Compound Interest Calculator
CD 1-year Account from First National Bank of Scotia with 1.57% APY and $500 minimum deposit

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The product CD 1-year Account from First National Bank of Scotia with 1.57% 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 $23,371. The interest earned would be $3,371 and the tax amount on the interest earned would be approximately $1,011.

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 National Bank of Scotia

Savings Boost of
$1,575 over 10 years

Cash Savings $20,000

Average Interest Earned $785

First National Bank of Scotia Interest Earned $2,360

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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

First National Bank of Scotia Scenario

	Rate: 1.57%	Annual Interest	Annual Interest (After Tax)
1	20,000	314	220
2	20,314	319	223
3	20,633	324	227
4	20,957	329	230
5	21,286	334	234
6	21,620	339	238
7	21,960	345	241
8	22,304	350	245
9	22,654	356	249
10	23,010	361	253
	TOTAL:	$3,371	$2,360

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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
April 21, 2025	1.57%
March 10, 2025	1.03%
February 24, 2025	0.89%
December 23, 2024	0.67%
November 4, 2024	0.69%
September 30, 2024	0.65%
July 1, 2024	0.55%
June 10, 2024	0.50%
December 10, 2023	0.45%

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Customer Reviews for First National Bank of Scotia

Zflash4000

October 1, 2017

Will play games with your account. changing posting dates and times. Will hold direct deposit so you overdraft your account.

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Compound Interest Calculator CD 1-year Account from First National Bank of Scotia with 1.57% APY and $500 minimum deposit