Compare Analysis of Legacy Bank with 0.51% APY and First Foundation Bank with 4.00% 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."

  • 1
    LOCAL CD
    Legacy Bank
    $50,000
    24 Month
    0.51%
    0.78x (National Avg. - 0.66%)
    $500
    Bank
    -
     
    SCENARIO
    Year Rate
    0.51%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 256 179
    2 50,256 257 180
    3 50,512 258 181
    4 50,770 259 182
    5 51,030 261 183
    6 51,291 262 183
    7 51,553 263 184
    8 51,816 265 185
    9 52,081 266 186
    10 52,347 267 187
    11 52,615 269 188
    12 52,883 270 189
    13 53,154 272 190
    14 53,425 273 191
    15 53,698 274 192
    16 53,973 276 193
    17 54,248 277 194
    18 54,526 279 195
    19 54,804 280 196
    20 55,084 281 197
    TOTAL $5,366 $3,756
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    4.00%
    17.70x (National Avg. - 0.23%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689