Compare Analysis of Cambridge Savings Bank with 0.15% APY and Citizens Access with 1.25% APY and Ivy Bank with 1.50% 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%1.28x (National Avg. - 0.12%)$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.1.25%10.68x (National Avg. - 0.12%)$5,000Online Bank-SCENARIO
Year Rate
1.25%Annual
InterestAnnual Interest
(After Tax)1 50,000 625 438 2 50,625 633 443 3 51,258 641 449 4 51,899 649 454 5 52,547 657 460 6 53,204 665 466 7 53,869 673 471 8 54,543 682 477 9 55,224 690 483 10 55,915 699 489 11 56,614 708 495 12 57,321 717 502 13 58,038 725 508 14 58,763 735 514 15 59,498 744 521 16 60,241 753 527 17 60,994 762 534 18 61,757 772 540 19 62,529 782 547 20 63,310 791 554 TOTAL $14,102 $9,871 - 3ONLINE SAVINGS$50,000N.A.1.50%12.82x (National Avg. - 0.12%)$2,500Online Bank-SCENARIO
Year Rate
1.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 750 525 2 50,750 761 533 3 51,511 773 541 4 52,284 784 549 5 53,068 796 557 6 53,864 808 566 7 54,672 820 574 8 55,492 832 583 9 56,325 845 591 10 57,169 858 600 11 58,027 870 609 12 58,897 883 618 13 59,781 897 628 14 60,678 910 637 15 61,588 924 647 16 62,512 938 656 17 63,449 952 666 18 64,401 966 676 19 65,367 981 686 20 66,348 995 697 TOTAL $17,343 $12,140