Compare Analysis of The Savings Bank with 0.48% 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$50,00036 Month0.48%0.55x (National Avg. - 0.87%)$1,000Bank-SCENARIO
Year Rate
0.48%Annual
InterestAnnual Interest
(After Tax)1 50,000 240 168 2 50,240 241 169 3 50,481 242 170 4 50,723 243 170 5 50,967 245 171 6 51,212 246 172 7 51,457 247 173 8 51,704 248 174 9 51,953 249 175 10 52,202 251 175 11 52,453 252 176 12 52,704 253 177 13 52,957 254 178 14 53,211 255 179 15 53,467 257 180 16 53,724 258 181 17 53,981 259 181 18 54,240 260 182 19 54,501 262 183 20 54,762 263 184 TOTAL $5,025 $3,518 - 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