Compare Analysis of Phenix Pride with 0.40% 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.
- 1LOCAL CD$50,0006 Month0.40%0.59x (National Avg. - 0.69%)$10,000Credit Union-SCENARIO
Year Rate
0.40%Annual
InterestAnnual Interest
(After Tax)1 50,000 201 140 2 50,201 201 141 3 50,402 202 141 4 50,604 203 142 5 50,807 204 143 6 51,011 205 143 7 51,215 205 144 8 51,420 206 144 9 51,627 207 145 10 51,834 208 145 11 52,042 209 146 12 52,250 210 147 13 52,460 210 147 14 52,670 211 148 15 52,881 212 148 16 53,093 213 149 17 53,306 214 150 18 53,520 215 150 19 53,735 215 151 20 53,950 216 151 TOTAL $4,166 $2,917 - 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