Compare Analysis of Midwest Members with 0.90% 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$50,00048 Month0.90%1.11x (National Avg. - 0.81%)$10,000Credit Union-SCENARIO
Year Rate
0.90%Annual
InterestAnnual Interest
(After Tax)1 50,000 450 315 2 50,450 454 318 3 50,904 458 321 4 51,362 462 324 5 51,824 466 326 6 52,291 471 329 7 52,761 475 332 8 53,236 479 335 9 53,715 483 338 10 54,199 488 341 11 54,687 492 345 12 55,179 497 348 13 55,675 501 351 14 56,177 506 354 15 56,682 510 357 16 57,192 515 360 17 57,707 519 364 18 58,226 524 367 19 58,750 529 370 20 59,279 534 373 TOTAL $9,813 $6,869 - 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