Compare Analysis of Popular Bank with 0.15% APY and Discover Bank with 4.35% APY and North American Savings Bank, F.S.B. with 5.35% 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 MONEY MARKET$50,000N.A.0.15%0.82x (National Avg. - 0.18%)$25,000Bank-SCENARIO
Year Rate
0.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 75 53 2 50,075 75 53 3 50,150 75 53 4 50,225 75 53 5 50,301 75 53 6 50,376 76 53 7 50,452 76 53 8 50,527 76 53 9 50,603 76 53 10 50,679 76 53 11 50,755 76 53 12 50,831 76 53 13 50,907 76 53 14 50,984 76 54 15 51,060 77 54 16 51,137 77 54 17 51,214 77 54 18 51,290 77 54 19 51,367 77 54 20 51,444 77 54 TOTAL $1,522 $1,065 - 2ONLINE SAVINGS$50,000N.A.4.35%23.90x (National Avg. - 0.18%)$0Online Bank-SCENARIO
Year Rate
4.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,175 1,523 2 52,175 2,270 1,589 3 54,445 2,368 1,658 4 56,813 2,471 1,730 5 59,284 2,579 1,805 6 61,863 2,691 1,884 7 64,554 2,808 1,966 8 67,362 2,930 2,051 9 70,293 3,058 2,140 10 73,350 3,191 2,234 11 76,541 3,330 2,331 12 79,871 3,474 2,432 13 83,345 3,626 2,538 14 86,970 3,783 2,648 15 90,754 3,948 2,763 16 94,701 4,120 2,884 17 98,821 4,299 3,009 18 103,120 4,486 3,140 19 107,605 4,681 3,277 20 112,286 4,884 3,419 TOTAL $67,171 $47,019 - 3LOCAL SAVINGS$50,000N.A.5.35%29.40x (National Avg. - 0.18%)$25,000Bank-SCENARIO
Year Rate
5.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,675 1,873 2 52,675 2,818 1,973 3 55,493 2,969 2,078 4 58,462 3,128 2,189 5 61,590 3,295 2,307 6 64,885 3,471 2,430 7 68,356 3,657 2,560 8 72,013 3,853 2,697 9 75,866 4,059 2,841 10 79,925 4,276 2,993 11 84,201 4,505 3,153 12 88,705 4,746 3,322 13 93,451 5,000 3,500 14 98,451 5,267 3,687 15 103,718 5,549 3,884 16 109,267 5,846 4,092 17 115,113 6,159 4,311 18 121,271 6,488 4,542 19 127,759 6,835 4,785 20 134,594 7,201 5,041 TOTAL $91,795 $64,256