Compare Analysis of Kelly Community with 0.35% 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 MONEY MARKET$50,000N.A.0.35%1.63x (National Avg. - 0.22%)$10,000Credit Union-SCENARIO
Year Rate
0.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 176 123 2 50,176 176 123 3 50,352 177 124 4 50,528 177 124 5 50,706 178 125 6 50,884 179 125 7 51,062 179 125 8 51,242 180 126 9 51,421 180 126 10 51,602 181 127 11 51,783 182 127 12 51,965 182 128 13 52,147 183 128 14 52,330 184 129 15 52,514 184 129 16 52,698 185 129 17 52,883 186 130 18 53,069 186 130 19 53,255 187 131 20 53,442 188 131 TOTAL $3,630 $2,541 - 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