Compare Analysis of Lake Shore Savings Bank with 5.05% APY and First Foundation Bank with 3.75% 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
    LOCAL CD
    Lake Shore Savings Bank
    $50,000
    9 Month
    5.05%
    N.A.
    $500
    Bank
    -
     
    SCENARIO
    Year Rate
    5.05%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,525 1,768
    2 52,525 2,653 1,857
    3 55,178 2,786 1,951
    4 57,964 2,927 2,049
    5 60,891 3,075 2,153
    6 63,966 3,230 2,261
    7 67,196 3,393 2,375
    8 70,590 3,565 2,495
    9 74,155 3,745 2,621
    10 77,899 3,934 2,754
    11 81,833 4,133 2,893
    12 85,966 4,341 3,039
    13 90,307 4,561 3,192
    14 94,868 4,791 3,354
    15 99,659 5,033 3,523
    16 104,691 5,287 3,701
    17 109,978 5,554 3,888
    18 115,532 5,834 4,084
    19 121,367 6,129 4,290
    20 127,496 6,439 4,507
    TOTAL $83,934 $58,754
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    16.67x (National Avg. - 0.23%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085