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Compare Savings vs. CDs - July 2024

Long-Term Analysis of TotalDirect, a division of City National Bank of Florida with 5.35% APY and Canadian Imperial Bank USA with 5.36% 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.

You May Choose More Savings or CD Products From Among these Popular Products to Compare

Amount

Type

Term

State

Product Name

PRODUCT

BANK

APY

STATE

AMOUNT

TERM

BANK TYPE

VS.NAT.AV.

MIN

ONLINE CD

TotalDirect, a division of City National Bank of Florida

5.35%

$50,000

12 Month

Online Bank

9.55x (National Avg. - 0.56%)

$25,000

SCENARIO

Year	Rate 5.35%	Annual Interest	Annual 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

ONLINE CD

Canadian Imperial Bank USA

5.36%

$50,000

12 Month

Online Bank

9.57x (National Avg. - 0.56%)

$25,000

SCENARIO

Year	Rate 5.36%	Annual Interest	Annual Interest (After Tax)
1	50,000	2,680	1,876
2	52,680	2,824	1,977
3	55,504	2,975	2,082
4	58,479	3,134	2,194
5	61,613	3,302	2,312
6	64,916	3,479	2,436
7	68,395	3,666	2,566
8	72,061	3,862	2,704
9	75,923	4,069	2,849
10	79,993	4,288	3,001
11	84,281	4,517	3,162
12	88,798	4,760	3,332
13	93,558	5,015	3,510
14	98,572	5,283	3,698
15	103,856	5,567	3,897
16	109,422	5,865	4,106
17	115,287	6,179	4,326
18	121,467	6,511	4,557
19	127,978	6,860	4,802
20	134,837	7,227	5,059
	TOTAL	$92,064	$64,445

All calculations are for demonstration purposes only.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Blue Foundry Bank	6.00%	$5,000	Learn More
5 Month CD Special. Must be linked to a standard consumer or business checking account in which 12.6% of the total combined balance is maintained. Otherwise APY is 5.25%.
TotalDirect, a division of City National Bank of Florida	5.51%	$25,000	Learn More
Last change: ↓0.15% on May 13. 3 Month CD.
Charles Schwab Bank, SSB	5.46%	$1,000	Learn More
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Last change: ↑0.90% on May 7.