Compare Analysis of Plus with 1.30% 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
    24 Month
    1.30%
    1.98x (National Avg. - 0.66%)
    $100,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    1.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 649 454
    2 50,649 657 460
    3 51,305 665 466
    4 51,971 674 472
    5 52,645 683 478
    6 53,328 692 484
    7 54,019 701 490
    8 54,720 710 497
    9 55,430 719 503
    10 56,149 728 510
    11 56,877 738 516
    12 57,615 747 523
    13 58,362 757 530
    14 59,119 767 537
    15 59,886 777 544
    16 60,662 787 551
    17 61,449 797 558
    18 62,246 807 565
    19 63,053 818 572
    20 63,871 828 580
    TOTAL $14,700 $10,290
  • 2
    ONLINE 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