Compare Analysis of Plus with 1.55% 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$50,00036 Month1.55%2.07x (National Avg. - 0.75%)$100,000Credit Union-SCENARIO
Year Rate
1.55%Annual
InterestAnnual Interest
(After Tax)1 50,000 773 541 2 50,773 784 549 3 51,557 797 558 4 52,353 809 566 5 53,162 821 575 6 53,984 834 584 7 54,818 847 593 8 55,665 860 602 9 56,525 873 611 10 57,398 887 621 11 58,285 901 630 12 59,185 914 640 13 60,100 929 650 14 61,028 943 660 15 61,971 957 670 16 62,929 972 681 17 63,901 987 691 18 64,888 1,003 702 19 65,891 1,018 713 20 66,909 1,034 724 TOTAL $17,942 $12,560 - 2LOCAL SAVINGS$50,000N.A.5.15%22.10x (National Avg. - 0.23%)$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