High-Yield Savings Account Calculator
See how a high-yield savings account grows. Add an opening balance, monthly deposits and APY to project the future balance and interest — versus the 0.42% national-average rate.
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Learn moreWhy the rate matters
Most big-bank savings accounts pay near the 0.42% national average, while online high-yield accounts often pay 10 times that. On a growing balance over years, the gap compounds into real money — with no lock-up and full liquidity. High-yield savings is ideal for an emergency fund and short-term goals.
How it’s calculated & sources
Balance compounds monthly at APY divided by 12 with your monthly deposit added each month. Interest = ending balance − total deposited. Compared to the FDIC national-average savings rate.
Benchmark: FDIC national average savings rate about 0.42 percent; leading high-yield accounts about 4 to 5 percent APY (2026).
Results update as you type and are general estimates, not personalized advice. Verify with a professional.
Worked example
Starting at $5,000, adding $200/month at 4.5% APY for 5 years grows to about $19,600 — roughly $2,600 of it interest, versus a few hundred at the 0.42% average.
Frequently asked questions
Is high-yield savings safe?
Yes at an FDIC-insured bank, up to $250,000 per depositor, per bank. The rate is variable and can change.
How is it different from a CD?
Savings stays liquid and the rate floats; a CD locks both your money and the rate for a set term.
How often does interest compound?
Most high-yield accounts compound daily or monthly and pay monthly; this model uses monthly compounding.