Compound Interest Calculator
CD 1-year Account from Northfield Bank with 2.00% APY and $0 minimum deposit



Use or Change These Amounts and Rates

The product CD 1-year Account from Northfield Bank with 2.00% APY and $0 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 $24,380. The interest earned would be $4,380 and the tax amount on the interest earned would be approximately $1,314.

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 Northfield Bank

Savings Boost of
$2,262 over 10 years
Cash Savings $20,000
Average Interest Earned $804

 
Northfield Bank Interest Earned $3,066

 

 

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

Northfield Bank Scenario

Rate:
2.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 400 280
2 20,400 408 286
3 20,808 416 291
4 21,224 424 297
5 21,649 433 303
6 22,082 442 309
7 22,523 450 315
8 22,974 459 322
9 23,433 469 328
10 23,902 478 335
TOTAL: $4,380 $3,066

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
December 22, 2023 2.00%
December 15, 2023 1.25%
December 1, 2023 5.65%
November 24, 2023 1.25%
August 19, 2023 4.75%


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: ↓0.05% on May 9.

Last change: ↓0.04% on July 5.
6 Month Jumbo CD.

Last change: ↑0.90% on May 7.



Customer Reviews for Northfield Bank


  • April 30, 2019 |

    Online Savings Rates

    No issues. I feel confident using them.


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