Compare Analysis of Bank of the Sierra with 0.22% 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$50,00012 Month0.22%0.26x (National Avg. - 0.84%)$100,000Bank-SCENARIO
Year Rate
0.22%Annual
InterestAnnual Interest
(After Tax)1 50,000 110 77 2 50,110 110 77 3 50,220 110 77 4 50,331 111 78 5 50,441 111 78 6 50,552 111 78 7 50,664 111 78 8 50,775 112 78 9 50,887 112 78 10 50,999 112 79 11 51,111 112 79 12 51,223 113 79 13 51,336 113 79 14 51,449 113 79 15 51,562 113 79 16 51,676 114 80 17 51,789 114 80 18 51,903 114 80 19 52,017 114 80 20 52,132 115 80 TOTAL $2,247 $1,573 - 2LOCAL SAVINGS$50,000N.A.5.15%22.01x (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