Compound Interest Calculator
Savings Account from Salem Five Direct with 1.00% APY

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.

Featured Savings

BANK APY? Vs. Nat'l Av. MIN?
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Use or Change these Amounts And Rates

The Results for Salem Five Direct

Savings Boost of
$1,275 over 10 years
Cash Savings $20,000
Average Interest Earned $190

 
Salem Five Direct Interest Earned $1,465

 

 

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:
0.14%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 27 19
2 20,027 27 19
3 20,054 27 19
4 20,081 27 19
5 20,108 27 19
6 20,135 27 19
7 20,163 27 19
8 20,190 27 19
9 20,217 27 19
10 20,244 27 19
TOTAL: $272 $190

Salem Five Direct Scenario

Rate:
1.00%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 200 140
2 20,200 202 141
3 20,402 204 143
4 20,606 206 144
5 20,812 208 146
6 21,020 210 147
7 21,230 212 149
8 21,443 214 150
9 21,657 217 152
10 21,874 219 153
TOTAL: $2,092 $1,465

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.