Compare Analysis of CNB Bank Direct with 4.70% 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.
- 1ONLINE MONEY MARKET$50,000N.A.4.70%22.49x (National Avg. - 0.21%)$25,000Online Bank-SCENARIO
Year Rate
4.70%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,350 1,645 2 52,350 2,460 1,722 3 54,810 2,576 1,803 4 57,387 2,697 1,888 5 60,084 2,824 1,977 6 62,908 2,957 2,070 7 65,864 3,096 2,167 8 68,960 3,241 2,269 9 72,201 3,393 2,375 10 75,594 3,553 2,487 11 79,147 3,720 2,604 12 82,867 3,895 2,726 13 86,762 4,078 2,854 14 90,840 4,269 2,989 15 95,109 4,470 3,129 16 99,580 4,680 3,276 17 104,260 4,900 3,430 18 109,160 5,131 3,591 19 114,291 5,372 3,760 20 119,662 5,624 3,937 TOTAL $75,286 $52,700 - 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