Compare Analysis of Kelly Community with 1.31% 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 Month1.31%1.50x (National Avg. - 0.87%)$100,000Credit Union-SCENARIO
Year Rate
1.31%Annual
InterestAnnual Interest
(After Tax)1 50,000 654 458 2 50,654 663 464 3 51,317 671 470 4 51,988 680 476 5 52,668 689 482 6 53,357 698 489 7 54,055 707 495 8 54,762 716 501 9 55,478 726 508 10 56,204 735 515 11 56,939 745 521 12 57,683 754 528 13 58,438 764 535 14 59,202 774 542 15 59,977 784 549 16 60,761 795 556 17 61,556 805 564 18 62,361 816 571 19 63,177 826 578 20 64,003 837 586 TOTAL $14,840 $10,388 - 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