Compare Analysis of Amistad Bank with 0.55% 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.
- 1LOCAL CD$50,00024 Month0.55%0.58x (National Avg. - 0.95%)$10,000Bank-SCENARIO
Year Rate
0.55%Annual
InterestAnnual Interest
(After Tax)1 50,000 275 193 2 50,275 277 194 3 50,552 278 195 4 50,830 280 196 5 51,109 281 197 6 51,390 283 198 7 51,673 284 199 8 51,957 286 200 9 52,243 287 201 10 52,530 289 202 11 52,819 291 203 12 53,110 292 204 13 53,402 294 206 14 53,695 295 207 15 53,991 297 208 16 54,288 299 209 17 54,586 300 210 18 54,886 302 211 19 55,188 304 212 20 55,492 305 214 TOTAL $5,797 $4,058 - 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