Compare Analysis of Department Of Commerce with 2.88% 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
    48 Month
    2.88%
    4.14x (National Avg. - 0.70%)
    $500
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.88%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 1,440 1,008
    2 51,440 1,481 1,037
    3 52,921 1,524 1,067
    4 54,446 1,568 1,098
    5 56,014 1,613 1,129
    6 57,627 1,660 1,162
    7 59,286 1,707 1,195
    8 60,994 1,757 1,230
    9 62,751 1,807 1,265
    10 64,558 1,859 1,301
    11 66,417 1,913 1,339
    12 68,330 1,968 1,378
    13 70,298 2,025 1,417
    14 72,322 2,083 1,458
    15 74,405 2,143 1,500
    16 76,548 2,205 1,543
    17 78,753 2,268 1,588
    18 81,021 2,333 1,633
    19 83,354 2,401 1,680
    20 85,755 2,470 1,729
    TOTAL $38,224 $26,757
  • 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