Compound Interest Calculator
CD Account from Gateway First Bank with 1.05% APY

Small differences in savings or CD rates may seem trivial. But, earning more in your savings and CD accounts can lead to much larger account balances balances over time when you examine the difference in compound interest over time. Use our calculator on the right below to see how much larger your accounts can be by moving to higher earning savings and CD rates.

Use or Change these Amounts And Rates

The Results for Gateway First Bank

Savings Boost of
$878 over 10 years
Cash Savings $20,000
Average Interest Earned $663

 
Gateway First Bank Interest Earned $1,541

 

 

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:
0.46%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 93 65
2 20,093 93 65
3 20,186 94 66
4 20,280 94 66
5 20,374 95 66
6 20,468 95 66
7 20,563 95 67
8 20,659 96 67
9 20,755 96 67
10 20,851 97 68
TOTAL: $948 $663

Gateway First Bank Scenario

Rate:
1.05%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 210 147
2 20,210 212 149
3 20,422 214 150
4 20,637 217 152
5 20,853 219 153
6 21,072 221 155
7 21,294 224 157
8 21,517 226 158
9 21,743 228 160
10 21,971 231 161
TOTAL: $2,202 $1,541

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.