Compare Analysis of The Waterford Commercial and Savings Bank with 0.59% 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$50,00024 Month0.59%0.62x (National Avg. - 0.95%)$10,000Bank-SCENARIO
Year Rate
0.59%Annual
InterestAnnual Interest
(After Tax)1 50,000 295 207 2 50,295 297 208 3 50,592 298 209 4 50,890 300 210 5 51,190 302 211 6 51,493 304 213 7 51,796 306 214 8 52,102 307 215 9 52,409 309 216 10 52,719 311 218 11 53,030 313 219 12 53,342 315 220 13 53,657 317 222 14 53,974 318 223 15 54,292 320 224 16 54,613 322 226 17 54,935 324 227 18 55,259 326 228 19 55,585 328 230 20 55,913 330 231 TOTAL $6,243 $4,370 - 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