Compare Analysis of Equity Bank with 0.05% APY and Discover Bank with 4.35% APY and North American Savings Bank, F.S.B. with 5.35% 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
    LOCAL SAVINGS
    Equity Bank
    $50,000
    N.A.
    0.05%
    0.27x (National Avg. - 0.18%)
    $1
    Bank
    -
     
    SCENARIO
    Year Rate
    0.05%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 25 18
    2 50,025 25 18
    3 50,050 25 18
    4 50,075 25 18
    5 50,100 25 18
    6 50,125 25 18
    7 50,150 25 18
    8 50,175 25 18
    9 50,200 25 18
    10 50,225 25 18
    11 50,251 25 18
    12 50,276 25 18
    13 50,301 25 18
    14 50,326 25 18
    15 50,351 25 18
    16 50,376 25 18
    17 50,402 25 18
    18 50,427 25 18
    19 50,452 25 18
    20 50,477 25 18
    TOTAL $502 $352
  • 2
    ONLINE SAVINGS
    Discover Bank , ★ TOP PICK ★
    $50,000
    N.A.
    4.35%
    23.90x (National Avg. - 0.18%)
    $0
    Online Bank
    -
    SCENARIO
    Year Rate
    4.35%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,175 1,523
    2 52,175 2,270 1,589
    3 54,445 2,368 1,658
    4 56,813 2,471 1,730
    5 59,284 2,579 1,805
    6 61,863 2,691 1,884
    7 64,554 2,808 1,966
    8 67,362 2,930 2,051
    9 70,293 3,058 2,140
    10 73,350 3,191 2,234
    11 76,541 3,330 2,331
    12 79,871 3,474 2,432
    13 83,345 3,626 2,538
    14 86,970 3,783 2,648
    15 90,754 3,948 2,763
    16 94,701 4,120 2,884
    17 98,821 4,299 3,009
    18 103,120 4,486 3,140
    19 107,605 4,681 3,277
    20 112,286 4,884 3,419
    TOTAL $67,171 $47,019
  • 3
    LOCAL SAVINGS
    North American Savings Bank, F.S.B. , ★ TOP PICK ★
    $50,000
    N.A.
    5.35%
    29.40x (National Avg. - 0.18%)
    $25,000
    Bank
    -
    SCENARIO
    Year Rate
    5.35%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256