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 2.83% |
Annual Interest |
Annual Interest (After Tax) |
| 1 | 50,000 | 1,415 | 991 |
| 2 | 51,415 | 1,455 | 1,019 |
| 3 | 52,870 | 1,496 | 1,047 |
| 4 | 54,366 | 1,539 | 1,077 |
| 5 | 55,905 | 1,582 | 1,107 |
| 6 | 57,487 | 1,627 | 1,139 |
| 7 | 59,114 | 1,673 | 1,171 |
| 8 | 60,787 | 1,720 | 1,204 |
| 9 | 62,507 | 1,769 | 1,238 |
| 10 | 64,276 | 1,819 | 1,273 |
| 11 | 66,095 | 1,870 | 1,309 |
| 12 | 67,965 | 1,923 | 1,346 |
| 13 | 69,889 | 1,978 | 1,384 |
| 14 | 71,867 | 2,034 | 1,424 |
| 15 | 73,901 | 2,091 | 1,464 |
| 16 | 75,992 | 2,151 | 1,505 |
| 17 | 78,143 | 2,211 | 1,548 |
| 18 | 80,354 | 2,274 | 1,592 |
| 19 | 82,628 | 2,338 | 1,637 |
| 20 | 84,966 | 2,405 | 1,683 |
| TOTAL | $37,371 | $26,160 |
All calculations are for demonstration purposes only.
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
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|
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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