Compare Analysis of Southwestern National Bank with 0.78% 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
    Southwestern National Bank
    $50,000
    24 Month
    0.78%
    0.82x (National Avg. - 0.95%)
    $100,000
    Bank
    -
     
    SCENARIO
    Year Rate
    0.78%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 388 271
    2 50,388 391 273
    3 50,778 394 275
    4 51,172 397 278
    5 51,568 400 280
    6 51,968 403 282
    7 52,371 406 284
    8 52,776 409 286
    9 53,185 412 289
    10 53,598 415 291
    11 54,013 419 293
    12 54,432 422 295
    13 54,853 425 298
    14 55,279 428 300
    15 55,707 432 302
    16 56,139 435 305
    17 56,574 438 307
    18 57,012 442 309
    19 57,454 445 312
    20 57,899 449 314
    TOTAL $8,348 $5,844
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    23.95x (National Avg. - 0.22%)
    $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