Compare Analysis of ProGrowth Bank with 1.03% 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
    ProGrowth Bank
    $50,000
    60 Month
    1.03%
    1.13x (National Avg. - 0.91%)
    $100,000
    Bank
    -
     
    SCENARIO
    Year Rate
    1.03%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 515 361
    2 50,515 520 364
    3 51,035 526 368
    4 51,561 531 372
    5 52,092 537 376
    6 52,629 542 379
    7 53,171 548 383
    8 53,718 553 387
    9 54,272 559 391
    10 54,831 565 395
    11 55,395 571 399
    12 55,966 576 404
    13 56,542 582 408
    14 57,125 588 412
    15 57,713 594 416
    16 58,308 601 420
    17 58,908 607 425
    18 59,515 613 429
    19 60,128 619 434
    20 60,747 626 438
    TOTAL $11,373 $7,961
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.01x (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