Compound Interest Calculator
CD Account from Summit Community Bank, Inc with 0.31% 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 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 Summit Community Bank, Inc

Savings Boost of
$-355 over 10 years
Cash Savings $20,000
Average Interest Earned $795

 
Summit Community Bank, Inc Interest Earned $440

 

 

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:
0.55%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 111 78
2 20,111 111 78
3 20,222 112 78
4 20,334 113 79
5 20,447 113 79
6 20,560 114 80
7 20,674 115 80
8 20,789 115 81
9 20,904 116 81
10 21,020 116 82
TOTAL: $1,136 $795

Summit Community Bank, Inc Scenario

Rate:
0.31%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 62 43
2 20,062 62 44
3 20,124 62 44
4 20,187 63 44
5 20,249 63 44
6 20,312 63 44
7 20,375 63 44
8 20,438 63 44
9 20,501 64 44
10 20,565 64 45
TOTAL: $629 $440

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

ONLINE BANKS APY? MIN?

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: ↑0.46% on December 15, 2023.

Last change: ↑0.20% on September 8, 2023.

Last change: ↓0.05% on March 15.

Last change: ↑0.09% on March 12.