Compound Interest Calculator
Savings Account from SFGI Direct, a division of Summit Community Bank with 1.01% 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.

Use or Change these Amounts And Rates

The Results for SFGI Direct, a division of Summit Community Bank

Savings Boost of
$1,311 over 10 years
Cash Savings $20,000
Average Interest Earned $169

 
SFGI Direct, a division of Summit Community Bank Interest Earned $1,480

 

 

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:
0.12%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 24 17
2 20,024 24 17
3 20,048 24 17
4 20,072 24 17
5 20,096 24 17
6 20,120 24 17
7 20,144 24 17
8 20,169 24 17
9 20,193 24 17
10 20,217 24 17
TOTAL: $241 $169

SFGI Direct, a division of Summit Community Bank Scenario

Rate:
1.01%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 202 141
2 20,202 204 143
3 20,406 206 144
4 20,612 208 146
5 20,820 210 147
6 21,031 212 149
7 21,243 215 150
8 21,458 217 152
9 21,674 219 153
10 21,893 221 155
TOTAL: $2,114 $1,480

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.