Compare Analysis of Allegacy with 3.55% 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.
- 1ONLINE CD$50,00024 Month3.55%3.75x (National Avg. - 0.95%)$1,000Credit Union-SCENARIO
Year Rate
3.55%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,775 1,243 2 51,775 1,838 1,287 3 53,613 1,903 1,332 4 55,516 1,971 1,380 5 57,487 2,041 1,429 6 59,528 2,113 1,479 7 61,641 2,188 1,532 8 63,829 2,266 1,586 9 66,095 2,346 1,642 10 68,442 2,430 1,701 11 70,871 2,516 1,761 12 73,387 2,605 1,824 13 75,993 2,698 1,888 14 78,690 2,794 1,955 15 81,484 2,893 2,025 16 84,377 2,995 2,097 17 87,372 3,102 2,171 18 90,474 3,212 2,248 19 93,685 3,326 2,328 20 97,011 3,444 2,411 TOTAL $50,455 $35,319 - 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