High-Yield Savings Account Calculator (HYSA)
A high-yield savings calculator projects how an opening balance and regular monthly deposits may grow at a stated annual percentage yield. Use it to compare savings rates and contribution plans while remembering that variable account rates can change.
Quick answer
APY and regular deposits both matter: a higher rate helps, but consistent monthly saving usually contributes most of the ending balance over short and medium periods.
At a glance
- What it calculates
- Project the future balance and interest earned in a high-yield savings account.
- Who it is for
- US savers comparing high-yield savings accounts, money market accounts and CD alternatives on APY.
- Coverage
- United States (federal rules; state and local rules vary)
- Data and assumptions
- Monthly compounding of the entered annual percentage yield, deposits made at the end of each month, no fees, no rate changes and no tax withheld.
- Cost
- Free, no signup, calculations run in your browser
- Last reviewed
- 2026-07-09
Calculator
How to use this calculator
- Enter the amount already saved.
- Enter the monthly deposit and expected APY.
- Choose the saving period.
- Review deposits, interest, and ending balance.
Explanation
What it is
A high-yield savings calculator projects how an opening balance and regular monthly deposits may grow at a stated annual percentage yield. Use it to compare savings rates and contribution plans while remembering that variable account rates can change.
How it works
The calculator compounds a monthly equivalent of the stated annual yield and adds each monthly deposit at the end of the month.
When to use it
Use it when comparing high-yield savings accounts, or when deciding how much of an emergency fund to keep in cash at a given APY.
Limitations
- APYs on savings accounts are variable and can change without notice.
- Interest is taxable income in the year it is credited; the result is pre-tax.
- Bonus offers, tiered rates and balance caps are not modelled.
Key terms
- APY
- Annual percentage yield, which reflects compounding over a year.
- Variable rate
- An account rate that a bank may change after opening.
- Compound interest
- Interest earned on principal and previously credited interest.
- Deposit insurance
- Protection subject to institution, account ownership, and legal limits.
Formula
The calculator compounds a monthly equivalent of the stated annual yield and adds each monthly deposit at the end of the month.
Worked example
Starting with $10,000 and adding $500 monthly at 4.25% for five years produces a projected balance above total deposits because interest is earned on both the opening balance and prior interest.
FAQ
How much will $10,000 earn in a high-yield savings account?
The answer depends on APY and time. At 4.25% for one year, the interest would be roughly $425 before taxes if the rate remained constant.
Is APY guaranteed?
Usually not for a savings account. Banks can change variable rates, so long projections are scenarios rather than promises.
How often does a savings account compound?
Policies vary. Many accounts calculate interest daily and credit it monthly; APY allows easier annual comparison.
Is high-yield savings interest taxable?
Interest is generally taxable for US federal income tax purposes, although individual circumstances vary.
How is a high-yield savings account different from a CD?
Savings accounts usually allow more access and variable rates, while CDs commonly lock funds for a term at a stated rate and may charge early-withdrawal penalties.
What is a HYSA calculator?
A HYSA calculator projects the balance and interest of a high-yield savings account from an opening deposit, monthly contributions and an annual percentage yield. It shows the compounding effect that a simple interest figure misses.
How much will $50,000 earn in a high-yield savings account?
At a 4.00% APY and no further deposits, $50,000 earns roughly $2,000 in the first year and about $10,833 over five years. Because savings APYs are variable, the actual amount changes when the rate moves.
Is APY better to compare than the interest rate?
Yes. APY includes the effect of compounding within the year, so two accounts with the same nominal rate but different compounding frequencies have different APYs. Comparing APY to APY is the accurate comparison.
Common mistakes
- Treating a variable APY as if it were locked for the full saving period.
- Missing minimum balance, direct deposit or transaction conditions attached to the headline rate.
- Ignoring federal and state income tax on interest earned.
- Comparing a promotional intro APY with a standard ongoing APY.
Tips
- Compare accounts on APY, which already includes the compounding effect, rather than on the nominal rate.
- Check whether the advertised APY applies to the whole balance or only up to a cap.
- Confirm the account is FDIC or NCUA insured and note the $250,000 per depositor limit.
- Re-run the projection when the Federal Reserve moves rates, because savings APYs are variable.
Sources and editorial review
Educational estimates only; not personalized financial, tax, legal, lending, investment, or insurance advice.