Compare Analysis of CFG Bank with 5.02% APY and Chevron with 7.00% 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
    ONLINE SAVINGS
    CFG Bank
    $50,000
    N.A.
    5.02%
    36.91x (National Avg. - 0.14%)
    $1,000
    Online Bank
    -
     
    SCENARIO
    Year Rate
    5.02%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 2,510 1,757
    2 52,510 2,636 1,845
    3 55,146 2,768 1,938
    4 57,914 2,907 2,035
    5 60,822 3,053 2,137
    6 63,875 3,207 2,245
    7 67,081 3,367 2,357
    8 70,449 3,537 2,476
    9 73,985 3,714 2,600
    10 77,699 3,901 2,730
    11 81,600 4,096 2,867
    12 85,696 4,302 3,011
    13 89,998 4,518 3,163
    14 94,516 4,745 3,321
    15 99,261 4,983 3,488
    16 104,244 5,233 3,663
    17 109,477 5,496 3,847
    18 114,973 5,772 4,040
    19 120,744 6,061 4,243
    20 126,806 6,366 4,456
    TOTAL $83,171 $58,220
  • 2
    LOCAL SAVINGS
    Chevron
    $50,000
    N.A.
    7.00%
    51.47x (National Avg. - 0.14%)
    $25
    Credit Union
    -
     
    SCENARIO
    Year Rate
    7.00%    		 Annual
    Interest    		 Annual Interest
    (After Tax)
    1 50,000 3,500 2,450
    2 53,500 3,745 2,622
    3 57,245 4,007 2,805
    4 61,252 4,288 3,001
    5 65,540 4,588 3,211
    6 70,128 4,909 3,436
    7 75,037 5,253 3,677
    8 80,289 5,620 3,934
    9 85,909 6,014 4,210
    10 91,923 6,435 4,504
    11 98,358 6,885 4,820
    12 105,243 7,367 5,157
    13 112,610 7,883 5,518
    14 120,492 8,434 5,904
    15 128,927 9,025 6,317
    16 137,952 9,657 6,760
    17 147,608 10,333 7,233
    18 157,941 11,056 7,739
    19 168,997 11,830 8,281
    20 180,826 12,658 8,860
    TOTAL $143,484 $100,439