Compare Analysis of Farmers State Bank with 0.44% 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$50,00024 Month0.44%0.46x (National Avg. - 0.95%)$100,000Bank-SCENARIO
Year Rate
0.44%Annual
InterestAnnual Interest
(After Tax)1 50,000 220 154 2 50,220 221 155 3 50,441 222 155 4 50,663 223 156 5 50,886 224 157 6 51,110 225 157 7 51,335 226 158 8 51,560 227 159 9 51,787 228 160 10 52,015 229 160 11 52,244 230 161 12 52,474 231 162 13 52,705 232 162 14 52,937 233 163 15 53,170 234 164 16 53,404 235 164 17 53,639 236 165 18 53,875 237 166 19 54,112 238 167 20 54,350 239 167 TOTAL $4,589 $3,212 - 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