Compare Savings vs. CDs
Comparison of Deposit Account from First Security Bank - Sleepy Eye with 0.35% - May 2024


Long-Term Analysis of Mission Bank with 0.48% APY and First Security Bank - Sleepy Eye with 0.35% APY and Capitol Federal Savings Bank with 2.49% APY and LAUNCH CREDIT UNION with 1.26% 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.

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$
PRODUCT
BANK
APY
STATE
AMOUNT
TERM
BANK TYPE
VS.NAT.AV.
MIN
  • 1
    LOCAL CD
    0.48%
    -
    $50,000
    60 Month
    Bank
    0.53x (National Avg. - 0.91%)
    $10,000
     
    SCENARIO
    Year Rate
    0.48%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 240 168
    2 50,240 241 169
    3 50,481 242 170
    4 50,723 243 170
    5 50,967 245 171
    6 51,212 246 172
    7 51,457 247 173
    8 51,704 248 174
    9 51,953 249 175
    10 52,202 251 175
    11 52,453 252 176
    12 52,704 253 177
    13 52,957 254 178
    14 53,211 255 179
    15 53,467 257 180
    16 53,724 258 181
    17 53,981 259 181
    18 54,240 260 182
    19 54,501 262 183
    20 54,762 263 184
    TOTAL $5,025 $3,518
  • 2
    LOCAL CD
    0.35%
    -
    $50,000
    24 Month
    Bank
    0.37x (National Avg. - 0.95%)
    $100,000
     
    SCENARIO
    Year Rate
    0.35%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 175 123
    2 50,175 176 123
    3 50,351 176 123
    4 50,527 177 124
    5 50,704 177 124
    6 50,881 178 125
    7 51,059 179 125
    8 51,238 179 126
    9 51,417 180 126
    10 51,597 181 126
    11 51,778 181 127
    12 51,959 182 127
    13 52,141 182 128
    14 52,323 183 128
    15 52,507 184 129
    16 52,690 184 129
    17 52,875 185 130
    18 53,060 186 130
    19 53,245 186 130
    20 53,432 187 131
    TOTAL $3,619 $2,533
  • 3
    LOCAL MONEY MARKET
    2.49%
    -
    $50,000
    N.A.
    Bank
    2.62x (National Avg. - 0.95%)
    $200,000
     
    SCENARIO
    Year Rate
    2.49%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 1,245 872
    2 51,245 1,276 893
    3 52,521 1,308 915
    4 53,829 1,340 938
    5 55,169 1,374 962
    6 56,543 1,408 986
    7 57,951 1,443 1,010
    8 59,394 1,479 1,035
    9 60,873 1,516 1,061
    10 62,388 1,553 1,087
    11 63,942 1,592 1,115
    12 65,534 1,632 1,142
    13 67,166 1,672 1,171
    14 68,838 1,714 1,200
    15 70,552 1,757 1,230
    16 72,309 1,800 1,260
    17 74,110 1,845 1,292
    18 75,955 1,891 1,324
    19 77,846 1,938 1,357
    20 79,784 1,987 1,391
    TOTAL $31,771 $22,240
  • 4
    LOCAL MONEY MARKET
    1.26%
    -
    $50,000
    N.A.
    Credit Union
    1.33x (National Avg. - 0.95%)
    $25,000
     
    SCENARIO
    Year Rate
    1.26%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 630 441
    2 50,630 638 447
    3 51,268 646 452
    4 51,914 654 458
    5 52,568 662 464
    6 53,230 671 469
    7 53,901 679 475
    8 54,580 688 481
    9 55,268 696 487
    10 55,964 705 494
    11 56,669 714 500
    12 57,384 723 506
    13 58,107 732 512
    14 58,839 741 519
    15 59,580 751 525
    16 60,331 760 532
    17 61,091 770 539
    18 61,861 779 546
    19 62,640 789 552
    20 63,429 799 559
    TOTAL $14,229 $9,960

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    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%.

    Last change: ↓0.15% on May 13.
    3 Month CD.

    Last change: ↑0.09% on March 12.
    6 Month Jumbo CD.

    Last change: ↓0.05% on May 9.

    Last change: ↓0.36% on March 12.
    Early Withdrawal Penalty is 3 months interest.