Compare Analysis of Riverways with 5.03% 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.

  • 1
    LOCAL CD
    Riverways
    $50,000
    6 Month
    5.03%
    7.33x (National Avg. - 0.69%)
    $250
    Credit Union
    -
     
    SCENARIO
    Year Rate
    5.03%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,515 1,761
    2 52,515 2,642 1,849
    3 55,157 2,774 1,942
    4 57,931 2,914 2,040
    5 60,845 3,060 2,142
    6 63,905 3,214 2,250
    7 67,120 3,376 2,363
    8 70,496 3,546 2,482
    9 74,042 3,724 2,607
    10 77,766 3,912 2,738
    11 81,678 4,108 2,876
    12 85,786 4,315 3,021
    13 90,101 4,532 3,172
    14 94,633 4,760 3,332
    15 99,393 4,999 3,500
    16 104,393 5,251 3,676
    17 109,644 5,515 3,861
    18 115,159 5,792 4,055
    19 120,951 6,084 4,259
    20 127,035 6,390 4,473
    TOTAL $83,425 $58,398
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.01x (National Avg. - 0.23%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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