Compare Analysis of Plus with 1.50% 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
    36 Month
    1.50%
    2.00x (National Avg. - 0.75%)
    $10,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    1.50%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 748 523
    2 50,748 759 531
    3 51,506 770 539
    4 52,276 782 547
    5 53,058 793 555
    6 53,851 805 564
    7 54,656 817 572
    8 55,473 829 581
    9 56,302 842 589
    10 57,144 854 598
    11 57,998 867 607
    12 58,866 880 616
    13 59,746 893 625
    14 60,639 907 635
    15 61,545 920 644
    16 62,465 934 654
    17 63,399 948 663
    18 64,347 962 673
    19 65,309 976 683
    20 66,285 991 694
    TOTAL $17,276 $12,094
  • 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