Compare Analysis of The Farmers and Merchants Bank with 0.23% 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$50,00030 Month0.23%N.A.$100,000Bank-SCENARIO
Year Rate
0.23%Annual
InterestAnnual Interest
(After Tax)1 50,000 115 81 2 50,115 115 81 3 50,230 116 81 4 50,346 116 81 5 50,462 116 81 6 50,578 116 81 7 50,694 117 82 8 50,811 117 82 9 50,927 117 82 10 51,045 117 82 11 51,162 118 82 12 51,280 118 83 13 51,398 118 83 14 51,516 118 83 15 51,634 119 83 16 51,753 119 83 17 51,872 119 84 18 51,991 120 84 19 52,111 120 84 20 52,231 120 84 TOTAL $2,351 $1,646 - 2LOCAL SAVINGS$50,000N.A.5.15%22.01x (National Avg. - 0.23%)$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