Compare Analysis of The Home Savings and Loan Company of Kenton, Ohio with 0.80% 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.
- 1LOCAL CD$50,00030 Month0.80%N.A.$100,000Bank-SCENARIO
Year Rate
0.80%Annual
InterestAnnual Interest
(After Tax)1 50,000 400 280 2 50,400 403 282 3 50,803 406 284 4 51,210 410 287 5 51,619 413 289 6 52,032 416 291 7 52,449 420 294 8 52,868 423 296 9 53,291 426 298 10 53,717 430 301 11 54,147 433 303 12 54,580 437 306 13 55,017 440 308 14 55,457 444 311 15 55,901 447 313 16 56,348 451 316 17 56,799 454 318 18 57,253 458 321 19 57,711 462 323 20 58,173 465 326 TOTAL $8,638 $6,047 - 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