Compound Interest Calculator
Money Market Account from Chambers Bank with 0.20% APY and $10,000 minimum deposit



Use or Change These Amounts and Rates

The product Money Market Account from Chambers Bank with 0.20% APY and $10,000 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 $20,404. The interest earned would be $404 and the tax amount on the interest earned would be approximately $121.

Please note that this product is available in Arkansas and this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.

The Results for Chambers Bank

Savings Boost of
$-29 over 10 years
Cash Savings $20,000
Average Interest Earned $311

 
Chambers Bank Interest Earned $283

 

 

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 20,132 44 31
5 20,177 44 31
6 20,221 44 31
7 20,265 45 31
8 20,310 45 31
9 20,355 45 31
10 20,400 45 31
TOTAL: $444 $311

Chambers Bank Scenario

Rate:
0.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 40 28
2 20,040 40 28
3 20,080 40 28
4 20,120 40 28
5 20,160 40 28
6 20,201 40 28
7 20,241 40 28
8 20,282 41 28
9 20,322 41 28
10 20,363 41 29
TOTAL: $404 $283

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.



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Customer Reviews for Chambers Bank


  • November 6, 2016 |

    Chambers Bank is the best bank by far! The branch in Mena still has the small town friendly atmosphere. Quick service and they know you by name.


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