Compare Analysis of First Foundation Bank with 4.90% APY and Bask Bank with 5.10% 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 SAVINGS$50,000N.A.4.90%23.44x (National Avg. - 0.21%)$1,000Bank-SCENARIO
Year Rate
4.90%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,450 1,715 2 52,450 2,570 1,799 3 55,020 2,696 1,887 4 57,716 2,828 1,980 5 60,544 2,967 2,077 6 63,511 3,112 2,178 7 66,623 3,265 2,285 8 69,887 3,424 2,397 9 73,312 3,592 2,515 10 76,904 3,768 2,638 11 80,672 3,953 2,767 12 84,625 4,147 2,903 13 88,772 4,350 3,045 14 93,122 4,563 3,194 15 97,685 4,787 3,351 16 102,471 5,021 3,515 17 107,492 5,267 3,687 18 112,760 5,525 3,868 19 118,285 5,796 4,057 20 124,081 6,080 4,256 TOTAL $80,161 $56,112 - 2LOCAL SAVINGS$50,000N.A.5.10%24.40x (National Avg. - 0.21%)$0Online Bank-SCENARIO
Year Rate
5.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,550 1,785 2 52,550 2,680 1,876 3 55,230 2,817 1,972 4 58,047 2,960 2,072 5 61,007 3,111 2,178 6 64,119 3,270 2,289 7 67,389 3,437 2,406 8 70,825 3,612 2,528 9 74,437 3,796 2,657 10 78,234 3,990 2,793 11 82,224 4,193 2,935 12 86,417 4,407 3,085 13 90,824 4,632 3,242 14 95,456 4,868 3,408 15 100,325 5,117 3,582 16 105,441 5,378 3,764 17 110,819 5,652 3,956 18 116,471 5,940 4,158 19 122,411 6,243 4,370 20 128,654 6,561 4,593 TOTAL $85,215 $59,650