Compare Analysis of Norwood Bank with 5.05% 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 CD$50,0005 Month5.05%N.A.$10,000Online Bank-SCENARIO
Year Rate
5.05%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,525 1,768 2 52,525 2,653 1,857 3 55,178 2,786 1,951 4 57,964 2,927 2,049 5 60,891 3,075 2,153 6 63,966 3,230 2,261 7 67,196 3,393 2,375 8 70,590 3,565 2,495 9 74,155 3,745 2,621 10 77,899 3,934 2,754 11 81,833 4,133 2,893 12 85,966 4,341 3,039 13 90,307 4,561 3,192 14 94,868 4,791 3,354 15 99,659 5,033 3,523 16 104,691 5,287 3,701 17 109,978 5,554 3,888 18 115,532 5,834 4,084 19 121,367 6,129 4,290 20 127,496 6,439 4,507 TOTAL $83,934 $58,754 - 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