Compare Analysis of Spectrum with 4.70% APY and First Foundation Bank with 4.00% 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
    Spectrum
    $50,000
    12 Month
    4.70%
    8.56x (National Avg. - 0.55%)
    $50,000
    Credit Union
    -
     
    SCENARIO
    Year Rate
    4.70%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,350 1,645
    2 52,350 2,460 1,722
    3 54,810 2,576 1,803
    4 57,387 2,697 1,888
    5 60,084 2,824 1,977
    6 62,908 2,957 2,070
    7 65,864 3,096 2,167
    8 68,960 3,241 2,269
    9 72,201 3,393 2,375
    10 75,594 3,553 2,487
    11 79,147 3,720 2,604
    12 82,867 3,895 2,726
    13 86,762 4,078 2,854
    14 90,840 4,269 2,989
    15 95,109 4,470 3,129
    16 99,580 4,680 3,276
    17 104,260 4,900 3,430
    18 109,160 5,131 3,591
    19 114,291 5,372 3,760
    20 119,662 5,624 3,937
    TOTAL $75,286 $52,700
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    4.00%
    17.70x (National Avg. - 0.23%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    4.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,000 1,400
    2 52,000 2,080 1,456
    3 54,080 2,163 1,514
    4 56,243 2,250 1,575
    5 58,493 2,340 1,638
    6 60,833 2,433 1,703
    7 63,266 2,531 1,771
    8 65,797 2,632 1,842
    9 68,428 2,737 1,916
    10 71,166 2,847 1,993
    11 74,012 2,960 2,072
    12 76,973 3,079 2,155
    13 80,052 3,202 2,241
    14 83,254 3,330 2,331
    15 86,584 3,463 2,424
    16 90,047 3,602 2,521
    17 93,649 3,746 2,622
    18 97,395 3,896 2,727
    19 101,291 4,052 2,836
    20 105,342 4,214 2,950
    TOTAL $59,556 $41,689