Compare Savings vs. CDs
Comparison of Deposit Account from SUMMIT with 1.39% - November 2024


Long-Term Analysis of SUMMIT with 1.39% 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 MONEY MARKET
    1.39%
    -
    $50,000
    N.A.
    Credit Union
    N.A.
    $200,000
     
    SCENARIO
    Year Rate
    1.39%
    Annual
    Interest
    Annual Interest
    (After Tax)
    1 50,000 695 487
    2 50,695 705 493
    3 51,400 714 500
    4 52,114 724 507
    5 52,839 734 514
    6 53,573 745 521
    7 54,318 755 529
    8 55,073 766 536
    9 55,838 776 543
    10 56,614 787 551
    11 57,401 798 559
    12 58,199 809 566
    13 59,008 820 574
    14 59,828 832 582
    15 60,660 843 590
    16 61,503 855 598
    17 62,358 867 607
    18 63,225 879 615
    19 64,104 891 624
    20 64,995 903 632
    TOTAL $15,898 $11,129

    All calculations are for demonstration purposes only.

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