Compare Analysis of Plus with 1.00% 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.

  • 1
    LOCAL CD
    Plus
    $50,000
    12 Month
    1.00%
    1.80x (National Avg. - 0.56%)
    $10,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    1.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 500 350
    2 50,500 504 353
    3 51,004 510 357
    4 51,514 515 360
    5 52,028 520 364
    6 52,548 525 367
    7 53,073 530 371
    8 53,603 535 375
    9 54,139 541 379
    10 54,679 546 382
    11 55,226 552 386
    12 55,777 557 390
    13 56,335 563 394
    14 56,897 568 398
    15 57,466 574 402
    16 58,040 580 406
    17 58,620 586 410
    18 59,205 591 414
    19 59,797 597 418
    20 60,394 603 422
    TOTAL $10,997 $7,698
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.10x (National Avg. - 0.23%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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