The product CD 4-year Account from DEPARTMENT OF COMMERCE with 1.76% APY and $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 $23,812. The interest earned would be $3,812 and the tax amount on the interest earned would be approximately $1,144.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
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.
| Rate: 0.82% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 164 | 115 |
| 2 | 20,164 | 165 | 116 |
| 3 | 20,329 | 166 | 117 |
| 4 | 20,495 | 168 | 118 |
| 5 | 20,663 | 169 | 118 |
| 6 | 20,833 | 171 | 119 |
| 7 | 21,003 | 172 | 120 |
| 8 | 21,175 | 173 | 121 |
| 9 | 21,349 | 175 | 122 |
| 10 | 21,523 | 176 | 123 |
| TOTAL: | $1,700 | $1,190 |
| Rate: 1.76% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 352 | 246 |
| 2 | 20,352 | 358 | 251 |
| 3 | 20,710 | 364 | 255 |
| 4 | 21,075 | 371 | 260 |
| 5 | 21,446 | 377 | 264 |
| 6 | 21,823 | 384 | 269 |
| 7 | 22,207 | 391 | 274 |
| 8 | 22,598 | 398 | 278 |
| 9 | 22,996 | 405 | 283 |
| 10 | 23,400 | 412 | 288 |
| TOTAL: | $3,812 | $2,669 |
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.
| Date | APY |
|---|---|
| September 18, 2025 | 1.76% |
| April 4, 2025 | 2.02% |
| September 22, 2024 | 3.30% |
| September 6, 2024 | 4.08% |
| April 19, 2024 | 4.35% |
| September 15, 2023 | 4.50% |
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
4.25% |
$25,000 |
Learn More | |
|
Last change: ↓0.16% on September 18. |
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|
|
4.20% |
$1,000 |
Learn More | |
|
Last change: ↑0.05% on December 1. |
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|
|
4.15% |
$1,500 |
Learn More | |
|
Last change: ↓0.05% on December 1. |
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|
|
4.15% |
$1,000 |
Learn More | |
|
Last change: ↑0.10% on December 1. |
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|
|
4.15% |
$500 |
Learn More | |
Customer Reviews for Department of Commerce
member
December 14, 2022 |
Agree with Jaben to stay away from docfcu. They don't appreciate loyal members and easily turn down any requests after a delayed response. I have closed my accounts and moved my funds to better institutions with 24x7 customer service and peace of mind.
Is this review helpful? Yes:2 / No: 0
Jaben
November 14, 2022 |
Refused to waive penalties when I asked to move my CD into another 5 year CD in their institution prior to maturity, rather than withdrawing and placing in another bank. It took me several weeks to get a response to this question because I had to 1st start with a customer account rep and then ask someone higher up.
Other banks and credit unions waive fees if you keep the money in their bank, so I would stay away from this credit union if you want real customer service. They don't value anyone's patronage.
Is this review helpful? Yes:3 / No: 0
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