Compare Analysis of Hometown Community Bank with 1.45% 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 Month1.45%1.94x (National Avg. - 0.75%)$100,000Bank-SCENARIO
Year Rate
1.45%Annual
InterestAnnual Interest
(After Tax)1 50,000 725 508 2 50,725 736 515 3 51,461 746 522 4 52,207 757 530 5 52,964 768 538 6 53,732 779 545 7 54,511 790 553 8 55,301 802 561 9 56,103 813 569 10 56,917 825 578 11 57,742 837 586 12 58,579 849 595 13 59,428 862 603 14 60,290 874 612 15 61,164 887 621 16 62,051 900 630 17 62,951 913 639 18 63,864 926 648 19 64,790 939 658 20 65,729 953 667 TOTAL $16,682 $11,678 - 2LOCAL SAVINGS$50,000N.A.5.15%22.10x (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