Compare Analysis of Sallie Mae Bank with 0.45% APY and Citi Accelerate with 0.50% 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.
- 1ONLINE MONEY MARKET$50,000N.A.0.45%3.95x (National Avg. - 0.11%)$0Bank-SCENARIO
Year Rate
0.45%Annual
InterestAnnual Interest
(After Tax)1 50,000 225 158 2 50,225 226 158 3 50,451 227 159 4 50,678 228 160 5 50,906 229 160 6 51,135 230 161 7 51,365 231 162 8 51,596 232 163 9 51,829 233 163 10 52,062 234 164 11 52,296 235 165 12 52,531 236 165 13 52,768 237 166 14 53,005 239 167 15 53,244 240 168 16 53,483 241 168 17 53,724 242 169 18 53,966 243 170 19 54,209 244 171 20 54,453 245 172 TOTAL $4,698 $3,288 - 2ONLINE SAVINGS$50,000N.A.0.50%4.39x (National Avg. - 0.11%)$0Online Bank-SCENARIO
Year Rate
0.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 250 175 2 50,250 251 176 3 50,501 253 177 4 50,754 254 178 5 51,008 255 179 6 51,263 256 179 7 51,519 258 180 8 51,776 259 181 9 52,035 260 182 10 52,296 261 183 11 52,557 263 184 12 52,820 264 185 13 53,084 265 186 14 53,349 267 187 15 53,616 268 188 16 53,884 269 189 17 54,154 271 190 18 54,424 272 190 19 54,696 273 191 20 54,970 275 192 TOTAL $5,245 $3,671