Compare Analysis of Sallie Mae Bank with 4.90% APY and Discover Bank with 4.10% APY and Discover Bank with 4.30% APY and Discover Bank with 4.50% 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
    ONLINE CD
    Sallie Mae Bank
    $50,000
    18 Month
    4.90%
    10.25x (National Avg. - 0.48%)
    $2,500
    Bank
    -
     
    SCENARIO
    Year Rate
    4.90%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,450 1,715
    2 52,450 2,570 1,799
    3 55,020 2,696 1,887
    4 57,716 2,828 1,980
    5 60,544 2,967 2,077
    6 63,511 3,112 2,178
    7 66,623 3,265 2,285
    8 69,887 3,424 2,397
    9 73,312 3,592 2,515
    10 76,904 3,768 2,638
    11 80,672 3,953 2,767
    12 84,625 4,147 2,903
    13 88,772 4,350 3,045
    14 93,122 4,563 3,194
    15 97,685 4,787 3,351
    16 102,471 5,021 3,515
    17 107,492 5,267 3,687
    18 112,760 5,525 3,868
    19 118,285 5,796 4,057
    20 124,081 6,080 4,256
    TOTAL $80,161 $56,112
  • 2
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    $50,000
    60 Month
    4.10%
    5.06x (National Avg. - 0.81%)
    $2,500
    Online Bank
    -
    SCENARIO
    Year Rate
    4.10%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,050 1,435
    2 52,050 2,134 1,494
    3 54,184 2,222 1,555
    4 56,406 2,313 1,619
    5 58,718 2,407 1,685
    6 61,126 2,506 1,754
    7 63,632 2,609 1,826
    8 66,241 2,716 1,901
    9 68,957 2,827 1,979
    10 71,784 2,943 2,060
    11 74,727 3,064 2,145
    12 77,791 3,189 2,233
    13 80,980 3,320 2,324
    14 84,300 3,456 2,419
    15 87,757 3,598 2,519
    16 91,355 3,746 2,622
    17 95,100 3,899 2,729
    18 98,999 4,059 2,841
    19 103,058 4,225 2,958
    20 107,284 4,399 3,079
    TOTAL $61,682 $43,178
  • 3
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    $50,000
    24 Month
    4.30%
    7.76x (National Avg. - 0.55%)
    $2,500
    Online Bank
    -
    SCENARIO
    Year Rate
    4.30%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,150 1,505
    2 52,150 2,242 1,570
    3 54,392 2,339 1,637
    4 56,731 2,439 1,708
    5 59,171 2,544 1,781
    6 61,715 2,654 1,858
    7 64,369 2,768 1,938
    8 67,137 2,887 2,021
    9 70,024 3,011 2,108
    10 73,035 3,140 2,198
    11 76,175 3,276 2,293
    12 79,451 3,416 2,391
    13 82,867 3,563 2,494
    14 86,430 3,717 2,602
    15 90,147 3,876 2,713
    16 94,023 4,043 2,830
    17 98,066 4,217 2,952
    18 102,283 4,398 3,079
    19 106,681 4,587 3,211
    20 111,268 4,785 3,349
    TOTAL $66,053 $46,237
  • 4
    LOCAL CD
    Discover Bank , ★ TOP PICK ★
    $50,000
    12 Month
    4.50%
    10.25x (National Avg. - 0.44%)
    $2,500
    Online Bank
    -
    SCENARIO
    Year Rate
    4.50%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,250 1,575
    2 52,250 2,351 1,646
    3 54,601 2,457 1,720
    4 57,058 2,568 1,797
    5 59,626 2,683 1,878
    6 62,309 2,804 1,963
    7 65,113 2,930 2,051
    8 68,043 3,062 2,143
    9 71,105 3,200 2,240
    10 74,305 3,344 2,341
    11 77,648 3,494 2,446
    12 81,143 3,651 2,556
    13 84,794 3,816 2,671
    14 88,610 3,987 2,791
    15 92,597 4,167 2,917
    16 96,764 4,354 3,048
    17 101,119 4,550 3,185
    18 105,669 4,755 3,329
    19 110,424 4,969 3,478
    20 115,393 5,193 3,635
    TOTAL $70,586 $49,410