Compound Interest Calculator
CD 1-year Account from Clear Sky Accounts with 3.00% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Clear Sky Accounts with 3.00% APY and $1,000 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 $26,878. The interest earned would be $6,878 and the tax amount on the interest earned would be approximately $2,063.

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 Clear Sky Accounts

Savings Boost of
$4,011 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
Clear Sky Accounts Interest Earned $4,815

 

 

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:
0.56%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 112 78
2 20,112 113 79
3 20,225 113 79
4 20,338 114 80
5 20,452 115 80
6 20,566 115 81
7 20,681 116 81
8 20,797 116 82
9 20,914 117 82
10 21,031 118 82
TOTAL: $1,149 $804

Clear Sky Accounts Scenario

Rate:
3.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 600 420
2 20,600 618 433
3 21,218 637 446
4 21,855 656 459
5 22,510 675 473
6 23,185 696 487
7 23,881 716 502
8 24,597 738 517
9 25,335 760 532
10 26,095 783 548
TOTAL: $6,878 $4,815

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
May 28, 2024 3.00%
August 19, 2023 0.75%


Featured CD Rates

Advertiser Disclosure
ONLINE BANKS APY? MIN?

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7-Month

5 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%.



Customer Reviews for Clear Sky Accounts


  • May 26, 2017

    Online Savings Rates

    Before009

  • May 23, 2016

    Online Savings Rates

    Always a great customer service experience, but the use of a key fob to produce an ID in order to login became a real pain so I had to close the account.


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