Compare Analysis of Southwestern National Bank with 0.63% 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.
- 1LOCAL CD$50,00012 Month0.63%0.75x (National Avg. - 0.84%)$100,000Bank-SCENARIO
Year Rate
0.63%Annual
InterestAnnual Interest
(After Tax)1 50,000 313 219 2 50,313 314 220 3 50,627 316 221 4 50,943 318 223 5 51,262 320 224 6 51,582 322 226 7 51,905 324 227 8 52,229 326 229 9 52,555 328 230 10 52,884 331 231 11 53,214 333 233 12 53,547 335 234 13 53,882 337 236 14 54,218 339 237 15 54,557 341 239 16 54,898 343 240 17 55,241 345 242 18 55,587 347 243 19 55,934 350 245 20 56,284 352 246 TOTAL $6,635 $4,645 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$0Bank-SCENARIO
Year Rate
5.15%Annual
InterestAnnual 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