Compare Analysis of CFG Bank with 1.02% APY and Ivy Bank with 0.85% 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.
- 1ONLINE SAVINGS$50,000N.A.1.02%8.95x (National Avg. - 0.11%)$1,000Online Bank-SCENARIO
Year Rate
1.02%Annual
InterestAnnual Interest
(After Tax)1 50,000 510 357 2 50,510 515 361 3 51,025 520 364 4 51,546 526 368 5 52,071 531 372 6 52,603 537 376 7 53,139 542 379 8 53,681 548 383 9 54,229 553 387 10 54,782 559 391 11 55,341 564 395 12 55,905 570 399 13 56,475 576 403 14 57,051 582 407 15 57,633 588 412 16 58,221 594 416 17 58,815 600 420 18 59,415 606 424 19 60,021 612 429 20 60,633 618 433 TOTAL $11,252 $7,876 - 2ONLINE SAVINGS$50,000N.A.0.85%7.46x (National Avg. - 0.11%)$2,500Online Bank-SCENARIO
Year Rate
0.85%Annual
InterestAnnual Interest
(After Tax)1 50,000 425 298 2 50,425 429 300 3 50,854 432 303 4 51,286 436 305 5 51,722 440 308 6 52,161 443 310 7 52,605 447 313 8 53,052 451 316 9 53,503 455 318 10 53,958 459 321 11 54,416 463 324 12 54,879 466 327 13 55,345 470 329 14 55,816 474 332 15 56,290 478 335 16 56,769 483 338 17 57,251 487 341 18 57,738 491 344 19 58,229 495 346 20 58,724 499 349 TOTAL $9,223 $6,456