Compare Analysis of InsBank with 2.52% 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 Month2.52%6.32x (National Avg. - 0.40%)$50,000Bank-SCENARIO
Year Rate
2.52%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,260 882 2 51,260 1,292 904 3 52,552 1,324 927 4 53,876 1,358 950 5 55,234 1,392 974 6 56,626 1,427 999 7 58,053 1,463 1,024 8 59,516 1,500 1,050 9 61,015 1,538 1,076 10 62,553 1,576 1,103 11 64,129 1,616 1,131 12 65,745 1,657 1,160 13 67,402 1,699 1,189 14 69,101 1,741 1,219 15 70,842 1,785 1,250 16 72,627 1,830 1,281 17 74,457 1,876 1,313 18 76,334 1,924 1,347 19 78,257 1,972 1,380 20 80,229 2,022 1,415 TOTAL $32,251 $22,576 - 2ONLINE 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