High-Yield Savings Calculator
See how much your savings can grow with a high-yield APY and monthly deposits. Results update instantly.
Written and reviewed per our independent editorial methodology.
This free savings calculator shows how much your money can grow when compound interest and monthly deposits work together. Enter your starting balance, what you add each month, your APY and a time frame, and the results update instantly, no sign-up required.
How this savings calculator works
The savings calculator takes your annual percentage yield (APY) as the true yearly return, converts it to an exact monthly rate, and grows your balance month by month while adding your contributions. The chart splits your total into what you put in versus interest earned, so you can see exactly how much the bank is paying you.
Your real return depends on the rate staying competitive. A national-average account and a high-yield account look identical on day one but drift worlds apart over a few years, which is why the APY you choose matters more than any other input.
What counts as a good savings APY in 2026?
Anything near the national average is leaving money on the table. If you are not sure what to aim for, start with our guide on how to choose a high-yield savings account and the basics of what APY means. You can also cross-check the concepts with the U.S. Consumer Financial Protection Bureau.
The compound interest formula we use
Because APY already reflects compounding, the calculator derives a precise monthly rate, then applies it each month and adds your deposit:
monthly rate = (1 + APY)^(1/12)-1
Over a year this reproduces your stated APY exactly: a $10,000 balance at 5.00% APY grows to precisely $10,500 in twelve months. It is the same method used by the major finance sites.
