Compare Analysis of Spirit Of Alaska with 0.11% 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 SAVINGS$50,000N.A.0.11%0.47x (National Avg. - 0.23%)$2,500Credit Union-SCENARIO
Year Rate
0.11%Annual
InterestAnnual Interest
(After Tax)1 50,000 55 39 2 50,055 55 39 3 50,110 55 39 4 50,165 55 39 5 50,220 55 39 6 50,276 55 39 7 50,331 55 39 8 50,386 55 39 9 50,442 55 39 10 50,497 56 39 11 50,553 56 39 12 50,608 56 39 13 50,664 56 39 14 50,720 56 39 15 50,776 56 39 16 50,831 56 39 17 50,887 56 39 18 50,943 56 39 19 50,999 56 39 20 51,055 56 39 TOTAL $1,112 $778 - 2LOCAL SAVINGS$50,000N.A.5.15%22.10x (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