Home
Compare Products

Compare Savings vs. CDs - April 2024

Long-Term Analysis of Canadian Imperial Bank USA with 5.51% APY and Finworth, a division of InsBank with 5.38% 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.

You May Choose More Savings or CD Products From Among these Popular Products to Compare

Amount

Type

Term

State

Product Name

PRODUCT

BANK

APY

STATE

AMOUNT

TERM

BANK TYPE

VS.NAT.AV.

MIN

ONLINE CD

Canadian Imperial Bank USA

5.51%

$50,000

12 Month

Online Bank

9.95x (National Avg. - 0.55%)

$25,000

SCENARIO

Year	Rate 5.51%	Annual Interest	Annual Interest (After Tax)
1	50,000	2,755	1,929
2	52,755	2,907	2,035
3	55,662	3,067	2,147
4	58,729	3,236	2,265
5	61,965	3,414	2,390
6	65,379	3,602	2,522
7	68,981	3,801	2,661
8	72,782	4,010	2,807
9	76,793	4,231	2,962
10	81,024	4,464	3,125
11	85,488	4,710	3,297
12	90,199	4,970	3,479
13	95,169	5,244	3,671
14	100,412	5,533	3,873
15	105,945	5,838	4,086
16	111,783	6,159	4,311
17	117,942	6,499	4,549
18	124,440	6,857	4,800
19	131,297	7,234	5,064
20	138,532	7,633	5,343
	TOTAL	$96,165	$67,315

ONLINE CD

Finworth, a division of InsBank

5.38%

$50,000

12 Month

Online Bank

9.71x (National Avg. - 0.55%)

$50,000

SCENARIO

Year	Rate 5.38%	Annual Interest	Annual Interest (After Tax)
1	50,000	2,690	1,883
2	52,690	2,835	1,984
3	55,525	2,987	2,091
4	58,512	3,148	2,204
5	61,660	3,317	2,322
6	64,977	3,496	2,447
7	68,473	3,684	2,579
8	72,157	3,882	2,717
9	76,039	4,091	2,864
10	80,130	4,311	3,018
11	84,441	4,543	3,180
12	88,984	4,787	3,351
13	93,771	5,045	3,531
14	98,816	5,316	3,721
15	104,132	5,602	3,922
16	109,734	5,904	4,133
17	115,638	6,221	4,355
18	121,859	6,556	4,589
19	128,416	6,909	4,836
20	135,324	7,280	5,096
	TOTAL	$92,605	$64,823

All calculations are for demonstration purposes only.

Featured CD Rates

ONLINE BANKS	APY^?	MIN^?
Blue Foundry Bank	6.00%	$5,000	Learn More
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%.
TotalDirect, a division of City National Bank of Florida	5.66%	$25,000	Learn More
Last change: ↑0.46% on December 15, 2023. 3 Month CD.
Bank5 Connect	5.50%	$500	Learn More
Last change: ↑0.20% on September 8, 2023. 6 Month CD.
Modern Bank, National Association	5.50%	$10,000	Learn More
Last change: ↓0.05% on March 15. 3 Month CD.
My e-Banc, a division of Bradesco BAC Florida Bank	5.49%	$50,000	Learn More
Last change: ↑0.09% on March 12. 6 Month Jumbo CD.