Compound Interest Calculator

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

Cash Savings

Product:

Average Rate (%):

Best Rate (%):

Compound Interest Period:

Tax Rate:

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The Results

Savings Boost of
$9,680 over 10 years

Cash Savings $20,000

Average Interest Earned $234

Best Interest Earned $9,914

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

Scenario 1

	Rate: 0.17%	Annual Interest	Annual Interest (After Tax)
1	20,000	33	23
2	20,033	33	23
3	20,066	33	23
4	20,100	33	23
5	20,133	33	23
6	20,167	33	23
7	20,200	34	23
8	20,234	34	24
9	20,267	34	24
10	20,301	34	24
	TOTAL:	$334	$234

Scenario 2

	Rate: 5.50%	Annual Interest	Annual Interest (After Tax)
1	20,000	1,100	770
2	21,100	1,161	812
3	22,261	1,224	857
4	23,485	1,292	904
5	24,776	1,363	954
6	26,139	1,438	1,006
7	27,577	1,517	1,062
8	29,094	1,600	1,120
9	30,694	1,688	1,182
10	32,382	1,781	1,247
	TOTAL:	$14,163	$9,914

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

Advertiser Disclosure

ONLINE BANKS	APY^?	MIN^?
Forbright Bank	5.65%	$1,000	Learn More on the Forbright Bank website
Start earning 5.65% APY with a high-yield CD that supports a greener economy. Easy signup. FDIC-insured.
First Foundation Bank	4.75%	$2,500	Learn More on the First Foundation Bank website
High-yield savings with long-term rate security. Member FDIC.
First Foundation Bank	4.75%	$2,500	Learn More on the First Foundation Bank website
High-yield savings with long-term rate security. Member FDIC.
Discover Bank	5.00%	$2,500	Learn More on the Discover Bank website
Guaranteed returns. No account fees. Member FDIC.
Discover Bank	5.00%	$2,500	Learn More on the Discover Bank website
Guaranteed returns. No account fees. Member FDIC.