Compare Analysis of The Farmers & Merchants State Bank with 0.94% 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$50,00048 Month0.94%0.99x (National Avg. - 0.95%)$100,000Bank-SCENARIO
Year Rate
0.94%Annual
InterestAnnual Interest
(After Tax)1 50,000 470 329 2 50,470 474 332 3 50,944 479 335 4 51,423 483 338 5 51,907 488 342 6 52,395 493 345 7 52,887 497 348 8 53,384 502 351 9 53,886 507 355 10 54,393 511 358 11 54,904 516 361 12 55,420 521 365 13 55,941 526 368 14 56,467 531 372 15 56,998 536 375 16 57,533 541 379 17 58,074 546 382 18 58,620 551 386 19 59,171 556 389 20 59,727 561 393 TOTAL $10,289 $7,202 - 2LOCAL SAVINGS$50,000N.A.5.15%23.95x (National Avg. - 0.22%)$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