Compare Analysis of Spectra Bank with 0.05% APY and First Foundation Bank with 3.75% 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 SAVINGS
    Spectra Bank
    $50,000
    N.A.
    0.05%
    0.23x (National Avg. - 0.22%)
    $200
    Bank
    -
     
    SCENARIO
    Year Rate
    0.05%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 26 18
    2 50,026 26 18
    3 50,051 26 18
    4 50,077 26 18
    5 50,102 26 18
    6 50,128 26 18
    7 50,153 26 18
    8 50,179 26 18
    9 50,204 26 18
    10 50,230 26 18
    11 50,256 26 18
    12 50,281 26 18
    13 50,307 26 18
    14 50,333 26 18
    15 50,358 26 18
    16 50,384 26 18
    17 50,410 26 18
    18 50,435 26 18
    19 50,461 26 18
    20 50,487 26 18
    TOTAL $512 $359
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    16.74x (National Avg. - 0.22%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085