Compare Analysis of SFGI Direct, a division of Summit Community Bank with 0.56% APY and Citi Accelerate with 0.50% 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.
- 1ONLINE SAVINGS$50,000N.A.0.56%4.91x (National Avg. - 0.11%)$500Online Bank-SCENARIO
Year Rate
0.56%Annual
InterestAnnual Interest
(After Tax)1 50,000 280 196 2 50,280 282 197 3 50,562 283 198 4 50,845 285 199 5 51,129 286 200 6 51,416 288 202 7 51,704 290 203 8 51,993 291 204 9 52,284 293 205 10 52,577 294 206 11 52,872 296 207 12 53,168 298 208 13 53,465 299 210 14 53,765 301 211 15 54,066 303 212 16 54,369 304 213 17 54,673 306 214 18 54,979 308 216 19 55,287 310 217 20 55,597 311 218 TOTAL $5,908 $4,136 - 2ONLINE SAVINGS$50,000N.A.0.50%4.39x (National Avg. - 0.11%)$0Online Bank-SCENARIO
Year Rate
0.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 250 175 2 50,250 251 176 3 50,501 253 177 4 50,754 254 178 5 51,008 255 179 6 51,263 256 179 7 51,519 258 180 8 51,776 259 181 9 52,035 260 182 10 52,296 261 183 11 52,557 263 184 12 52,820 264 185 13 53,084 265 186 14 53,349 267 187 15 53,616 268 188 16 53,884 269 189 17 54,154 271 190 18 54,424 272 190 19 54,696 273 191 20 54,970 275 192 TOTAL $5,245 $3,671