Compare Analysis of Sound Community Bank with 2.93% 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 CD
    Sound Community Bank
    $50,000
    6 Month
    2.93%
    7.25x (National Avg. - 0.40%)
    $1,000
    Bank
    -
     
    SCENARIO
    Year Rate
    2.93%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,465 1,026
    2 51,465 1,508 1,056
    3 52,973 1,552 1,086
    4 54,525 1,598 1,118
    5 56,123 1,644 1,151
    6 57,767 1,693 1,185
    7 59,460 1,742 1,220
    8 61,202 1,793 1,255
    9 62,995 1,846 1,292
    10 64,841 1,900 1,330
    11 66,741 1,955 1,369
    12 68,696 2,013 1,409
    13 70,709 2,072 1,450
    14 72,781 2,132 1,493
    15 74,913 2,195 1,536
    16 77,108 2,259 1,581
    17 79,367 2,325 1,628
    18 81,693 2,394 1,676
    19 84,086 2,464 1,725
    20 86,550 2,536 1,775
    TOTAL $39,086 $27,360
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    7.93x (National Avg. - 0.47%)
    $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