Compare Analysis of Goldman Sachs Bank with 4.90% 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$50,0009 Month4.90%N.A.$500Online Bank-SCENARIO
Year Rate
4.90%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,450 1,715 2 52,450 2,570 1,799 3 55,020 2,696 1,887 4 57,716 2,828 1,980 5 60,544 2,967 2,077 6 63,511 3,112 2,178 7 66,623 3,265 2,285 8 69,887 3,424 2,397 9 73,312 3,592 2,515 10 76,904 3,768 2,638 11 80,672 3,953 2,767 12 84,625 4,147 2,903 13 88,772 4,350 3,045 14 93,122 4,563 3,194 15 97,685 4,787 3,351 16 102,471 5,021 3,515 17 107,492 5,267 3,687 18 112,760 5,525 3,868 19 118,285 5,796 4,057 20 124,081 6,080 4,256 TOTAL $80,161 $56,112 - 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