Compound Interest Calculator
CD Account from The Bank of Southside Virginia with 0.30% 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 The Bank of Southside Virginia

Savings Boost of
$-334 over 10 years
Cash Savings $20,000
Average Interest Earned $760

 
The Bank of Southside Virginia Interest Earned $426

 

 

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:
0.53%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 106 74
2 20,106 107 75
3 20,213 107 75
4 20,320 108 75
5 20,427 108 76
6 20,536 109 76
7 20,644 109 77
8 20,754 110 77
9 20,864 111 77
10 20,974 111 78
TOTAL: $1,086 $760

The Bank of Southside Virginia Scenario

Rate:
0.30%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 60 42
2 20,060 60 42
3 20,120 60 42
4 20,181 61 42
5 20,241 61 43
6 20,302 61 43
7 20,363 61 43
8 20,424 61 43
9 20,485 61 43
10 20,547 62 43
TOTAL: $608 $426

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.