Compare Analysis of Prime Alliance Bank with 4.50% APY and Bask Bank with 5.10% APY and SoFi Bank with 4.60% 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
    ONLINE SAVINGS
    $50,000
    N.A.
    4.50%
    21.53x (National Avg. - 0.21%)
    $0
    Bank
    -
     
    SCENARIO
    Year Rate
    4.50%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410
  • 2
    LOCAL SAVINGS
    $50,000
    N.A.
    5.10%
    24.40x (National Avg. - 0.21%)
    $0
    Online Bank
    -
    SCENARIO
    Year Rate
    5.10%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,550 1,785
    2 52,550 2,680 1,876
    3 55,230 2,817 1,972
    4 58,047 2,960 2,072
    5 61,007 3,111 2,178
    6 64,119 3,270 2,289
    7 67,389 3,437 2,406
    8 70,825 3,612 2,528
    9 74,437 3,796 2,657
    10 78,234 3,990 2,793
    11 82,224 4,193 2,935
    12 86,417 4,407 3,085
    13 90,824 4,632 3,242
    14 95,456 4,868 3,408
    15 100,325 5,117 3,582
    16 105,441 5,378 3,764
    17 110,819 5,652 3,956
    18 116,471 5,940 4,158
    19 122,411 6,243 4,370
    20 128,654 6,561 4,593
    TOTAL $85,215 $59,650
  • 3
    ONLINE SAVINGS
    $50,000
    N.A.
    4.60%
    22.01x (National Avg. - 0.21%)
    $0
    Online Bank
    -
    SCENARIO
    Year Rate
    4.60%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,300 1,610
    2 52,300 2,406 1,684
    3 54,706 2,516 1,762
    4 57,222 2,632 1,843
    5 59,854 2,753 1,927
    6 62,608 2,880 2,016
    7 65,488 3,012 2,109
    8 68,500 3,151 2,206
    9 71,651 3,296 2,307
    10 74,947 3,448 2,413
    11 78,395 3,606 2,524
    12 82,001 3,772 2,640
    13 85,773 3,946 2,762
    14 89,718 4,127 2,889
    15 93,846 4,317 3,022
    16 98,162 4,515 3,161
    17 102,678 4,723 3,306
    18 107,401 4,940 3,458
    19 112,342 5,168 3,617
    20 117,509 5,405 3,784
    TOTAL $72,915 $51,040