Compare Analysis of Redstone with 2.98% 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
    Redstone
    $50,000
    36 Month
    2.98%
    3.96x (National Avg. - 0.75%)
    $1,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    2.98%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,490 1,043
    2 51,490 1,534 1,074
    3 53,024 1,580 1,106
    4 54,605 1,627 1,139
    5 56,232 1,676 1,173
    6 57,907 1,726 1,208
    7 59,633 1,777 1,244
    8 61,410 1,830 1,281
    9 63,240 1,885 1,319
    10 65,125 1,941 1,359
    11 67,065 1,999 1,399
    12 69,064 2,058 1,441
    13 71,122 2,119 1,484
    14 73,242 2,183 1,528
    15 75,424 2,248 1,573
    16 77,672 2,315 1,620
    17 79,986 2,384 1,669
    18 82,370 2,455 1,718
    19 84,825 2,528 1,769
    20 87,352 2,603 1,822
    TOTAL $39,956 $27,969
  • 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