Compare Analysis of FitnessBank, a division of Newton Federal Bank with 0.65% APY and Citi Accelerate with 0.50% 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 SAVINGS$50,000N.A.0.65%5.70x (National Avg. - 0.11%)$100Online Bank-SCENARIO
Year Rate
0.65%Annual
InterestAnnual Interest
(After Tax)1 50,000 325 228 2 50,325 327 229 3 50,652 329 230 4 50,981 331 232 5 51,313 334 233 6 51,646 336 235 7 51,982 338 237 8 52,320 340 238 9 52,660 342 240 10 53,002 345 241 11 53,347 347 243 12 53,693 349 244 13 54,042 351 246 14 54,394 354 247 15 54,747 356 249 16 55,103 358 251 17 55,461 360 252 18 55,822 363 254 19 56,185 365 256 20 56,550 368 257 TOTAL $6,917 $4,842 - 2ONLINE SAVINGS$50,000N.A.0.50%4.39x (National Avg. - 0.11%)$0Online Bank-SCENARIO
Year Rate
0.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 250 175 2 50,250 251 176 3 50,501 253 177 4 50,754 254 178 5 51,008 255 179 6 51,263 256 179 7 51,519 258 180 8 51,776 259 181 9 52,035 260 182 10 52,296 261 183 11 52,557 263 184 12 52,820 264 185 13 53,084 265 186 14 53,349 267 187 15 53,616 268 188 16 53,884 269 189 17 54,154 271 190 18 54,424 272 190 19 54,696 273 191 20 54,970 275 192 TOTAL $5,245 $3,671