Compare Analysis of Southwestern National Bank with 0.98% 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 Month0.98%1.07x (National Avg. - 0.91%)$100,000Bank-SCENARIO
Year Rate
0.98%Annual
InterestAnnual Interest
(After Tax)1 50,000 488 341 2 50,488 492 345 3 50,980 497 348 4 51,477 502 351 5 51,979 507 355 6 52,485 512 358 7 52,997 517 362 8 53,514 522 365 9 54,036 527 369 10 54,563 532 372 11 55,095 537 376 12 55,632 542 380 13 56,174 548 383 14 56,722 553 387 15 57,275 558 391 16 57,833 564 395 17 58,397 569 399 18 58,967 575 402 19 59,541 581 406 20 60,122 586 410 TOTAL $10,708 $7,496 - 2LOCAL SAVINGS$50,000N.A.5.15%22.01x (National Avg. - 0.23%)$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