Compare Analysis of Southwestern National Bank with 0.23% 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
    6 Month
    0.23%
    0.33x (National Avg. - 0.69%)
    $10,000
    Bank
    -
     
    SCENARIO
    Year Rate
    0.23%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 113 79
    2 50,113 113 79
    3 50,225 113 79
    4 50,338 113 79
    5 50,452 114 79
    6 50,565 114 80
    7 50,679 114 80
    8 50,793 114 80
    9 50,907 115 80
    10 51,022 115 80
    11 51,136 115 81
    12 51,252 115 81
    13 51,367 116 81
    14 51,482 116 81
    15 51,598 116 81
    16 51,714 116 81
    17 51,831 117 82
    18 51,947 117 82
    19 52,064 117 82
    20 52,181 117 82
    TOTAL $2,299 $1,609
  • 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