Compare Analysis of Central Credit Union Of Maryland,in with 0.80% 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$50,00036 Month0.80%0.92x (National Avg. - 0.87%)$10,000Credit Union-SCENARIO
Year Rate
0.80%Annual
InterestAnnual Interest
(After Tax)1 50,000 402 281 2 50,402 405 283 3 50,806 408 286 4 51,214 411 288 5 51,625 415 290 6 52,040 418 293 7 52,458 421 295 8 52,879 425 297 9 53,304 428 300 10 53,732 431 302 11 54,163 435 304 12 54,598 438 307 13 55,037 442 309 14 55,479 445 312 15 55,924 449 314 16 56,373 453 317 17 56,826 456 319 18 57,282 460 322 19 57,742 464 325 20 58,206 467 327 TOTAL $8,673 $6,071 - 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