Compare Analysis of Avidia Bank with 3.98% 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$50,00018 Month3.98%5.50x (National Avg. - 0.72%)$1,000Bank-SCENARIO
Year Rate
3.98%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,990 1,393 2 51,990 2,069 1,448 3 54,059 2,152 1,506 4 56,211 2,237 1,566 5 58,448 2,326 1,628 6 60,774 2,419 1,693 7 63,193 2,515 1,761 8 65,708 2,615 1,831 9 68,323 2,719 1,903 10 71,043 2,827 1,979 11 73,870 2,940 2,058 12 76,810 3,057 2,140 13 79,867 3,179 2,225 14 83,046 3,305 2,314 15 86,351 3,437 2,406 16 89,788 3,574 2,501 17 93,361 3,716 2,601 18 97,077 3,864 2,705 19 100,941 4,017 2,812 20 104,958 4,177 2,924 TOTAL $59,136 $41,395 - 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