Compare Analysis of Live Oak Banking Company with 4.40% APY and Bask Bank with 5.10% 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 SAVINGS$50,000N.A.4.40%19.21x (National Avg. - 0.23%)$0Bank-SCENARIO
Year Rate
4.40%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,200 1,540 2 52,200 2,297 1,608 3 54,497 2,398 1,679 4 56,895 2,503 1,752 5 59,398 2,614 1,829 6 62,012 2,729 1,910 7 64,740 2,849 1,994 8 67,589 2,974 2,082 9 70,563 3,105 2,173 10 73,667 3,241 2,269 11 76,909 3,384 2,369 12 80,293 3,533 2,473 13 83,825 3,688 2,582 14 87,514 3,851 2,695 15 91,364 4,020 2,814 16 95,384 4,197 2,938 17 99,581 4,382 3,067 18 103,963 4,574 3,202 19 108,537 4,776 3,343 20 113,313 4,986 3,490 TOTAL $68,299 $47,809 - 2LOCAL SAVINGS$50,000N.A.5.10%22.27x (National Avg. - 0.23%)$0Online Bank-SCENARIO
Year Rate
5.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,550 1,785 2 52,550 2,680 1,876 3 55,230 2,817 1,972 4 58,047 2,960 2,072 5 61,007 3,111 2,178 6 64,119 3,270 2,289 7 67,389 3,437 2,406 8 70,825 3,612 2,528 9 74,437 3,796 2,657 10 78,234 3,990 2,793 11 82,224 4,193 2,935 12 86,417 4,407 3,085 13 90,824 4,632 3,242 14 95,456 4,868 3,408 15 100,325 5,117 3,582 16 105,441 5,378 3,764 17 110,819 5,652 3,956 18 116,471 5,940 4,158 19 122,411 6,243 4,370 20 128,654 6,561 4,593 TOTAL $85,215 $59,650