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.

  • 1
    LOCAL SAVINGS
    $50,000
    N.A.
    4.90%
    23.44x (National Avg. - 0.21%)
    $1,000
    Bank
    -
     
    SCENARIO
    Year Rate
    4.90%
    Annual
    Interest
    Annual 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
  • 2
    LOCAL SAVINGS
    $50,000
    N.A.
    5.10%
    24.40x (National Avg. - 0.21%)
    $0
    Online Bank
    -
    SCENARIO
    Year Rate
    5.10%
    Annual
    Interest
    Annual 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