Compare Analysis of Monesty, a division of American Commerce Bank of Georgia with 2.48% 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.
- 1ONLINE MONEY MARKET$50,000N.A.2.48%11.53x (National Avg. - 0.22%)$25,000Online Bank-SCENARIO
Year Rate
2.48%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,240 868 2 51,240 1,271 890 3 52,511 1,302 912 4 53,813 1,335 934 5 55,148 1,368 957 6 56,515 1,402 981 7 57,917 1,436 1,005 8 59,353 1,472 1,030 9 60,825 1,508 1,056 10 62,334 1,546 1,082 11 63,879 1,584 1,109 12 65,464 1,623 1,136 13 67,087 1,664 1,165 14 68,751 1,705 1,194 15 70,456 1,747 1,223 16 72,203 1,791 1,253 17 73,994 1,835 1,285 18 75,829 1,881 1,316 19 77,709 1,927 1,349 20 79,637 1,975 1,382 TOTAL $31,612 $22,128 - 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