Compound Interest Calculator
CD Account from The Bank of Southside Virginia with 0.60% 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
$-144 over 10 years
Cash Savings $20,000
Average Interest Earned $1,007

 
The Bank of Southside Virginia Interest Earned $863

 

 

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:
0.70%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 139 98
2 20,139 140 98
3 20,280 141 99
4 20,421 142 100
5 20,563 143 100
6 20,707 144 101
7 20,851 145 102
8 20,996 146 102
9 21,143 147 103
10 21,290 148 104
TOTAL: $1,439 $1,007

The Bank of Southside Virginia Scenario

Rate:
0.60%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 120 84
2 20,120 121 85
3 20,241 121 85
4 20,362 122 86
5 20,484 123 86
6 20,607 124 87
7 20,731 124 87
8 20,855 125 88
9 20,980 126 88
10 21,106 127 89
TOTAL: $1,233 $863

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.