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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| Year | Rate 1.01% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 503 | 352 |
| 2 | 50,503 | 508 | 355 |
| 3 | 51,010 | 513 | 359 |
| 4 | 51,523 | 518 | 362 |
| 5 | 52,041 | 523 | 366 |
| 6 | 52,564 | 528 | 370 |
| 7 | 53,092 | 534 | 374 |
| 8 | 53,625 | 539 | 377 |
| 9 | 54,164 | 544 | 381 |
| 10 | 54,709 | 550 | 385 |
| 11 | 55,258 | 555 | 389 |
| 12 | 55,814 | 561 | 393 |
| 13 | 56,375 | 567 | 397 |
| 14 | 56,941 | 572 | 401 |
| 15 | 57,514 | 578 | 405 |
| 16 | 58,092 | 584 | 409 |
| 17 | 58,675 | 590 | 413 |
| 18 | 59,265 | 596 | 417 |
| 19 | 59,861 | 602 | 421 |
| 20 | 60,462 | 608 | 425 |
| TOTAL | $11,070 | $7,749 |
All calculations are for demonstration purposes only.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
|
6.00% |
$5,000 |
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6 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%. |
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|
|
5.66% |
$25,000 |
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Last change: ↑0.46% on December 15, 2023. |
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|
|
5.60% |
$500 |
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Last change: ↑0.60% on April 19. |
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|
|
5.50% |
$500 |
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Last change: ↑0.20% on September 8, 2023. |
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|
|
5.50% |
$10,000 |
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Last change: ↓0.05% on March 15. |
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