Compare Analysis of ProGrowth Bank with 4.31% 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$50,00037 Month4.31%N.A.$10,000Bank-SCENARIO
Year Rate
4.31%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,155 1,509 2 52,155 2,248 1,574 3 54,403 2,345 1,641 4 56,748 2,446 1,712 5 59,193 2,551 1,786 6 61,745 2,661 1,863 7 64,406 2,776 1,943 8 67,182 2,896 2,027 9 70,077 3,020 2,114 10 73,098 3,151 2,205 11 76,248 3,286 2,300 12 79,534 3,428 2,400 13 82,962 3,576 2,503 14 86,538 3,730 2,611 15 90,268 3,891 2,723 16 94,158 4,058 2,841 17 98,217 4,233 2,963 18 102,450 4,416 3,091 19 106,865 4,606 3,224 20 111,471 4,804 3,363 TOTAL $66,276 $46,393 - 2LOCAL SAVINGS$50,000N.A.5.15%22.01x (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