Compare Analysis of Provident with 2.41% 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
    2.41%
    3.20x (National Avg. - 0.75%)
    $100,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.41%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,205 844
    2 51,205 1,234 864
    3 52,439 1,264 885
    4 53,703 1,294 906
    5 54,997 1,325 928
    6 56,322 1,357 950
    7 57,680 1,390 973
    8 59,070 1,424 997
    9 60,494 1,458 1,021
    10 61,951 1,493 1,045
    11 63,444 1,529 1,070
    12 64,973 1,566 1,096
    13 66,539 1,604 1,123
    14 68,143 1,642 1,150
    15 69,785 1,682 1,177
    16 71,467 1,722 1,206
    17 73,189 1,764 1,235
    18 74,953 1,806 1,264
    19 76,760 1,850 1,295
    20 78,609 1,894 1,326
    TOTAL $30,504 $21,353
  • 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