High-Yield Savings Calculator
See how much more you’d earn in a high-yield savings account than a regular one.
–
Extra interest
- High-yield balance
- Regular balance
- Total deposited
- Interest earned
- Work
Saved Calculations
Items you add are saved in this browser.
| Name | Calculation | Result | Remove |
|---|
How Savings Interest Adds Up
Monthly rate = (1 + APY)^(1/12) − 1 Balance grows by the monthly rate, then the deposit is added
APY already includes compounding, so the monthly rate is backed out of it.
Worked Example
Tips
High-yield rates are variable and can change at any time; the national average savings rate is much lower. Check that the bank is FDIC insured (or the credit union NCUA insured). Interest is taxable.