Compare Analysis of Charles Schwab Bank, SSB with 5.46% APY and Forbright Bank with 5.30% APY and Citizens with 4.50% APY

This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.

$
PRODUCT
BANK
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
BANK TYPE
STATE

All calculations are for demonstration purposes only.

  • 1
    ONLINE CD
    Charles Schwab Bank, SSB
    $50,000
    3 Month
    5.46%
    0.36x (National Avg. - 15.09%)
    $1,000
    Bank
    -
     
    SCENARIO
    Year Rate
    5.46%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,730 1,911
    2 52,730 2,879 2,015
    3 55,609 3,036 2,125
    4 58,645 3,202 2,241
    5 61,847 3,377 2,364
    6 65,224 3,561 2,493
    7 68,785 3,756 2,629
    8 72,541 3,961 2,773
    9 76,502 4,177 2,924
    10 80,679 4,405 3,084
    11 85,084 4,646 3,252
    12 89,730 4,899 3,429
    13 94,629 5,167 3,617
    14 99,796 5,449 3,814
    15 105,244 5,746 4,022
    16 110,991 6,060 4,242
    17 117,051 6,391 4,474
    18 123,442 6,740 4,718
    19 130,182 7,108 4,976
    20 137,290 7,496 5,247
    TOTAL $94,786 $66,350
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.30%
    9.65x (National Avg. - 0.55%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319
  • 3
    ONLINE SAVINGS
    Citizens , ★ TOP PICK ★
    $50,000
    N.A.
    4.50%
    8.20x (National Avg. - 0.55%)
    $1
    Online Bank
    -
    SCENARIO
    Year Rate
    4.50%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410