High-yield savings account calculator
See what a high-yield savings account grows to at today’s higher APYs.
Runs 100% in your browser- Future balance
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- Total deposited
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- Interest earned
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How to calculate high-yield savings growth
- Enter your balance. Add your starting balance and any monthly deposit.
- Enter the APY. Use the account’s advertised APY and the number of years.
- Compare the growth. See the future balance and the interest the higher rate earns.
What makes an account "high-yield"
A high-yield savings account (HYSA) is an ordinary, FDIC-insured deposit account that pays many times the rate of a typical big-bank savings account — the difference is usually online-only overheads, not extra risk. Most are quoted in APY, the effective annual yield that already bakes in compounding, so you can take the number at face value. This calculator projects a starting balance plus a monthly deposit forward at the APY you enter, which is the realistic shape of most savers' use: a balance that both earns and keeps growing from new contributions. The gap between a 0.4% legacy account and a 4%+ HYSA on a five-figure balance is real money every year, for the same insured safety.
Where a HYSA fits — and where it doesn't
The sweet spot is money you need to stay liquid and safe: an emergency fund, a near-term house deposit, or cash waiting to be deployed. It keeps the balance accessible while a higher APY narrows the gap against inflation that a low-rate account quietly loses to. What a HYSA is not is a long-term growth vehicle — over decades its rate trails what diversified investing has historically returned, so it is the wrong home for retirement money. If you can lock funds away for a fixed term and want a guaranteed rate instead of a variable one, compare against a CD.
The catch with a variable rate
A HYSA's APY is variable: banks can — and do — change it whenever central-bank rates move, so the headline rate you open with is not guaranteed for the life of the projection. Treat the figure here as today's rate held flat, and re-check it when policy shifts. Watch for introductory "teaser" rates that drop after a few months, balance tiers, and the fact that interest is generally taxable, making this a pre-tax estimate. If a bank quotes a nominal APR rather than APY, convert it first with the APY calculator so you are comparing like with like.
Educational tool only — not financial advice. Rates change and interest is generally taxable; figures are pre-tax estimates.
Frequently asked questions
- A high-yield savings account (HYSA) pays a much higher APY than a typical bank savings account — often several percent — while keeping your money liquid and, at US banks, FDIC-insured. This tool shows what your balance grows to at that higher rate.
- APY already includes the effect of compounding, so it’s the figure to compare savings accounts by. Enter the account’s advertised APY here.
- Try changing the APY and watch the interest figure — the gap between, say, 0.5% and 4.5% compounds into a large difference over years, especially with regular deposits.
- No — savings interest is generally taxable; the figures are pre-tax. Use the inflation calculator to see real (after-inflation) value.
- No — it computes in your browser.