Compare Analysis of Finworth, a division of InsBank with 2.27% 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.
- 1ONLINE CD$50,0002 Month2.27%N.A.$50,000Online Bank-SCENARIO
Year Rate
2.27%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,135 795 2 51,135 1,161 813 3 52,296 1,187 831 4 53,483 1,214 850 5 54,697 1,242 869 6 55,939 1,270 889 7 57,208 1,299 909 8 58,507 1,328 930 9 59,835 1,358 951 10 61,193 1,389 972 11 62,582 1,421 994 12 64,003 1,453 1,017 13 65,456 1,486 1,040 14 66,942 1,520 1,064 15 68,461 1,554 1,088 16 70,015 1,589 1,113 17 71,605 1,625 1,138 18 73,230 1,662 1,164 19 74,893 1,700 1,190 20 76,593 1,739 1,217 TOTAL $28,331 $19,832 - 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