Compare Analysis of Minnequa Works with 3.55% 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
    3.55%
    3.84x (National Avg. - 0.92%)
    $2,500
    Credit Union
    -
     
    SCENARIO
    Year Rate
    3.55%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,773 1,241
    2 51,773 1,836 1,285
    3 53,609 1,901 1,331
    4 55,510 1,968 1,378
    5 57,478 2,038 1,427
    6 59,516 2,110 1,477
    7 61,627 2,185 1,530
    8 63,812 2,263 1,584
    9 66,075 2,343 1,640
    10 68,418 2,426 1,698
    11 70,844 2,512 1,758
    12 73,356 2,601 1,821
    13 75,957 2,693 1,885
    14 78,651 2,789 1,952
    15 81,440 2,888 2,021
    16 84,328 2,990 2,093
    17 87,318 3,096 2,167
    18 90,414 3,206 2,244
    19 93,620 3,320 2,324
    20 96,940 3,437 2,406
    TOTAL $50,378 $35,264
  • 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