Compare Analysis of Western Commerce Bank with 0.13% 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.

  • 1
    LOCAL SAVINGS
    Western Commerce Bank
    $50,000
    N.A.
    0.13%
    0.60x (National Avg. - 0.22%)
    $200
    Bank
    -
     
    SCENARIO
    Year Rate
    0.13%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 65 46
    2 50,065 65 46
    3 50,130 65 46
    4 50,195 65 46
    5 50,261 65 46
    6 50,326 65 46
    7 50,391 66 46
    8 50,457 66 46
    9 50,522 66 46
    10 50,588 66 46
    11 50,654 66 46
    12 50,720 66 46
    13 50,786 66 46
    14 50,852 66 46
    15 50,918 66 46
    16 50,984 66 46
    17 51,050 66 46
    18 51,117 66 47
    19 51,183 67 47
    20 51,250 67 47
    TOTAL $1,316 $921
  • 2
    LOCAL SAVINGS
    Forbright Bank , ★ TOP PICK ★
    $50,000
    N.A.
    5.15%
    23.95x (National Avg. - 0.22%)
    $0
    Bank
    -
    SCENARIO
    Year Rate
    5.15%    		 Annual
    Interest    		 Annual 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