Compare Analysis of Finworth, a division of InsBank with 3.20% APY and Forbright Bank with 5.30% APY and Citizens with 4.50% 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 CD$50,00021 Month3.20%N.A.$50,000Online Bank-SCENARIO
Year Rate
3.20%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,600 1,120 2 51,600 1,651 1,156 3 53,251 1,704 1,193 4 54,955 1,759 1,231 5 56,714 1,815 1,270 6 58,529 1,873 1,311 7 60,402 1,933 1,353 8 62,334 1,995 1,396 9 64,329 2,059 1,441 10 66,388 2,124 1,487 11 68,512 2,192 1,535 12 70,704 2,263 1,584 13 72,967 2,335 1,634 14 75,302 2,410 1,687 15 77,712 2,487 1,741 16 80,198 2,566 1,796 17 82,765 2,648 1,854 18 85,413 2,733 1,913 19 88,146 2,821 1,974 20 90,967 2,911 2,038 TOTAL $43,878 $30,715 - 2LOCAL SAVINGS$50,000N.A.5.30%9.65x (National Avg. - 0.55%)$0Bank-SCENARIO
Year Rate
5.30%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,650 1,855 2 52,650 2,790 1,953 3 55,440 2,938 2,057 4 58,379 3,094 2,166 5 61,473 3,258 2,281 6 64,731 3,431 2,402 7 68,162 3,613 2,529 8 71,774 3,804 2,663 9 75,578 4,006 2,804 10 79,584 4,218 2,953 11 83,802 4,441 3,109 12 88,243 4,677 3,274 13 92,920 4,925 3,447 14 97,845 5,186 3,630 15 103,031 5,461 3,822 16 108,491 5,750 4,025 17 114,242 6,055 4,238 18 120,296 6,376 4,463 19 126,672 6,714 4,700 20 133,386 7,069 4,949 TOTAL $90,455 $63,319 - 3ONLINE SAVINGS$50,000N.A.4.50%8.20x (National Avg. - 0.55%)$1Online Bank-SCENARIO
Year Rate
4.50%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,250 1,575 2 52,250 2,351 1,646 3 54,601 2,457 1,720 4 57,058 2,568 1,797 5 59,626 2,683 1,878 6 62,309 2,804 1,963 7 65,113 2,930 2,051 8 68,043 3,062 2,143 9 71,105 3,200 2,240 10 74,305 3,344 2,341 11 77,648 3,494 2,446 12 81,143 3,651 2,556 13 84,794 3,816 2,671 14 88,610 3,987 2,791 15 92,597 4,167 2,917 16 96,764 4,354 3,048 17 101,119 4,550 3,185 18 105,669 4,755 3,329 19 110,424 4,969 3,478 20 115,393 5,193 3,635 TOTAL $70,586 $49,410