Compound Interest Calculator
CD Account from The Bank of Southside Virginia with 0.75% 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
$-58 over 10 years
Cash Savings $20,000
Average Interest Earned $1,145

 
The Bank of Southside Virginia Interest Earned $1,086

 

 

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:
0.79%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 158 110
2 20,158 159 111
3 20,317 160 112
4 20,477 162 113
5 20,639 163 114
6 20,802 164 115
7 20,966 165 116
8 21,131 167 117
9 21,298 168 118
10 21,466 169 119
TOTAL: $1,635 $1,145

The Bank of Southside Virginia Scenario

Rate:
0.75%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 150 105
2 20,150 151 106
3 20,301 152 107
4 20,453 153 107
5 20,607 155 108
6 20,761 156 109
7 20,917 157 110
8 21,074 158 111
9 21,232 159 111
10 21,391 160 112
TOTAL: $1,552 $1,086

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.