Compound Interest Calculator
CD Account from M.Y. SAFRA BANK, FSB with 5.16% APY



Use or Change These Amounts and Rates

The product CD Account from M.Y. SAFRA BANK, FSB with 5.16% APY 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 $33,078. The interest earned would be $13,078 and the tax amount on the interest earned would be approximately $3,923.

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
$8,850 over 10 years
Cash Savings $20,000
Average Interest Earned $304

 
M.Y. SAFRA BANK, FSB Interest Earned $9,154

 

 

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 20,086 43 30
4 20,129 43 30
5 20,173 43 30
6 20,216 43 30
7 20,259 44 30
8 20,303 44 31
9 20,347 44 31
10 20,390 44 31
TOTAL: $434 $304

M.Y. SAFRA BANK, FSB Scenario

Rate:
5.16%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 1,032 722
2 21,032 1,085 760
3 22,117 1,141 799
4 23,259 1,200 840
5 24,459 1,262 883
6 25,721 1,327 929
7 27,048 1,396 977
8 28,444 1,468 1,027
9 29,911 1,543 1,080
10 31,455 1,623 1,136
TOTAL: $13,078 $9,154

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.



Featured CD Rates

ONLINE BANKS APY? MIN?

6 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: ↑0.46% on December 15, 2023.
3 Month CD.

Last change: ↑0.60% on April 19.
Warning: Early Withdrawal Penalty is 12 Months interest.

Last change: ↑0.20% on September 8, 2023.
6 Month CD.

Last change: ↓0.05% on March 15.
3 Month CD.



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 | Apr 23, 2024

    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 | Apr 23, 2024

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


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