Compare Analysis of Alamerica Bank with 0.66% APY and Forbright Bank with 5.15% 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 CD$50,00012 Month0.66%0.79x (National Avg. - 0.84%)$100,000Bank-SCENARIO
Year Rate
0.66%Annual
InterestAnnual Interest
(After Tax)1 50,000 330 231 2 50,330 332 233 3 50,662 334 234 4 50,997 337 236 5 51,333 339 237 6 51,672 341 239 7 52,013 343 240 8 52,356 346 242 9 52,702 348 243 10 53,050 350 245 11 53,400 352 247 12 53,752 355 248 13 54,107 357 250 14 54,464 359 252 15 54,824 362 253 16 55,185 364 255 17 55,550 367 257 18 55,916 369 258 19 56,285 371 260 20 56,657 374 262 TOTAL $7,031 $4,921 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$0Bank-SCENARIO
Year Rate
5.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,575 1,803 2 52,575 2,708 1,895 3 55,283 2,847 1,993 4 58,130 2,994 2,096 5 61,123 3,148 2,203 6 64,271 3,310 2,317 7 67,581 3,480 2,436 8 71,062 3,660 2,562 9 74,721 3,848 2,694 10 78,569 4,046 2,832 11 82,616 4,255 2,978 12 86,870 4,474 3,132 13 91,344 4,704 3,293 14 96,049 4,946 3,463 15 100,995 5,201 3,641 16 106,196 5,469 3,828 17 111,665 5,751 4,026 18 117,416 6,047 4,233 19 123,463 6,358 4,451 20 129,821 6,686 4,680 TOTAL $86,507 $60,555