Compare Analysis of Goldman Sachs Bank with 4.15% 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.
- 1ONLINE CD$50,00036 Month4.15%4.76x (National Avg. - 0.87%)$500Online Bank-SCENARIO
Year Rate
4.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,075 1,453 2 52,075 2,161 1,513 3 54,236 2,251 1,576 4 56,487 2,344 1,641 5 58,831 2,441 1,709 6 61,273 2,543 1,780 7 63,815 2,648 1,854 8 66,464 2,758 1,931 9 69,222 2,873 2,011 10 72,095 2,992 2,094 11 75,087 3,116 2,181 12 78,203 3,245 2,272 13 81,448 3,380 2,366 14 84,828 3,520 2,464 15 88,349 3,666 2,567 16 92,015 3,819 2,673 17 95,834 3,977 2,784 18 99,811 4,142 2,900 19 103,953 4,314 3,020 20 108,267 4,493 3,145 TOTAL $62,760 $43,932 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$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