Compare Analysis of Midwest Members with 0.55% 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$50,00015 Month0.55%N.A.$1,000Credit Union-SCENARIO
Year Rate
0.55%Annual
InterestAnnual Interest
(After Tax)1 50,000 275 193 2 50,275 277 194 3 50,552 278 195 4 50,830 280 196 5 51,109 281 197 6 51,390 283 198 7 51,673 284 199 8 51,957 286 200 9 52,243 287 201 10 52,530 289 202 11 52,819 291 203 12 53,110 292 204 13 53,402 294 206 14 53,695 295 207 15 53,991 297 208 16 54,288 299 209 17 54,586 300 210 18 54,886 302 211 19 55,188 304 212 20 55,492 305 214 TOTAL $5,797 $4,058 - 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