Compare Savings vs. CDs
Comparison of Deposit Account from VELOCITY COMMUNITY with 3.00% - October 2024


Long-Term Analysis of VELOCITY COMMUNITY with 3.00% 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
    3.00%
    -
    $50,000
    36 Month
    Credit Union
    3.99x (National Avg. - 0.75%)
    $5,000
     
    SCENARIO
    Year Rate
    3.00%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 1,500 1,050
    2 51,500 1,545 1,082
    3 53,045 1,591 1,114
    4 54,636 1,639 1,147
    5 56,275 1,688 1,182
    6 57,964 1,739 1,217
    7 59,703 1,791 1,254
    8 61,494 1,845 1,291
    9 63,339 1,900 1,330
    10 65,239 1,957 1,370
    11 67,196 2,016 1,411
    12 69,212 2,076 1,453
    13 71,288 2,139 1,497
    14 73,427 2,203 1,542
    15 75,629 2,269 1,588
    16 77,898 2,337 1,636
    17 80,235 2,407 1,685
    18 82,642 2,479 1,735
    19 85,122 2,554 1,788
    20 87,675 2,630 1,841
    TOTAL $40,306 $28,214

    All calculations are for demonstration purposes only.

    Featured CD Rates

    ONLINE BANKS APY? MIN?

    Last change: ↑0.05% on August 24.
    Warning: Early withdrawal penalty equals six months of interest.

    Last change: ↓0.45% on May 13.
    6 Month CD.

    Last change: ↓0.10% on October 7.

    Last change: ↓0.51% on October 1.
    3 Month CD.