Compare Analysis of First Internet Bank of Indiana with 5.48% APY and North American Savings Bank with 5.30% 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
    ONLINE MONEY MARKET
    $50,000
    N.A.
    5.48%
    11.63x (National Avg. - 0.47%)
    $1,000,000
    Bank
    -
     
    SCENARIO
    Year Rate
    5.48%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,740 1,918
    2 52,740 2,890 2,023
    3 55,630 3,049 2,134
    4 58,679 3,216 2,251
    5 61,894 3,392 2,374
    6 65,286 3,578 2,504
    7 68,864 3,774 2,642
    8 72,637 3,981 2,786
    9 76,618 4,199 2,939
    10 80,817 4,429 3,100
    11 85,245 4,671 3,270
    12 89,917 4,927 3,449
    13 94,844 5,197 3,638
    14 100,042 5,482 3,838
    15 105,524 5,783 4,048
    16 111,307 6,100 4,270
    17 117,406 6,434 4,504
    18 123,840 6,786 4,751
    19 130,627 7,158 5,011
    20 137,785 7,551 5,285
    TOTAL $95,336 $66,735
  • 2
    LOCAL SAVINGS
    $50,000
    N.A.
    5.30%
    11.25x (National Avg. - 0.47%)
    $10,000
    Bank
    -
    SCENARIO
    Year Rate
    5.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319