Compare Analysis of Logansport Savings Bank with 0.85% 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.

  • 1
    LOCAL CD
    Logansport Savings Bank
    $50,000
    60 Month
    0.85%
    0.93x (National Avg. - 0.91%)
    $100,000
    Bank
    -
     
    SCENARIO
    Year Rate
    0.85%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 426 298
    2 50,426 430 301
    3 50,856 433 303
    4 51,289 437 306
    5 51,726 441 308
    6 52,167 444 311
    7 52,611 448 314
    8 53,059 452 316
    9 53,511 456 319
    10 53,967 460 322
    11 54,427 464 325
    12 54,891 468 327
    13 55,358 472 330
    14 55,830 476 333
    15 56,306 480 336
    16 56,786 484 339
    17 57,269 488 342
    18 57,757 492 344
    19 58,249 496 347
    20 58,746 501 350
    TOTAL $9,246 $6,472
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.01x (National Avg. - 0.23%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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