Compare Analysis of Brio Direct, a division of Webster Bank with 5.35% APY and Bask Bank with 5.10% APY and SoFi Bank with 4.60% 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 MONEY MARKET$50,000N.A.5.35%25.60x (National Avg. - 0.21%)$500Online Bank-SCENARIO
Year Rate
5.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,675 1,873 2 52,675 2,818 1,973 3 55,493 2,969 2,078 4 58,462 3,128 2,189 5 61,590 3,295 2,307 6 64,885 3,471 2,430 7 68,356 3,657 2,560 8 72,013 3,853 2,697 9 75,866 4,059 2,841 10 79,925 4,276 2,993 11 84,201 4,505 3,153 12 88,705 4,746 3,322 13 93,451 5,000 3,500 14 98,451 5,267 3,687 15 103,718 5,549 3,884 16 109,267 5,846 4,092 17 115,113 6,159 4,311 18 121,271 6,488 4,542 19 127,759 6,835 4,785 20 134,594 7,201 5,041 TOTAL $91,795 $64,256 - 2LOCAL SAVINGS$50,000N.A.5.10%24.40x (National Avg. - 0.21%)$0Online Bank-SCENARIO
Year Rate
5.10%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,550 1,785 2 52,550 2,680 1,876 3 55,230 2,817 1,972 4 58,047 2,960 2,072 5 61,007 3,111 2,178 6 64,119 3,270 2,289 7 67,389 3,437 2,406 8 70,825 3,612 2,528 9 74,437 3,796 2,657 10 78,234 3,990 2,793 11 82,224 4,193 2,935 12 86,417 4,407 3,085 13 90,824 4,632 3,242 14 95,456 4,868 3,408 15 100,325 5,117 3,582 16 105,441 5,378 3,764 17 110,819 5,652 3,956 18 116,471 5,940 4,158 19 122,411 6,243 4,370 20 128,654 6,561 4,593 TOTAL $85,215 $59,650 - 3ONLINE SAVINGS$50,000N.A.4.60%22.01x (National Avg. - 0.21%)$0Online Bank-SCENARIO
Year Rate
4.60%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,300 1,610 2 52,300 2,406 1,684 3 54,706 2,516 1,762 4 57,222 2,632 1,843 5 59,854 2,753 1,927 6 62,608 2,880 2,016 7 65,488 3,012 2,109 8 68,500 3,151 2,206 9 71,651 3,296 2,307 10 74,947 3,448 2,413 11 78,395 3,606 2,524 12 82,001 3,772 2,640 13 85,773 3,946 2,762 14 89,718 4,127 2,889 15 93,846 4,317 3,022 16 98,162 4,515 3,161 17 102,678 4,723 3,306 18 107,401 4,940 3,458 19 112,342 5,168 3,617 20 117,509 5,405 3,784 TOTAL $72,915 $51,040