Compare Analysis of Kemba Charleston with 0.14% 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.0.14%0.65x (National Avg. - 0.22%)$10,000Credit Union-SCENARIO
Year Rate
0.14%Annual
InterestAnnual Interest
(After Tax)1 50,000 70 49 2 50,070 70 49 3 50,140 70 49 4 50,210 70 49 5 50,281 70 49 6 50,351 70 49 7 50,421 71 49 8 50,492 71 49 9 50,563 71 50 10 50,634 71 50 11 50,704 71 50 12 50,775 71 50 13 50,846 71 50 14 50,918 71 50 15 50,989 71 50 16 51,060 71 50 17 51,132 72 50 18 51,203 72 50 19 51,275 72 50 20 51,347 72 50 TOTAL $1,419 $993 - 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