Compare Analysis of Provident with 2.06% APY and First Foundation Bank with 3.75% 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
    2.06%
    3.13x (National Avg. - 0.66%)
    $500
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.06%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,030 721
    2 51,030 1,051 736
    3 52,081 1,073 751
    4 53,154 1,095 766
    5 54,249 1,118 782
    6 55,367 1,141 798
    7 56,507 1,164 815
    8 57,671 1,188 832
    9 58,859 1,212 849
    10 60,072 1,237 866
    11 61,309 1,263 884
    12 62,572 1,289 902
    13 63,861 1,316 921
    14 65,177 1,343 940
    15 66,519 1,370 959
    16 67,890 1,399 979
    17 69,288 1,427 999
    18 70,715 1,457 1,020
    19 72,172 1,487 1,041
    20 73,659 1,517 1,062
    TOTAL $25,176 $17,623
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    7.93x (National Avg. - 0.47%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085