Compare Analysis of West Union Bank with 0.16% 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 MONEY MARKET$50,000N.A.0.16%0.75x (National Avg. - 0.22%)$25,000Bank-SCENARIO
Year Rate
0.16%Annual
InterestAnnual Interest
(After Tax)1 50,000 81 57 2 50,081 81 57 3 50,162 81 57 4 50,243 81 57 5 50,325 82 57 6 50,406 82 57 7 50,488 82 57 8 50,570 82 57 9 50,652 82 57 10 50,734 82 58 11 50,816 82 58 12 50,898 82 58 13 50,981 83 58 14 51,063 83 58 15 51,146 83 58 16 51,229 83 58 17 51,312 83 58 18 51,395 83 58 19 51,478 83 58 20 51,562 84 58 TOTAL $1,645 $1,152 - 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