Compare Analysis of Quest with 1.18% 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 Month1.18%1.24x (National Avg. - 0.95%)$100,000Credit Union-SCENARIO
Year Rate
1.18%Annual
InterestAnnual Interest
(After Tax)1 50,000 590 413 2 50,590 597 418 3 51,187 604 423 4 51,791 611 428 5 52,402 618 433 6 53,020 626 438 7 53,646 633 443 8 54,279 640 448 9 54,920 648 454 10 55,568 656 459 11 56,223 663 464 12 56,887 671 470 13 57,558 679 475 14 58,237 687 481 15 58,924 695 487 16 59,620 704 492 17 60,323 712 498 18 61,035 720 504 19 61,755 729 510 20 62,484 737 516 TOTAL $13,221 $9,255 - 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