Compare Analysis of Minnequa Works with 3.60% APY and First Foundation Bank with 4.00% 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
    Minnequa Works
    $50,000
    60 Month
    3.60%
    3.90x (National Avg. - 0.92%)
    $50,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    3.60%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,799 1,259
    2 51,799 1,864 1,305
    3 53,663 1,931 1,352
    4 55,594 2,000 1,400
    5 57,594 2,072 1,451
    6 59,666 2,147 1,503
    7 61,813 2,224 1,557
    8 64,037 2,304 1,613
    9 66,341 2,387 1,671
    10 68,728 2,473 1,731
    11 71,201 2,562 1,793
    12 73,762 2,654 1,858
    13 76,416 2,749 1,925
    14 79,166 2,848 1,994
    15 82,014 2,951 2,066
    16 84,965 3,057 2,140
    17 88,022 3,167 2,217
    18 91,189 3,281 2,297
    19 94,470 3,399 2,379
    20 97,869 3,521 2,465
    TOTAL $51,391 $35,973
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    4.00%
    17.70x (National Avg. - 0.23%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689