Compare Analysis of Ally Bank with 4.55% 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$50,0009 Month4.55%N.A.$0Online Bank-SCENARIO
Year Rate
4.55%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,275 1,593 2 52,275 2,379 1,665 3 54,654 2,487 1,741 4 57,140 2,600 1,820 5 59,740 2,718 1,903 6 62,458 2,842 1,989 7 65,300 2,971 2,080 8 68,271 3,106 2,174 9 71,378 3,248 2,273 10 74,625 3,395 2,377 11 78,021 3,550 2,485 12 81,571 3,711 2,598 13 85,282 3,880 2,716 14 89,163 4,057 2,840 15 93,219 4,241 2,969 16 97,461 4,434 3,104 17 101,895 4,636 3,245 18 106,532 4,847 3,393 19 111,379 5,068 3,547 20 116,447 5,298 3,709 TOTAL $71,745 $50,221 - 2LOCAL SAVINGS$50,000N.A.5.15%22.10x (National Avg. - 0.23%)$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