High Yield Savings Calculator
Compare what your savings earn at your current APY and at a high-yield account over the same years.
Free · No sign-up · Your inputs stay in your browser
Your numbers
Compare two savings yields
Your projection
$3,641 more at the higher rate
At the high-yield APY
$32,020
At your current APY
$28,379
Interest earned, high-yield
$4,020
Savings rates are variable and change without notice. The projection holds both rates constant and ignores tax on interest, which is ordinary income.
About this tool
Method, assumptions, practical next steps, and limits.
Same money, different rate
Savings accounts at the largest banks often pay a fraction of what online banks and credit unions pay for the same insured deposit. The difference compounds quietly.
How the calculation works
Monthly rate = (1 + APY)^(1/12) − 1, applied to the balance each month before the deposit is added.
$10,000 plus $300 a month for five years grows to about $32,020 at 4.00% APY and $28,379 at 0.40%. The higher rate earns $3,641 more on identical deposits.
What the number leaves out
Savings rates are variable and can fall at any time. Interest is taxed as ordinary income. Check that the bank is FDIC-insured, or the credit union NCUA-insured, and stay within the $250,000 coverage limit per depositor, per bank, per ownership category.
The FDIC publishes national average deposit rates each month, which is a useful check on what your current bank pays.
