Compare Analysis of West Texas State Bank with 1.00% 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$50,00060 Month1.00%1.10x (National Avg. - 0.91%)$10,000Bank-SCENARIO
Year Rate
1.00%Annual
InterestAnnual Interest
(After Tax)1 50,000 502 351 2 50,502 507 355 3 51,009 512 358 4 51,521 517 362 5 52,038 522 366 6 52,561 528 369 7 53,089 533 373 8 53,622 538 377 9 54,160 544 381 10 54,704 549 384 11 55,253 555 388 12 55,808 560 392 13 56,368 566 396 14 56,934 572 400 15 57,506 577 404 16 58,083 583 408 17 58,666 589 412 18 59,255 595 416 19 59,850 601 421 20 60,451 607 425 TOTAL $11,058 $7,740 - 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