Compare Savings vs. CDs
Comparison of Deposit Account from Salem Five Cents Savings Bank with 2.25% - March 2024


Long-Term Analysis of Salem Five Cents Savings Bank with 2.25% 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
    2.25%
    -
    $50,000
    60 Month
    Bank
    2.47x (National Avg. - 0.91%)
    $10,000
     
    SCENARIO
    Year Rate
    2.25%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 1,125 788
    2 51,125 1,150 805
    3 52,275 1,176 823
    4 53,452 1,203 842
    5 54,654 1,230 861
    6 55,884 1,257 880
    7 57,141 1,286 900
    8 58,427 1,315 920
    9 59,742 1,344 941
    10 61,086 1,374 962
    11 62,460 1,405 984
    12 63,866 1,437 1,006
    13 65,302 1,469 1,029
    14 66,772 1,502 1,052
    15 68,274 1,536 1,075
    16 69,810 1,571 1,100
    17 71,381 1,606 1,124
    18 72,987 1,642 1,150
    19 74,629 1,679 1,175
    20 76,309 1,717 1,202
    TOTAL $28,025 $19,618

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    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: ↑0.46% on December 15, 2023.

    Last change: ↑0.20% on September 8, 2023.

    Last change: ↓0.05% on March 15.

    Last change: ↑0.09% on March 12.