Compare Analysis of Independent Bank with 3.04% APY and First Foundation Bank with 3.75% 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 MONEY MARKET
    Independent Bank
    $50,000
    N.A.
    3.04%
    6.43x (National Avg. - 0.47%)
    $0
    Bank
    -
     
    SCENARIO
    Year Rate
    3.04%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,520 1,064
    2 51,520 1,566 1,096
    3 53,086 1,614 1,130
    4 54,700 1,663 1,164
    5 56,363 1,713 1,199
    6 58,076 1,766 1,236
    7 59,842 1,819 1,273
    8 61,661 1,874 1,312
    9 63,536 1,931 1,352
    10 65,467 1,990 1,393
    11 67,457 2,051 1,435
    12 69,508 2,113 1,479
    13 71,621 2,177 1,524
    14 73,798 2,243 1,570
    15 76,042 2,312 1,618
    16 78,353 2,382 1,667
    17 80,735 2,454 1,718
    18 83,190 2,529 1,770
    19 85,719 2,606 1,824
    20 88,324 2,685 1,880
    TOTAL $41,010 $28,707
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    7.93x (National Avg. - 0.47%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085