Compare Analysis of Goldman Sachs Bank with 4.80% 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$50,0006 Month4.80%7.01x (National Avg. - 0.69%)$500Online Bank-SCENARIO
Year Rate
4.80%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,400 1,680 2 52,400 2,515 1,761 3 54,915 2,636 1,845 4 57,551 2,762 1,934 5 60,314 2,895 2,027 6 63,209 3,034 2,124 7 66,243 3,180 2,226 8 69,422 3,332 2,333 9 72,755 3,492 2,445 10 76,247 3,660 2,562 11 79,907 3,836 2,685 12 83,742 4,020 2,814 13 87,762 4,213 2,949 14 91,974 4,415 3,090 15 96,389 4,627 3,239 16 101,016 4,849 3,394 17 105,865 5,081 3,557 18 110,946 5,325 3,728 19 116,271 5,581 3,907 20 121,852 5,849 4,094 TOTAL $77,701 $54,391 - 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