High Yield Savings Calculator
This high yield savings calculator shows how much a high-yield savings account (HYSA) can earn over time. Enter your starting balance, monthly deposit, APY, and time frame in the calculator above to see your projected balance.
It separates the money you contribute from the interest you earn, so the growth is easy to follow. Remember that HYSA rates are variable and can rise or fall at any time.
How it's calculated
A high-yield savings account pays interest on your balance, and that interest compounds. Compounding means you earn interest on your past interest, not just your deposits. The calculator above grows your starting balance and each monthly deposit at your chosen APY, compounded monthly, then totals the result. To go deeper on compounding, try the compound interest calculator.
Focus on the APY, not the plain interest rate. The Consumer Financial Protection Bureau notes that APY already reflects how often interest compounds. Because APY bakes in compounding, you can compare one account's APY directly to another's. To plan toward a target balance, use the savings goal calculator.
A worked example
Say you start with $10,000 and add $300 every month to a HYSA earning 4.5% APY, compounded monthly. After 10 years, the calculator projects a balance of $61,029.
You contributed $46,000 of that yourself: the $10,000 start plus $300 a month for 120 months. The remaining $15,029 is interest earned.
That extra growth comes from compounding, but note the 4.5% APY is not guaranteed, since HYSA rates can change over time.
Common mistakes to avoid
- Comparing a plain interest rate to an APY. APY already includes compounding, so always compare APY to APY.
- Assuming the rate is fixed. HYSA rates are variable and can drop when the bank chooses, which lowers future earnings.
- Treating a HYSA like a long-term investment. It is great for an emergency fund but usually trails long-term stock market returns.
- Ignoring the FDIC limit. Insurance covers $250,000 per depositor, per bank, per ownership category, so large balances at one bank may exceed it.
- Forgetting that interest is taxable. Savings interest is generally taxed as income, so your after-tax gain is smaller than the calculator shows.
Frequently asked questions
How accurate is this high yield savings calculator?
This high yield savings calculator is accurate for the inputs you enter, using monthly compounding. Real results will differ because HYSA rates are variable and can change at any time. Treat the projection as an estimate, not a guarantee.
What is the difference between APY and interest rate?
The interest rate is the base percentage your balance earns. APY (annual percentage yield) includes the effect of compounding, so it shows your true yearly return. The CFPB confirms APY reflects how often interest compounds. Always compare accounts by APY.
Is my money in a high-yield savings account safe?
Money in an FDIC-insured bank is protected up to $250,000 per depositor, per bank, per ownership category. That covers savings, checking, money market, and CD balances. If you hold more than the limit, spread it across banks or ownership categories to stay fully insured.
Is a high-yield savings account a good investment?
A HYSA is a strong place for an emergency fund and short-term savings, since the balance is safe and easy to reach. But it usually trails long-term stock market returns. For long-term goals, compare with the investment growth calculator.
Do high-yield savings rates change?
Yes. HYSA rates are variable, so a bank can raise or lower the APY at any time. A rate that looks great today may drop later. The national average savings rate was just 0.38% as of June 2026, so shop around for a higher APY.