Compare Analysis of Provident with 2.61% 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
    48 Month
    2.61%
    3.19x (National Avg. - 0.82%)
    $50,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.61%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,305 914
    2 51,305 1,339 937
    3 52,644 1,374 962
    4 54,018 1,410 987
    5 55,428 1,447 1,013
    6 56,875 1,484 1,039
    7 58,359 1,523 1,066
    8 59,882 1,563 1,094
    9 61,445 1,604 1,123
    10 63,049 1,646 1,152
    11 64,694 1,689 1,182
    12 66,383 1,733 1,213
    13 68,116 1,778 1,244
    14 69,893 1,824 1,277
    15 71,718 1,872 1,310
    16 73,589 1,921 1,344
    17 75,510 1,971 1,380
    18 77,481 2,022 1,416
    19 79,503 2,075 1,453
    20 81,578 2,129 1,490
    TOTAL $33,707 $23,595
  • 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