See what a HYSA pays against an ordinary account, using the APY on your own offer
Estimates only, not financial advice. What you type stays on your device. Updated on 25 Oct 2026.High-yield savings calculator: $5,000 plus $500 a month at 4.40% APY, the calculator's example rate, grows to $39,615.39 in 5 years, $4,615.39 of it interest. A high-yield account differs from an ordinary one only in its APY, so type the rate on your own offer, note the balance, then type your current account's rate and compare.
| In the account now | After 1 year | After 3 years | After 5 years |
|---|---|---|---|
| $5,000 | $5,220.00 | $5,689.47 | $6,201.15 |
| $10,000 | $10,440.00 | $11,378.93 | $12,402.31 |
| $25,000 | $26,100.00 | $28,447.33 | $31,005.77 |
Type what is "In the account now" and what is "Paid in every month".
Type the APY from the high-yield offer in "APY", with "APY (the advertised figure)" selected.
Note the balance and "Interest earned", then type your current account rate in "APY" to compare.
Check "Effective yield (APY)" and "Nominal rate behind it" so the two offers are compared on the same basis.
No bank's rate is quoted here: rates differ by bank and change often. Interest compounds monthly, and the APY already includes it: a year at 4.40% APY adds exactly 4.40%.
Enter an opening balance, a monthly amount and the APY on your own account. The result is the balance at the end, split into what you paid in and what the bank paid you, with a row for every year.
No rate is published anywhere on this page. High-yield savings rates follow the central bank, change without notice and differ by bank and by balance tier, so any figure printed here would be wrong within weeks and wrong for your bank on the day you read it. The rate belongs to the offer in front of you.
APY and the interest rate are kept apart, because confusing them is the commonest error in this kind of calculator. An APY is the advertised figure and already includes compounding: 1,000 at 5% APY is 1,050 after a year, whatever the compounding frequency says. A nominal rate is the figure before compounding, and 5% compounded daily produces an APY of 5.13%. Choose which one you have and the other is worked out and shown, so two accounts quoting different things can be compared honestly.
The rest of the article, and all 6 questions about Savings Calculator, are on the Savings Calculator page.
At 4.40% APY, the calculator's example rate, $10,000 left alone earns $440 in a year and $2,402.31 in five. APY already includes compounding, so one year's interest is the balance times the APY. Put in the APY on your own offer for your figure.
APR is the yearly rate before compounding; APY is what the balance grows by in a year once interest earns interest. At the calculator's example rate, 4.40% APR compounded daily is 4.50% APY, and compounded monthly 4.49%. Savings offers are quoted as APY; to enter an APR instead, choose "Interest rate before compounding" and its compounding frequency.
Not when two offers are compared on APY, because APY already includes compounding: $10,000 at 4.40% APY earns $440 in a year either way. The frequency changes only the rate before compounding behind it: 4.306% compounded daily or 4.314% compounded monthly. The calculator prints that rate for the offer you type.
Yes. Savings interest is ordinary income in the year it is credited, so it is taxed at your marginal rate. Type it in "Your marginal tax rate" under Optional and the calculator takes the tax off: $10,000 at 4.40% APY, the calculator's example rate, earns $440 in a year, and at a 22% marginal rate, for example, $96.80 of it is tax, leaving $343.20 of interest.
APY is the advertised figure and already includes compounding, so 1,000 at 5% APY is 1,050 after a year whatever the frequency. The interest rate is the figure before compounding: 5% compounded daily produces an APY of 5.13%. Compare two accounts on APY, never on the rate.
Rates follow the central bank, change without notice and differ by bank and balance tier. Any figure published here would be out of date within weeks and wrong for your own bank on the day you read it, so the rate you enter is the one from the offer in front of you.
Compare the two APYs here and look at the difference over five years. A percentage point on 20,000 is about 1,000 over that period, which is worth the afternoon it takes to open an account. Check the rate is not an introductory one that drops after six months.
Yes, even when inflation is above the rate. An emergency fund is judged on being available the same day without a loss, not on returns. The calculator says when inflation is beating your rate so the cost is visible, but the alternative is worse when the money is needed suddenly.
Formula only: no rates or limits are read from an official source.
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