Compare Analysis of Suma Yonkers with 2.28% 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.2.28%10.91x (National Avg. - 0.21%)$50Credit Union-SCENARIO
Year Rate
2.28%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,140 798 2 51,140 1,166 816 3 52,306 1,193 835 4 53,499 1,220 854 5 54,718 1,248 873 6 55,966 1,276 893 7 57,242 1,305 914 8 58,547 1,335 934 9 59,882 1,365 956 10 61,247 1,396 978 11 62,644 1,428 1,000 12 64,072 1,461 1,023 13 65,533 1,494 1,046 14 67,027 1,528 1,070 15 68,555 1,563 1,094 16 70,118 1,599 1,119 17 71,717 1,635 1,145 18 73,352 1,672 1,171 19 75,024 1,711 1,197 20 76,735 1,750 1,225 TOTAL $28,485 $19,939 - 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