Compare Analysis of First State Bank of Swanville with 1.20% 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.
- 1LOCAL CD$50,00060 Month1.20%1.31x (National Avg. - 0.91%)$10,000Bank-SCENARIO
Year Rate
1.20%Annual
InterestAnnual Interest
(After Tax)1 50,000 600 420 2 50,600 607 425 3 51,207 614 430 4 51,822 622 435 5 52,444 629 441 6 53,073 637 446 7 53,710 645 451 8 54,354 652 457 9 55,007 660 462 10 55,667 668 468 11 56,335 676 473 12 57,011 684 479 13 57,695 692 485 14 58,387 701 490 15 59,088 709 496 16 59,797 718 502 17 60,514 726 508 18 61,240 735 514 19 61,975 744 521 20 62,719 753 527 TOTAL $13,472 $9,430 - 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