Compare Analysis of Summit State Bank with 1.39% APY and First Foundation Bank with 3.75% 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
    Summit State Bank
    $50,000
    60 Month
    1.39%
    1.51x (National Avg. - 0.92%)
    $100,000
    Bank
    -
     
    SCENARIO
    Year Rate
    1.39%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 695 487
    2 50,695 705 493
    3 51,400 714 500
    4 52,114 724 507
    5 52,839 734 514
    6 53,573 745 521
    7 54,318 755 529
    8 55,073 766 536
    9 55,838 776 543
    10 56,614 787 551
    11 57,401 798 559
    12 58,199 809 566
    13 59,008 820 574
    14 59,828 832 582
    15 60,660 843 590
    16 61,503 855 598
    17 62,358 867 607
    18 63,225 879 615
    19 64,104 891 624
    20 64,995 903 632
    TOTAL $15,898 $11,129
  • 2
    ONLINE SAVINGS
    First Foundation Bank , ★ TOP PICK ★
    $50,000
    N.A.
    3.75%
    16.74x (National Avg. - 0.22%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    3.75%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 1,875 1,313
    2 51,875 1,945 1,362
    3 53,820 2,018 1,413
    4 55,839 2,094 1,466
    5 57,933 2,172 1,521
    6 60,105 2,254 1,578
    7 62,359 2,338 1,637
    8 64,697 2,426 1,698
    9 67,124 2,517 1,762
    10 69,641 2,612 1,828
    11 72,252 2,709 1,897
    12 74,962 2,811 1,968
    13 77,773 2,916 2,042
    14 80,689 3,026 2,118
    15 83,715 3,139 2,198
    16 86,854 3,257 2,280
    17 90,111 3,379 2,365
    18 93,491 3,506 2,454
    19 96,996 3,637 2,546
    20 100,634 3,774 2,642
    TOTAL $54,408 $38,085