Compare Analysis of The Waterford Commercial and Savings Bank with 0.69% 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 Month0.69%0.79x (National Avg. - 0.87%)$10,000Bank-SCENARIO
Year Rate
0.69%Annual
InterestAnnual Interest
(After Tax)1 50,000 345 242 2 50,345 347 243 3 50,692 350 245 4 51,042 352 247 5 51,394 355 248 6 51,749 357 250 7 52,106 360 252 8 52,466 362 253 9 52,828 365 255 10 53,192 367 257 11 53,559 370 259 12 53,929 372 260 13 54,301 375 262 14 54,675 377 264 15 55,053 380 266 16 55,433 382 268 17 55,815 385 270 18 56,200 388 271 19 56,588 390 273 20 56,978 393 275 TOTAL $7,372 $5,160 - 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