Compare Analysis of Westamerica Bank with 0.09% 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$50,0006 Month0.09%0.13x (National Avg. - 0.69%)$100,000Bank-SCENARIO
Year Rate
0.09%Annual
InterestAnnual Interest
(After Tax)1 50,000 45 32 2 50,045 45 32 3 50,090 45 32 4 50,135 45 32 5 50,180 45 32 6 50,225 45 32 7 50,271 45 32 8 50,316 45 32 9 50,361 45 32 10 50,406 45 32 11 50,452 45 32 12 50,497 45 32 13 50,543 45 32 14 50,588 46 32 15 50,634 46 32 16 50,679 46 32 17 50,725 46 32 18 50,771 46 32 19 50,816 46 32 20 50,862 46 32 TOTAL $908 $635 - 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