Compare Analysis of Loyal Trust Bank with 1.28% 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 CD$50,00036 Month1.28%1.47x (National Avg. - 0.87%)$1Bank-SCENARIO
Year Rate
1.28%Annual
InterestAnnual Interest
(After Tax)1 50,000 640 448 2 50,640 648 454 3 51,288 656 460 4 51,945 665 465 5 52,610 673 471 6 53,283 682 477 7 53,965 691 484 8 54,656 700 490 9 55,355 709 496 10 56,064 718 502 11 56,782 727 509 12 57,508 736 515 13 58,244 746 522 14 58,990 755 529 15 59,745 765 535 16 60,510 775 542 17 61,284 784 549 18 62,069 794 556 19 62,863 805 563 20 63,668 815 570 TOTAL $14,483 $10,138 - 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