Compare Analysis of Midwest Community with 1.36% 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$50,00048 Month1.36%1.43x (National Avg. - 0.95%)$100,000Credit Union-SCENARIO
Year Rate
1.36%Annual
InterestAnnual Interest
(After Tax)1 50,000 680 476 2 50,680 689 482 3 51,369 699 489 4 52,068 708 496 5 52,776 718 502 6 53,494 728 509 7 54,221 737 516 8 54,959 747 523 9 55,706 758 530 10 56,464 768 538 11 57,232 778 545 12 58,010 789 552 13 58,799 800 560 14 59,599 811 567 15 60,409 822 575 16 61,231 833 583 17 62,063 844 591 18 62,907 856 599 19 63,763 867 607 20 64,630 879 615 TOTAL $15,509 $10,856 - 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