Compare Analysis of GNB Bank with 0.83% 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$50,00036 Month0.83%0.95x (National Avg. - 0.87%)$35,000Bank-SCENARIO
Year Rate
0.83%Annual
InterestAnnual Interest
(After Tax)1 50,000 415 291 2 50,415 418 293 3 50,833 422 295 4 51,255 425 298 5 51,681 429 300 6 52,110 433 303 7 52,542 436 305 8 52,978 440 308 9 53,418 443 310 10 53,861 447 313 11 54,308 451 316 12 54,759 455 318 13 55,214 458 321 14 55,672 462 323 15 56,134 466 326 16 56,600 470 329 17 57,070 474 332 18 57,543 478 334 19 58,021 482 337 20 58,503 486 340 TOTAL $8,988 $6,292 - 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