach transfers. It's low but there are other banks who have similar ach limits if not lower like Valley Direct Bank and BMO Alto. The part that bothers me is that Bread doesn't list it anywhere on there website but they are not the only ones, so it's not fair to pick on Bread. The main reason is due to security, but the downside is that customers who went to transfer more out are limited and will be blocked.

    Heard of success stories of others requesting for a ach increase upto 100k daily but that is not always guaranteed. I guess most people just make the low ach limits work somehow? Either through planning ahead and making multiple transfers or getting an increase or just going with another bank with higher ach limits.

    For me, ach limits has never been a problem because I hardly ever transfer out.

  • May 19, 2023 |

    Online CDs 24 Month Rates

    Was very easy to set up. Worked well did not reject my application like many others. It took me less than 10 minutes and it was all set up.

  • May 1, 2023 |

    Online Savings Rates

    This is a terrible bank. Not sure how they took to the name "Bread". Carnage would be better. The woman on the phone had a nice voice though.

  • March 27, 2023 |

    Online Savings Rates

    Rate may look competitive but you'll fall into the black hole of awful service and constant cross selling the moment you open an account.


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