Compare Analysis of Finworth, a division of InsBank with 5.38% 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$50,00012 Month5.38%6.42x (National Avg. - 0.84%)$50,000Online Bank-SCENARIO
Year Rate
5.38%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,690 1,883 2 52,690 2,835 1,984 3 55,525 2,987 2,091 4 58,512 3,148 2,204 5 61,660 3,317 2,322 6 64,977 3,496 2,447 7 68,473 3,684 2,579 8 72,157 3,882 2,717 9 76,039 4,091 2,864 10 80,130 4,311 3,018 11 84,441 4,543 3,180 12 88,984 4,787 3,351 13 93,771 5,045 3,531 14 98,816 5,316 3,721 15 104,132 5,602 3,922 16 109,734 5,904 4,133 17 115,638 6,221 4,355 18 121,859 6,556 4,589 19 128,416 6,909 4,836 20 135,324 7,280 5,096 TOTAL $92,605 $64,823 - 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