Compound Interest Calculator
CD 1-year Account from InsBank with 5.38% APY and $50,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from InsBank with 5.38% APY and $50,000 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 $33,776. The interest earned would be $13,776 and the tax amount on the interest earned would be approximately $4,133.

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 InsBank

Savings Boost of
$8,839 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
InsBank Interest Earned $9,643

 

 

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:
0.56%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 112 78
2 20,112 113 79
3 20,225 113 79
4 20,338 114 80
5 20,452 115 80
6 20,566 115 81
7 20,681 116 81
8 20,797 116 82
9 20,914 117 82
10 21,031 118 82
TOTAL: $1,149 $804

InsBank Scenario

Rate:
5.38%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,076 753
2 21,076 1,134 794
3 22,210 1,195 836
4 23,405 1,259 881
5 24,664 1,327 929
6 25,991 1,398 979
7 27,389 1,474 1,031
8 28,863 1,553 1,087
9 30,416 1,636 1,145
10 32,052 1,724 1,207
TOTAL: $13,776 $9,643

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
April 19, 2024 5.38%
March 25, 2024 5.00%
August 20, 2023 3.00%


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.



Customer Reviews for InsBank (7)


  • July 7, 2022

    CDs 12 Month Rates

    Insbank 1 yr is 1.5 % 18month is 1.6% 7-7-2022

  • April 29, 2021 |

    You will not collect any interest and lose a good chunk of the principal. They don't take all of it you will still recover some money. The early withdrawl clause is always part of the terms you acknowledged when opening your CD. Early withdrawl fees are another way the bank makes money so they are adamant in collecting it.

  • April 23, 2021 |

    Online CDs 12 Month Rates

    I got a decent .70% on an an 18 month $22000 CD. The rates have been dropping fast. I learned just a few weeks ago the CD APYs will be right around 0 until 2024. The analyst I quote says these rates may never climb.
    It was quick and easy to take out a CD with this outfit. I did an ACH transfer which went smoothly. I confirmed telephonically with the office and the agent was very helpful and very professional.

  • January 5, 2021 | | Replies 1

    Online CDs 12 Month Rates

    i went to open an account. I discovered the bank is based in Tennessee. TNs two senators are voting to decertify the election. I will not open an account here and neither should you. I wish the bank weren't listed here. We're in payback time now.

    | Jun 22, 2022

    Congratulations, you brought us this crap economy with your woke vote. There is not a pill you can take or a class you can go to.....stupid is forever.

  • December 26, 2020 | | Replies 1

    Online CDs 12 Month Rates

    I found the bank on this site, but I also saw a 30-month CD at 1.15% on their site and that interested me too. I am trying to figure out what the penalty is for early cancellation of the CD if I need my money back. I called and spoke with a nice lady on Christmas eve. She didn't know and noone called back. Does anyone know?

    Bill S. | Aug 19, 2021

    I have a CD from Insbank and penalties for early withdrawal on CDs are given in the Truth In Savings document. The penalty for withdrawal on a 30 month CD is 12 months interest.


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