Compare Analysis of Commercial State Bank with 3.26% 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$50,00048 Month3.26%3.43x (National Avg. - 0.95%)$1,000Bank-SCENARIO
Year Rate
3.26%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,630 1,141 2 51,630 1,683 1,178 3 53,313 1,738 1,217 4 55,051 1,795 1,256 5 56,846 1,853 1,297 6 58,699 1,914 1,340 7 60,613 1,976 1,383 8 62,589 2,040 1,428 9 64,629 2,107 1,475 10 66,736 2,176 1,523 11 68,911 2,247 1,573 12 71,158 2,320 1,624 13 73,478 2,395 1,677 14 75,873 2,473 1,731 15 78,347 2,554 1,788 16 80,901 2,637 1,846 17 83,538 2,723 1,906 18 86,261 2,812 1,968 19 89,073 2,904 2,033 20 91,977 2,998 2,099 TOTAL $44,976 $31,483 - 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