Compound Interest Calculator
Savings Account from FIRST COMMERCE with 2.53% APY and $5 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from FIRST COMMERCE with 2.53% APY and $5 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 $25,677. The interest earned would be $5,677 and the tax amount on the interest earned would be approximately $1,703.

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 FIRST COMMERCE

Savings Boost of
$3,667 over 10 years
Cash Savings $20,000
Average Interest Earned $307

 
FIRST COMMERCE Interest Earned $3,974

 

 

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 43 30
2 20,043 43 30
3 20,087 44 31
4 20,130 44 31
5 20,174 44 31
6 20,218 44 31
7 20,262 44 31
8 20,306 44 31
9 20,350 44 31
10 20,394 44 31
TOTAL: $438 $307

FIRST COMMERCE Scenario

Rate:
2.53%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 506 354
2 20,506 519 363
3 21,025 532 372
4 21,557 545 382
5 22,102 559 391
6 22,661 573 401
7 23,235 588 411
8 23,822 603 422
9 24,425 618 433
10 25,043 634 444
TOTAL: $5,677 $3,974

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
August 19, 2023 2.53%


Featured CD Rates

ONLINE BANKS APY? MIN?

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%.

Last change: ↓0.15% on May 13.
3 Month CD.

Last change: ↑0.09% on March 12.
6 Month Jumbo CD.

Last change: ↓0.05% on May 9.

Last change: ↓0.36% on March 12.
Early Withdrawal Penalty is 3 months interest.