Compound Interest Calculator
Savings Account from The Park Bank with 0.01% APY



Use or Change These Amounts and Rates

The product Savings Account from The Park Bank with 0.01% APY and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $20,020. The interest earned would be $20 and the tax amount on the interest earned would be approximately $6.

Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account

The Results for The Park Bank

Savings Boost of
$-290 over 10 years
Cash Savings $20,000
Average Interest Earned $304

 
The Park Bank Interest Earned $14

 

 

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:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 43 30
2 20,043 43 30
3 20,086 43 30
4 20,129 43 30
5 20,173 43 30
6 20,216 43 30
7 20,259 44 30
8 20,303 44 31
9 20,347 44 31
10 20,390 44 31
TOTAL: $434 $304

The Park Bank Scenario

Rate:
0.01%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 2 1
2 20,002 2 1
3 20,004 2 1
4 20,006 2 1
5 20,008 2 1
6 20,010 2 1
7 20,012 2 1
8 20,014 2 1
9 20,016 2 1
10 20,018 2 1
TOTAL: $20 $14

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?

6 Month CD Special. 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.
3 Month CD.

Last change: ↑0.60% on April 19.
Warning: Early Withdrawal Penalty is 12 Months interest.

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

Last change: ↓0.05% on March 15.
3 Month CD.



Customer Reviews for The Park Bank


  • January 29, 2022 |

    Discriminatory and unfair practices including closing accounts for reasons they so choose of those who are non-caucasion, lower incomes and older in age but do not follow the same guidelines for white, wealthier and younger clients or business clients. I know this as I have a close friend who is white, in her 40's and appears wealthy. She has a personal account and a business account that she consistently overdraws and has had leviess placed on both accounts, but she still is able to overdraw both accounts significantly on a regular basis, and I on the other hand, black woman in my 50's, with a personal account, and credit card, was told I going to have my account closed if I lost my debit card again. I lost my debit card and it was used by someone who found it, so they warned me if I ask for another debit xard to be re-issued in the future due to me losing it, they will close my accounts. I have always maintained a positive balance and have been a customer for several years, but I believe because I am black and mid to lower income, they view me as a risk and do not care if they have my business.
    The worst part is I stopped at the Fitchburg Branch and went next door to Starbucks after, where I happened to be sitting at a table next to two women who were wearing branded park bank attire, openly discussing an employee they managed and what things they could do in order to get the employee to quit as well as what methods they could take to find a reason to fire them. I was appalled at what I overheard as they mentioned they just didn't like the employee because they were too concerned over their employee's happiness and challenged their authority by questioning a policy instead of doing what they are paid to do which was to enforce it. They were making jokes about the person's car and the way they talked and dressed. It was disgusting. I closed my accounts the next day and went to a credit union.


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