APY Calculator
Calculate the future value of a savings account given a starting balance, an annual percentage yield (APY), a time horizon, and optional monthly contributions. APY accounts for the effect of compound interest within the year, so the projected final balance reflects what you would actually earn — not just the simple interest figure.
Year-by-year breakdown
| Year | Starting Balance | Contributions | Interest Earned | Ending Balance |
|---|---|---|---|---|
| Year 1 | $10,000 | $2,400 | +$520 | $12,920 |
| Year 2 | $12,920 | $2,400 | +$654 | $15,974 |
| Year 3 | $15,974 | $2,400 | +$795 | $19,168 |
| Year 4 | $19,168 | $2,400 | +$942 | $22,510 |
| Year 5 | $22,510 | $2,400 | +$1,095 | $26,005 |
| Year 6 | $26,005 | $2,400 | +$1,256 | $29,662 |
| Year 7 | $29,662 | $2,400 | +$1,425 | $33,486 |
| Year 8 | $33,486 | $2,400 | +$1,601 | $37,487 |
| Year 9 | $37,487 | $2,400 | +$1,785 | $41,672 |
| Year 10 | $41,672 | $2,400 | +$1,977 | $46,049 |
How to read the result
The final balance is your starting balance plus all contributions, plus accumulated interest. The interest earned line shows how much of the final balance came from compounding rather than from your contributions. The year-by-year breakdown shows you when the compounding effect starts to matter — for typical HYSAs, the curve is nearly linear in the first few years and only visibly steepens after about year five.
What to change to see different scenarios
- APY. The biggest lever for long horizons. Moving from 0.5% (a typical brick-and-mortar savings rate) to 4.5% (a competitive HYSA) on $10,000 over 10 years swings the interest earned from roughly $510 to roughly $5,540.
- Time. Compound growth is exponential. Doubling the horizon from 10 to 20 years more than doubles the interest earned at the same APY.
- Monthly contributions. Recurring deposits dwarf the starting balance over long horizons. $200/month for 30 years at 4.5% APY grows to over $150,000.
Compounding frequency
Most online savings accounts compound interest daily and credit it to your account monthly. The difference between daily and monthly compounding at typical rates is small — about $4 per month on $10,000 at 4.5% over 10 years — but daily is slightly better for the saver. CDs and money market accounts vary by institution.
Current US high-yield savings account rates
Typical range across leading online high-yield savings accounts. Rates change frequently — verify the current rate at the institution before opening an account.
See top banks →Current rates at these banks may fall outside the range shown above — verify at the institution.
- · Direct deposit bonus eligible
- · FDIC insured via partner banks
- · No monthly fee
- · Same-day transfers (limits apply)
- · No minimum balance
- · No monthly fee
- · No minimum balance
- · Telephone customer service
- · No monthly fee
These are widely-recognized banks offering high-yield savings accounts. APYCalculator does not earn commissions on links from this site and is not affiliated with any of these institutions.