Compare Analysis of Raritan Bay with 0.54% 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$50,00024 Month0.54%0.57x (National Avg. - 0.95%)$10,000Credit Union-SCENARIO
Year Rate
0.54%Annual
InterestAnnual Interest
(After Tax)1 50,000 270 189 2 50,270 271 190 3 50,541 273 191 4 50,814 274 192 5 51,089 276 193 6 51,365 277 194 7 51,642 279 195 8 51,921 280 196 9 52,201 282 197 10 52,483 283 198 11 52,767 285 199 12 53,052 286 201 13 53,338 288 202 14 53,626 290 203 15 53,916 291 204 16 54,207 293 205 17 54,499 294 206 18 54,794 296 207 19 55,090 297 208 20 55,387 299 209 TOTAL $5,686 $3,980 - 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