Compare Analysis of LCNB National Bank with 0.15% 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.
- 1LOCAL MONEY MARKET$50,000N.A.0.15%0.27x (National Avg. - 0.55%)$25,000Bank-SCENARIO
Year Rate
0.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 75 53 2 50,075 75 53 3 50,150 75 53 4 50,225 75 53 5 50,301 75 53 6 50,376 76 53 7 50,452 76 53 8 50,527 76 53 9 50,603 76 53 10 50,679 76 53 11 50,755 76 53 12 50,831 76 53 13 50,907 76 53 14 50,984 76 54 15 51,060 77 54 16 51,137 77 54 17 51,214 77 54 18 51,290 77 54 19 51,367 77 54 20 51,444 77 54 TOTAL $1,522 $1,065 - 2LOCAL SAVINGS$50,000N.A.5.30%9.65x (National Avg. - 0.55%)$0Bank-SCENARIO
Year Rate
5.30%Annual
InterestAnnual 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 - 3ONLINE SAVINGS$50,000N.A.4.50%8.20x (National Avg. - 0.55%)$1Online Bank-SCENARIO
Year Rate
4.50%Annual
InterestAnnual 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