Compare Analysis of Southwestern National Bank with 0.75% 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 MONEY MARKET
    Southwestern National Bank
    $50,000
    N.A.
    0.75%
    3.18x (National Avg. - 0.23%)
    $25,000
    Bank
    -
     
    SCENARIO
    Year Rate
    0.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 373 261
    2 50,373 375 263
    3 50,748 378 265
    4 51,126 381 267
    5 51,507 384 269
    6 51,890 387 271
    7 52,277 389 273
    8 52,667 392 275
    9 53,059 395 277
    10 53,454 398 279
    11 53,852 401 281
    12 54,254 404 283
    13 54,658 407 285
    14 55,065 410 287
    15 55,475 413 289
    16 55,889 416 291
    17 56,305 419 294
    18 56,724 423 296
    19 57,147 426 298
    20 57,573 429 300
    TOTAL $8,002 $5,601
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    22.01x (National Avg. - 0.23%)
    $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