Compound Interest Calculator
CD 1-year Account from M.Y. SAFRA BANK, FSB with 5.20% APY and $500 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from M.Y. SAFRA BANK, FSB with 5.20% 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 $33,204. The interest earned would be $13,204 and the tax amount on the interest earned would be approximately $3,961.

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 M.Y. SAFRA BANK, FSB

Savings Boost of
$8,439 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
M.Y. SAFRA BANK, FSB Interest Earned $9,243

 

 

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

M.Y. SAFRA BANK, FSB Scenario

Rate:
5.20%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,040 728
2 21,040 1,094 766
3 22,134 1,151 806
4 23,285 1,211 848
5 24,496 1,274 892
6 25,770 1,340 938
7 27,110 1,410 987
8 28,519 1,483 1,038
9 30,002 1,560 1,092
10 31,563 1,641 1,149
TOTAL: $13,204 $9,243

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
March 29, 2024 5.20%


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Customer Reviews for M.Y. Safra Bank (6)


  • July 1, 2022 |

    Online CDs 60 Month Rates

    Very easy opening process and wonderful staff.

  • June 14, 2022 |

    Easy account opening and great competitive rate.

  • October 18, 2018 | | Replies 1

    Online CDs 36 Month Rates

    Does anyone know the penalty for early withdrawl on the 3-year? It doesn't say on the website and their cSp didn't know.

    Normer | Oct 24, 2018

    The penalty will be an amount equal to the greater of credited or 90 days interest. I take it to mean if you had less than 90 days, you still owe 90days interest, if longer could owe all the interest.

  • January 18, 2018 | | Replies 1

    Online CDs 12 Month Rates

    I keep seeing this bank appearing at the top of the tables. I am intrigued. Wish someone would review it. Silly name but interesting rates.

    Tiggy | Jan 18, 2018

    https://www.depositaccounts.com/banks/my-safra-bank-fsb.html


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