Compare Analysis of Climate First Bank with 5.34% 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.

  • 1
    ONLINE CD
    Climate First Bank
    $50,000
    6 Month
    5.34%
    7.78x (National Avg. - 0.69%)
    $500
    Bank
    -
     
    SCENARIO
    Year Rate
    5.34%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,670 1,869
    2 52,670 2,813 1,969
    3 55,483 2,963 2,074
    4 58,445 3,121 2,185
    5 61,566 3,288 2,301
    6 64,854 3,463 2,424
    7 68,317 3,648 2,554
    8 71,965 3,843 2,690
    9 75,808 4,048 2,834
    10 79,856 4,264 2,985
    11 84,121 4,492 3,144
    12 88,613 4,732 3,312
    13 93,345 4,985 3,489
    14 98,329 5,251 3,676
    15 103,580 5,531 3,872
    16 109,111 5,827 4,079
    17 114,938 6,138 4,296
    18 121,076 6,465 4,526
    19 127,541 6,811 4,767
    20 134,352 7,174 5,022
    TOTAL $91,526 $64,068
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.01x (National Avg. - 0.23%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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