Compare Analysis of The Farmers Bank of Appomattox with 3.25% APY and Bask Bank with 5.35% APY and Bask Bank with 5.40% APY and Forbright Bank with 5.30% 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
    $50,000
    18 Month
    3.25%
    5.62x (National Avg. - 0.58%)
    $1,000
    Bank
    -
     
    SCENARIO
    Year Rate
    3.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 1,625 1,138
    2 51,625 1,678 1,174
    3 53,303 1,732 1,213
    4 55,035 1,789 1,252
    5 56,824 1,847 1,293
    6 58,671 1,907 1,335
    7 60,577 1,969 1,378
    8 62,546 2,033 1,423
    9 64,579 2,099 1,469
    10 66,678 2,167 1,517
    11 68,845 2,237 1,566
    12 71,082 2,310 1,617
    13 73,392 2,385 1,670
    14 75,778 2,463 1,724
    15 78,240 2,543 1,780
    16 80,783 2,625 1,838
    17 83,409 2,711 1,898
    18 86,119 2,799 1,959
    19 88,918 2,890 2,023
    20 91,808 2,984 2,089
    TOTAL $44,792 $31,354
  • 2
    LOCAL CD
    $50,000
    6 Month
    5.35%
    13.54x (National Avg. - 0.40%)
    $1,000
    Online Bank
    -
    SCENARIO
    Year Rate
    5.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,675 1,873
    2 52,675 2,818 1,973
    3 55,493 2,969 2,078
    4 58,462 3,128 2,189
    5 61,590 3,295 2,307
    6 64,885 3,471 2,430
    7 68,356 3,657 2,560
    8 72,013 3,853 2,697
    9 75,866 4,059 2,841
    10 79,925 4,276 2,993
    11 84,201 4,505 3,153
    12 88,705 4,746 3,322
    13 93,451 5,000 3,500
    14 98,451 5,267 3,687
    15 103,718 5,549 3,884
    16 109,267 5,846 4,092
    17 115,113 6,159 4,311
    18 121,271 6,488 4,542
    19 127,759 6,835 4,785
    20 134,594 7,201 5,041
    TOTAL $91,795 $64,256
  • 3
    LOCAL CD
    $50,000
    12 Month
    5.40%
    9.80x (National Avg. - 0.55%)
    $1,000
    Online Bank
    -
    SCENARIO
    Year Rate
    5.40%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,700 1,890
    2 52,700 2,846 1,992
    3 55,546 2,999 2,100
    4 58,545 3,161 2,213
    5 61,707 3,332 2,333
    6 65,039 3,512 2,458
    7 68,551 3,702 2,591
    8 72,253 3,902 2,731
    9 76,154 4,112 2,879
    10 80,267 4,334 3,034
    11 84,601 4,568 3,198
    12 89,170 4,815 3,371
    13 93,985 5,075 3,553
    14 99,060 5,349 3,744
    15 104,409 5,638 3,947
    16 110,047 5,943 4,160
    17 115,990 6,263 4,384
    18 122,253 6,602 4,621
    19 128,855 6,958 4,871
    20 135,813 7,334 5,134
    TOTAL $93,147 $65,203
  • 4
    LOCAL CD
    $50,000
    12 Month
    5.30%
    9.62x (National Avg. - 0.55%)
    $1,000
    Bank
    -
    SCENARIO
    Year Rate
    5.30%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,650 1,855
    2 52,650 2,790 1,953
    3 55,440 2,938 2,057
    4 58,379 3,094 2,166
    5 61,473 3,258 2,281
    6 64,731 3,431 2,402
    7 68,162 3,613 2,529
    8 71,774 3,804 2,663
    9 75,578 4,006 2,804
    10 79,584 4,218 2,953
    11 83,802 4,441 3,109
    12 88,243 4,677 3,274
    13 92,920 4,925 3,447
    14 97,845 5,186 3,630
    15 103,031 5,461 3,822
    16 108,491 5,750 4,025
    17 114,242 6,055 4,238
    18 120,296 6,376 4,463
    19 126,672 6,714 4,700
    20 133,386 7,069 4,949
    TOTAL $90,455 $63,319