Compare Savings vs. CDs
Comparison of Deposit Account from THE SUMMIT with 4.07% - April 2024


Long-Term Analysis of THE SUMMIT with 4.07% 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
    4.07%
    -
    $50,000
    18 Month
    Credit Union
    6.97x (National Avg. - 0.58%)
    $75,000
     
    SCENARIO
    Year Rate
    4.07%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 2,033 1,423
    2 52,033 2,116 1,481
    3 54,149 2,202 1,541
    4 56,350 2,291 1,604
    5 58,642 2,384 1,669
    6 61,026 2,481 1,737
    7 63,507 2,582 1,808
    8 66,089 2,687 1,881
    9 68,777 2,796 1,958
    10 71,573 2,910 2,037
    11 74,483 3,028 2,120
    12 77,512 3,152 2,206
    13 80,663 3,280 2,296
    14 83,943 3,413 2,389
    15 87,356 3,552 2,486
    16 90,908 3,696 2,587
    17 94,604 3,847 2,693
    18 98,451 4,003 2,802
    19 102,454 4,166 2,916
    20 106,620 4,335 3,035
    TOTAL $60,955 $42,669

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    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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    Warning: Early Withdrawal Penalty is 12 Months interest.

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