Compound Interest Calculator
Savings Account from Valley National Bank with 0.60% APY and $100 minimum deposit



Use or Change These Amounts and Rates

The product Savings Account from Valley National Bank with 0.60% APY and $100 minimum deposit 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 $21,233. The interest earned would be $1,233 and the tax amount on the interest earned would be approximately $370.

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 Valley National Bank

Savings Boost of
$548 over 10 years
Cash Savings $20,000
Average Interest Earned $315

 
Valley National Bank 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:
0.22%
Annual
Interest
Annual Interest
(After Tax)
1 20,000 45 31
2 20,045 45 31
3 20,089 45 31
4 20,134 45 31
5 20,179 45 31
6 20,224 45 32
7 20,269 45 32
8 20,314 45 32
9 20,360 45 32
10 20,405 46 32
TOTAL: $451 $315

Valley National Bank 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.


Recent Rate Changes



Date APY
September 5, 2024 0.60%


Featured CD Rates

ONLINE BANKS APY? MIN?

Last change: ↑0.05% on August 24.
Warning: Early withdrawal penalty equals six months of interest.

Last change: ↓0.45% on May 13.
6 Month CD.

Last change: ↓0.10% on October 7.

Last change: ↓0.51% on October 1.
3 Month CD.



Customer Reviews for Valley National Bank


  • December 2, 2022 |

    No such limits as referred to by Jonathan. Perfectly Happy with service and keep adjusting the rate!

  • October 19, 2019

    CDs 12 Month Rates

    10,000


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