Compound Interest Calculator
CD 3-month Account from REDWOOD with 3.75% APY and $1,000 minimum deposit

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The product CD 3-month Account from REDWOOD with 3.75% 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 $28,901. The interest earned would be $8,901 and the tax amount on the interest earned would be approximately $2,670.

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 REDWOOD

Savings Boost of
$5,915 over 10 years

Cash Savings $20,000

Average Interest Earned $315

REDWOOD Interest Earned $6,231

Compare

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	45	31
2	20,045	45	31
3	20,089	45	31
4	20,134	45	31
5	20,179	45	31
6	20,224	45	32
7	20,269	45	32
8	20,314	45	32
9	20,360	45	32
10	20,405	46	32
	TOTAL:	$451	$315

REDWOOD Scenario

	Rate: 3.75%	Annual Interest	Annual Interest (After Tax)
1	20,000	750	525
2	20,750	778	545
3	21,528	807	565
4	22,335	838	586
5	23,173	869	608
6	24,042	902	631
7	24,944	935	655
8	25,879	970	679
9	26,849	1,007	705
10	27,856	1,045	731
	TOTAL:	$8,901	$6,231

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 19, 2025	3.75%

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Compound Interest Calculator CD 3-month Account from REDWOOD with 3.75% APY and $1,000 minimum deposit