Compound Interest Calculator
CD Account from Carver Federal Savings Bank with 0.63% APY

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The product CD Account from Carver Federal Savings Bank with 0.63% 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 $21,296. The interest earned would be $1,296 and the tax amount on the interest earned would be approximately $389.

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 Carver Federal Savings Bank

Savings Boost of
$-266 over 10 years

Cash Savings $20,000

Average Interest Earned $1,173

Carver Federal Savings Bank Interest Earned $907

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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: 0.81%	Annual Interest	Annual Interest (After Tax)
1	20,000	162	113
2	20,162	163	114
3	20,325	164	115
4	20,489	166	116
5	20,654	167	117
6	20,821	168	118
7	20,989	170	119
8	21,159	171	120
9	21,330	172	121
10	21,502	174	122
	TOTAL:	$1,676	$1,173

Carver Federal Savings Bank Scenario

	Rate: 0.63%	Annual Interest	Annual Interest (After Tax)
1	20,000	126	88
2	20,126	127	89
3	20,253	128	89
4	20,380	128	90
5	20,509	129	90
6	20,638	130	91
7	20,768	131	92
8	20,899	132	92
9	21,031	132	93
10	21,163	133	93
	TOTAL:	$1,296	$907

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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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Compound Interest Calculator CD Account from Carver Federal Savings Bank with 0.63% APY