Compare Analysis of Southwestern National Bank with 0.88% 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$50,00060 Month0.88%0.96x (National Avg. - 0.91%)$10,000Bank-SCENARIO
Year Rate
0.88%Annual
InterestAnnual Interest
(After Tax)1 50,000 438 306 2 50,438 441 309 3 50,879 445 312 4 51,324 449 314 5 51,773 453 317 6 52,226 457 320 7 52,683 461 323 8 53,144 465 326 9 53,609 469 328 10 54,078 473 331 11 54,551 477 334 12 55,029 482 337 13 55,510 486 340 14 55,996 490 343 15 56,486 494 346 16 56,980 499 349 17 57,479 503 352 18 57,982 507 355 19 58,489 512 358 20 59,001 516 361 TOTAL $9,517 $6,662 - 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