Compare Analysis of Quest with 0.92% APY and Forbright Bank with 5.15% 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.
- 1LOCAL CD$50,00048 Month0.92%0.97x (National Avg. - 0.95%)$10,000Credit Union-SCENARIO
Year Rate
0.92%Annual
InterestAnnual Interest
(After Tax)1 50,000 460 322 2 50,460 464 325 3 50,924 469 328 4 51,393 473 331 5 51,866 477 334 6 52,343 482 337 7 52,824 486 340 8 53,310 490 343 9 53,801 495 346 10 54,296 500 350 11 54,795 504 353 12 55,299 509 356 13 55,808 513 359 14 56,321 518 363 15 56,840 523 366 16 57,363 528 369 17 57,890 533 373 18 58,423 537 376 19 58,960 542 380 20 59,503 547 383 TOTAL $10,050 $7,035 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$0Bank-SCENARIO
Year Rate
5.15%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,575 1,803 2 52,575 2,708 1,895 3 55,283 2,847 1,993 4 58,130 2,994 2,096 5 61,123 3,148 2,203 6 64,271 3,310 2,317 7 67,581 3,480 2,436 8 71,062 3,660 2,562 9 74,721 3,848 2,694 10 78,569 4,046 2,832 11 82,616 4,255 2,978 12 86,870 4,474 3,132 13 91,344 4,704 3,293 14 96,049 4,946 3,463 15 100,995 5,201 3,641 16 106,196 5,469 3,828 17 111,665 5,751 4,026 18 117,416 6,047 4,233 19 123,463 6,358 4,451 20 129,821 6,686 4,680 TOTAL $86,507 $60,555