Compound Interest Calculator
CD Account from The Bank of Southside Virginia with 0.50% 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
$-186 over 10 years
Cash Savings $20,000
Average Interest Earned $902

 
The Bank of Southside Virginia Interest Earned $716

 

 

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:
0.63%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 125 88
2 20,125 126 88
3 20,251 127 89
4 20,378 128 89
5 20,506 128 90
6 20,634 129 90
7 20,763 130 91
8 20,893 131 92
9 21,024 132 92
10 21,155 132 93
TOTAL: $1,288 $902

The Bank of Southside Virginia Scenario

Rate:
0.50%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 100 70
2 20,100 101 70
3 20,201 101 71
4 20,302 102 71
5 20,403 102 71
6 20,505 103 72
7 20,608 103 72
8 20,711 104 72
9 20,814 104 73
10 20,918 105 73
TOTAL: $1,023 $716

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.