Compare Analysis of Midwest Members with 0.70% APY and North American Savings Bank, F.S.B. with 5.25% APY and North American Savings Bank with 5.35% 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 Month0.70%N.A.$100,000Credit Union-SCENARIO
Year Rate
0.70%Annual
InterestAnnual Interest
(After Tax)1 50,000 350 245 2 50,350 352 247 3 50,702 355 248 4 51,057 357 250 5 51,415 360 252 6 51,775 362 254 7 52,137 365 255 8 52,502 368 257 9 52,870 370 259 10 53,240 373 261 11 53,612 375 263 12 53,988 378 265 13 54,366 381 266 14 54,746 383 268 15 55,129 386 270 16 55,515 389 272 17 55,904 391 274 18 56,295 394 276 19 56,689 397 278 20 57,086 400 280 TOTAL $7,486 $5,240 - 2LOCAL CD$50,0007 Month5.25%N.A.$5,000Bank-SCENARIO
Year Rate
5.25%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,625 1,838 2 52,625 2,763 1,934 3 55,388 2,908 2,036 4 58,296 3,061 2,142 5 61,356 3,221 2,255 6 64,577 3,390 2,373 7 67,968 3,568 2,498 8 71,536 3,756 2,629 9 75,292 3,953 2,767 10 79,244 4,160 2,912 11 83,405 4,379 3,065 12 87,784 4,609 3,226 13 92,392 4,851 3,395 14 97,243 5,105 3,574 15 102,348 5,373 3,761 16 107,721 5,655 3,959 17 113,377 5,952 4,167 18 119,329 6,265 4,385 19 125,594 6,594 4,616 20 132,187 6,940 4,858 TOTAL $89,127 $62,389 - 3LOCAL CD$50,00012 Month5.35%9.55x (National Avg. - 0.56%)$5,000Bank-SCENARIO
Year Rate
5.35%Annual
InterestAnnual Interest
(After Tax)1 50,000 2,675 1,873 2 52,675 2,818 1,973 3 55,493 2,969 2,078 4 58,462 3,128 2,189 5 61,590 3,295 2,307 6 64,885 3,471 2,430 7 68,356 3,657 2,560 8 72,013 3,853 2,697 9 75,866 4,059 2,841 10 79,925 4,276 2,993 11 84,201 4,505 3,153 12 88,705 4,746 3,322 13 93,451 5,000 3,500 14 98,451 5,267 3,687 15 103,718 5,549 3,884 16 109,267 5,846 4,092 17 115,113 6,159 4,311 18 121,271 6,488 4,542 19 127,759 6,835 4,785 20 134,594 7,201 5,041 TOTAL $91,795 $64,256