Compare Analysis of InsBank with 3.11% 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$50,00018 Month3.11%4.30x (National Avg. - 0.72%)$2,500Bank-SCENARIO
Year Rate
3.11%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,555 1,089 2 51,555 1,603 1,122 3 53,158 1,653 1,157 4 54,812 1,705 1,193 5 56,516 1,758 1,230 6 58,274 1,812 1,269 7 60,086 1,869 1,308 8 61,955 1,927 1,349 9 63,882 1,987 1,391 10 65,868 2,049 1,434 11 67,917 2,112 1,479 12 70,029 2,178 1,525 13 72,207 2,246 1,572 14 74,453 2,315 1,621 15 76,768 2,387 1,671 16 79,156 2,462 1,723 17 81,617 2,538 1,777 18 84,156 2,617 1,832 19 86,773 2,699 1,889 20 89,472 2,783 1,948 TOTAL $42,254 $29,578 - 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