Compare Analysis of Department Of Commerce with 1.42% APY and Citizens Access with 1.30% 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
    $50,000
    6 Month
    1.42%
    5.30x (National Avg. - 0.27%)
    $500
    Credit Union
    -
     
    SCENARIO
    Year Rate
    1.42%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 710 497
    2 50,710 720 504
    3 51,430 730 511
    4 52,160 741 518
    5 52,901 751 526
    6 53,652 762 533
    7 54,414 773 541
    8 55,187 784 549
    9 55,970 795 556
    10 56,765 806 564
    11 57,571 818 572
    12 58,389 829 580
    13 59,218 841 589
    14 60,059 853 597
    15 60,912 865 605
    16 61,777 877 614
    17 62,654 890 623
    18 63,544 902 632
    19 64,446 915 641
    20 65,361 928 650
    TOTAL $16,289 $11,402
  • 2
    ONLINE CD
    $50,000
    12 Month
    1.30%
    3.23x (National Avg. - 0.40%)
    $5,000
    Online Bank
    -
     
    SCENARIO
    Year Rate
    1.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 650 455
    2 50,650 658 461
    3 51,308 667 467
    4 51,975 676 473
    5 52,651 684 479
    6 53,336 693 485
    7 54,029 702 492
    8 54,731 712 498
    9 55,443 721 505
    10 56,164 730 511
    11 56,894 740 518
    12 57,633 749 524
    13 58,383 759 531
    14 59,142 769 538
    15 59,910 779 545
    16 60,689 789 552
    17 61,478 799 559
    18 62,277 810 567
    19 63,087 820 574
    20 63,907 831 582
    TOTAL $14,738 $10,317