Compare Analysis of InsBank with 2.38% 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.

  • 1
    ONLINE MONEY MARKET
    InsBank
    $50,000
    N.A.
    2.38%
    10.21x (National Avg. - 0.23%)
    $50,000
    Bank
    -
     
    SCENARIO
    Year Rate
    2.38%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,190 833
    2 51,190 1,218 853
    3 52,408 1,247 873
    4 53,656 1,277 894
    5 54,933 1,307 915
    6 56,240 1,339 937
    7 57,579 1,370 959
    8 58,949 1,403 982
    9 60,352 1,436 1,005
    10 61,788 1,471 1,029
    11 63,259 1,506 1,054
    12 64,764 1,541 1,079
    13 66,306 1,578 1,105
    14 67,884 1,616 1,131
    15 69,500 1,654 1,158
    16 71,154 1,693 1,185
    17 72,847 1,734 1,214
    18 74,581 1,775 1,243
    19 76,356 1,817 1,272
    20 78,173 1,861 1,302
    TOTAL $30,034 $21,024
  • 2
    ONLINE SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.10x (National Avg. - 0.23%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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