Compare Analysis of Department Of Commerce with 4.87% 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.
- 1ONLINE CD$50,0006 Month4.87%7.11x (National Avg. - 0.69%)$500Credit Union-SCENARIO
Year Rate
4.87%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,435 1,705 2 52,435 2,554 1,788 3 54,989 2,678 1,875 4 57,667 2,808 1,966 5 60,475 2,945 2,062 6 63,420 3,089 2,162 7 66,509 3,239 2,267 8 69,748 3,397 2,378 9 73,144 3,562 2,493 10 76,706 3,736 2,615 11 80,442 3,918 2,742 12 84,359 4,108 2,876 13 88,468 4,308 3,016 14 92,776 4,518 3,163 15 97,294 4,738 3,317 16 102,033 4,969 3,478 17 107,002 5,211 3,648 18 112,213 5,465 3,825 19 117,677 5,731 4,012 20 123,408 6,010 4,207 TOTAL $79,418 $55,593 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$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