Compound Interest Calculator
CD 1-year Account from Manufacturers and Traders Trust Company with 4.50% APY and $1,000 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Manufacturers and Traders Trust Company with 4.50% APY and $1,000 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 $31,059. The interest earned would be $11,059 and the tax amount on the interest earned would be approximately $3,318.

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 Manufacturers and Traders Trust Company

Savings Boost of
$6,938 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
Manufacturers and Traders Trust Company Interest Earned $7,742

 

 

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

Manufacturers and Traders Trust Company Scenario

Rate:
4.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 900 630
2 20,900 941 658
3 21,841 983 688
4 22,823 1,027 719
5 23,850 1,073 751
6 24,924 1,122 785
7 26,045 1,172 820
8 27,217 1,225 857
9 28,442 1,280 896
10 29,722 1,337 936
TOTAL: $11,059 $7,742

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
May 20, 2024 4.50%
January 12, 2024 3.75%
November 27, 2023 4.50%


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Advertiser Disclosure
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Customer Reviews for Manufacturers and Traders Trust Company


  • August 5, 2020 |

    I used to go to M&T when it was still Provident Bank. M&T has been very responsive to my needs and I have been pleased with the banking experience.

  • March 26, 2016

    I have a question about the 60 Mo FIRA, 2.02% APY, min $1,000 to open. Is this for Traditional, Roth, or either? Please send a reply to mw2196@gmail.com

  • September 26, 2015

    Been an M&T Customer from it's Goldome days. They're a real bank, savings and loan... due dilligence on their mortgage properties, I had to supply a lot more paperwork than with other banks I was looking at at the time.


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