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 2.42% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 1,210 | 847 |
| 2 | 51,210 | 1,239 | 867 |
| 3 | 52,449 | 1,269 | 888 |
| 4 | 53,719 | 1,300 | 910 |
| 5 | 55,019 | 1,331 | 932 |
| 6 | 56,350 | 1,364 | 955 |
| 7 | 57,714 | 1,397 | 978 |
| 8 | 59,110 | 1,430 | 1,001 |
| 9 | 60,541 | 1,465 | 1,026 |
| 10 | 62,006 | 1,501 | 1,050 |
| 11 | 63,506 | 1,537 | 1,076 |
| 12 | 65,043 | 1,574 | 1,102 |
| 13 | 66,617 | 1,612 | 1,128 |
| 14 | 68,229 | 1,651 | 1,156 |
| 15 | 69,881 | 1,691 | 1,184 |
| 16 | 71,572 | 1,732 | 1,212 |
| 17 | 73,304 | 1,774 | 1,242 |
| 18 | 75,078 | 1,817 | 1,272 |
| 19 | 76,895 | 1,861 | 1,303 |
| 20 | 78,755 | 1,906 | 1,334 |
| TOTAL | $30,661 | $21,463 |
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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