Compare Analysis of The First State Bank of Malta with 1.66% 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$50,00060 Month1.66%1.82x (National Avg. - 0.91%)$10,000Bank-SCENARIO
Year Rate
1.66%Annual
InterestAnnual Interest
(After Tax)1 50,000 830 581 2 50,830 844 591 3 51,674 858 600 4 52,532 872 610 5 53,404 886 621 6 54,290 901 631 7 55,191 916 641 8 56,107 931 652 9 57,039 947 663 10 57,986 963 674 11 58,948 979 685 12 59,927 995 696 13 60,922 1,011 708 14 61,933 1,028 720 15 62,961 1,045 732 16 64,006 1,063 744 17 65,069 1,080 756 18 66,149 1,098 769 19 67,247 1,116 781 20 68,363 1,135 794 TOTAL $19,498 $13,649 - 2LOCAL SAVINGS$50,000N.A.5.15%22.10x (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