Compare Analysis of Texoma Community with 0.85% 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 CD$50,00012 Month0.85%1.02x (National Avg. - 0.84%)$100,000Credit Union-SCENARIO
Year Rate
0.85%Annual
InterestAnnual Interest
(After Tax)1 50,000 427 299 2 50,427 430 301 3 50,857 434 304 4 51,290 438 306 5 51,728 441 309 6 52,169 445 312 7 52,614 449 314 8 53,063 453 317 9 53,516 456 320 10 53,972 460 322 11 54,432 464 325 12 54,897 468 328 13 55,365 472 331 14 55,837 476 333 15 56,314 480 336 16 56,794 484 339 17 57,278 489 342 18 57,767 493 345 19 58,260 497 348 20 58,757 501 351 TOTAL $9,258 $6,481 - 2LOCAL SAVINGS$50,000N.A.5.15%22.01x (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