Compare Analysis of Provident with 2.16% APY and First Foundation Bank with 4.00% 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
    Provident
    $50,000
    24 Month
    2.16%
    3.27x (National Avg. - 0.66%)
    $1,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.16%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,080 756
    2 51,080 1,103 772
    3 52,183 1,127 789
    4 53,310 1,152 806
    5 54,462 1,176 823
    6 55,638 1,202 841
    7 56,840 1,228 859
    8 58,068 1,254 878
    9 59,322 1,281 897
    10 60,604 1,309 916
    11 61,913 1,337 936
    12 63,250 1,366 956
    13 64,616 1,396 977
    14 66,012 1,426 998
    15 67,438 1,457 1,020
    16 68,894 1,488 1,042
    17 70,382 1,520 1,064
    18 71,903 1,553 1,087
    19 73,456 1,587 1,111
    20 75,042 1,621 1,135
    TOTAL $26,663 $18,664
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    4.00%
    7.13x (National Avg. - 0.56%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689