Compound Interest Calculator
CD 1-year Account from DIRECT with 3.06% APY and $100,000 minimum deposit

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The product CD 1-year Account from DIRECT with 3.06% APY and $100,000 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 $27,035. The interest earned would be $7,035 and the tax amount on the interest earned would be approximately $2,111.

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 DIRECT

Savings Boost of
$4,140 over 10 years

Cash Savings $20,000

Average Interest Earned $785

DIRECT Interest Earned $4,925

Compare

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: 0.55%	Annual Interest	Annual Interest (After Tax)
1	20,000	109	77
2	20,109	110	77
3	20,219	111	77
4	20,330	111	78
5	20,441	112	78
6	20,553	112	79
7	20,665	113	79
8	20,778	114	80
9	20,892	114	80
10	21,006	115	80
	TOTAL:	$1,121	$785

DIRECT Scenario

	Rate: 3.06%	Annual Interest	Annual Interest (After Tax)
1	20,000	612	428
2	20,612	631	442
3	21,243	650	455
4	21,893	670	469
5	22,563	690	483
6	23,253	712	498
7	23,965	733	513
8	24,698	756	529
9	25,454	779	545
10	26,233	803	562
	TOTAL:	$7,035	$4,925

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.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Finworth, a division of InsBank	4.20%	$50,000	Learn More
Last change: ↑0.20% on December 7. Early Withdrawal Penalty is 6 months interest.
Northern Bank Direct	4.15%	$500	Learn More
Last change: ↑0.15% on December 22.
Limelight Bank, A division of Capital Community Bank	4.10%	$1,000	Learn More
Sallie Mae Bank	4.10%	$2,500	Learn More
Last change: ↑0.20% on December 7.
Synchrony Bank	4.10%	$0	Learn More
Last change: ↑0.10% on November 3. Early Withdrawal Penalty is 90 days interest.

Compound Interest Calculator CD 1-year Account from DIRECT with 3.06% APY and $100,000 minimum deposit