Compare Analysis of GNB Bank with 0.16% 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 MONEY MARKET$50,000N.A.0.16%0.68x (National Avg. - 0.23%)$10,000Bank-SCENARIO
Year Rate
0.16%Annual
InterestAnnual Interest
(After Tax)1 50,000 80 56 2 50,080 80 56 3 50,160 80 56 4 50,240 80 56 5 50,321 81 56 6 50,401 81 56 7 50,482 81 57 8 50,563 81 57 9 50,644 81 57 10 50,725 81 57 11 50,806 81 57 12 50,887 81 57 13 50,968 82 57 14 51,050 82 57 15 51,132 82 57 16 51,214 82 57 17 51,295 82 57 18 51,378 82 58 19 51,460 82 58 20 51,542 82 58 TOTAL $1,625 $1,137 - 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