Compare Analysis of Provident with 2.46% 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
    36 Month
    2.46%
    3.26x (National Avg. - 0.75%)
    $50,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.46%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,230 861
    2 51,230 1,260 882
    3 52,490 1,291 904
    4 53,782 1,323 926
    5 55,105 1,356 949
    6 56,460 1,389 972
    7 57,849 1,423 996
    8 59,272 1,458 1,021
    9 60,730 1,494 1,046
    10 62,224 1,531 1,072
    11 63,755 1,568 1,098
    12 65,323 1,607 1,125
    13 66,930 1,646 1,153
    14 68,577 1,687 1,181
    15 70,264 1,728 1,210
    16 71,992 1,771 1,240
    17 73,763 1,815 1,270
    18 75,578 1,859 1,301
    19 77,437 1,905 1,333
    20 79,342 1,952 1,366
    TOTAL $31,294 $21,906
  • 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