Compare Analysis of Commercial State Bank with 2.45% 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 Month2.45%2.81x (National Avg. - 0.87%)$100,000Bank-SCENARIO
Year Rate
2.45%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,225 858 2 51,225 1,255 879 3 52,480 1,286 900 4 53,766 1,317 922 5 55,083 1,350 945 6 56,433 1,383 968 7 57,815 1,416 992 8 59,232 1,451 1,016 9 60,683 1,487 1,041 10 62,170 1,523 1,066 11 63,693 1,560 1,092 12 65,253 1,599 1,119 13 66,852 1,638 1,147 14 68,490 1,678 1,175 15 70,168 1,719 1,203 16 71,887 1,761 1,233 17 73,648 1,804 1,263 18 75,452 1,849 1,294 19 77,301 1,894 1,326 20 79,195 1,940 1,358 TOTAL $31,135 $21,795 - 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