Compare Analysis of Dollar Savings Direct, a division of Emigrant Bank with 5.00% APY and Bask Bank with 5.10% 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 SAVINGS$50,000N.A.5.00%21.83x (National Avg. - 0.23%)$0Online Bank-SCENARIO
Year Rate
5.00%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,500 1,750 2 52,500 2,625 1,838 3 55,125 2,756 1,929 4 57,881 2,894 2,026 5 60,775 3,039 2,127 6 63,814 3,191 2,233 7 67,005 3,350 2,345 8 70,355 3,518 2,462 9 73,873 3,694 2,586 10 77,566 3,878 2,715 11 81,445 4,072 2,851 12 85,517 4,276 2,993 13 89,793 4,490 3,143 14 94,282 4,714 3,300 15 98,997 4,950 3,465 16 103,946 5,197 3,638 17 109,144 5,457 3,820 18 114,601 5,730 4,011 19 120,331 6,017 4,212 20 126,348 6,317 4,422 TOTAL $82,665 $57,865 - 2LOCAL SAVINGS$50,000N.A.5.10%22.27x (National Avg. - 0.23%)$0Online Bank-SCENARIO
Year Rate
5.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,550 1,785 2 52,550 2,680 1,876 3 55,230 2,817 1,972 4 58,047 2,960 2,072 5 61,007 3,111 2,178 6 64,119 3,270 2,289 7 67,389 3,437 2,406 8 70,825 3,612 2,528 9 74,437 3,796 2,657 10 78,234 3,990 2,793 11 82,224 4,193 2,935 12 86,417 4,407 3,085 13 90,824 4,632 3,242 14 95,456 4,868 3,408 15 100,325 5,117 3,582 16 105,441 5,378 3,764 17 110,819 5,652 3,956 18 116,471 5,940 4,158 19 122,411 6,243 4,370 20 128,654 6,561 4,593 TOTAL $85,215 $59,650