Banking On Knowledge

One of the top questions we receive at Western State Bank is "how do you calculate CD interest?" So we are here to explain the basics and the key differences in the ways banks figure interest on a cd. While the basic formula for calculating CD interest is standard across banks, there are a few important details that can vary—and these can impact how much interest you actually earn.

We keep hearing that “interest rates are dropping,” but when we check loan rates, they don’t seem to be falling—in fact, some are going up. So, what’s going on? In this Banking on Knowledge article, we clear up the confusion and explain why different rates move in different directions--and what that means for you.