Track the growth of your savings account and estimate your future balance. Not financial advice.
$
$
%
Yrs
Future Value
$38,074.58
Total Contributions
$29,000.00
Total Interest Earned
$9,074.58
Last updated: July 2026
Plan Your Savings Goals
Whether you're saving for a down payment, a wedding, or an emergency fund, consistency and the interest rate you're earning both matter. This calculator projects how your balance grows based on your starting amount, monthly contributions, and interest rate. It's a projection based on the assumptions you enter, not financial advice or a guarantee — actual rates vary by bank and change over time.
Maximize Your Interest
If your money is sitting in a traditional checking account or a big-bank savings account earning close to 0%, you're likely missing out on meaningful interest. Enter your current balance and a realistic high-yield savings rate to see roughly how much a HYSA could pay you over time compared to earning next to nothing.
A Worked Example
Using the calculator's own defaults — a $5,000 starting balance, $200 monthly contribution, and a 4.5% APY, over 10 years:
Total contributed out of pocket: $5,000 + ($200 × 12 × 10) = $29,000
Projected balance: approximately $38,074
Interest earned: approximately $9,074
These figures are approximate — verify the exact output against the live calculator above, since manual estimates can differ slightly from the tool's precise calculation.
Frequently Asked Questions
A HYSA is a bank account, typically at an online-only bank, that pays a much higher interest rate than a traditional savings account. As of mid-2026, the best HYSAs offer roughly 4-5% APY, compared to around 0.01% at many large traditional banks — the national average across all savings accounts is under 1%.
At an FDIC-insured bank, funds in a savings account are protected up to $250,000 per depositor, per institution. HYSAs don't carry stock market risk — your balance won't drop in value the way an investment account can, though the interest rate itself is variable and can change over time.
Most bank savings accounts compound interest daily or monthly, and pay it out at the end of each statement period. This calculator models monthly compounding.
Check your actual bank's current APY and use that. If you're comparing options, the calculator's 4.5% default reflects a competitive (but not top-tier) HYSA rate as of mid-2026 — actual rates vary by bank and change with the Federal Reserve's interest rate policy, so don't assume this default will match your specific account indefinitely.
They share the same math, but different default assumptions. This tool defaults to 4.5%, reflecting a savings account or CD. The Investment Calculator defaults to 8%, reflecting stock market-style investing, which carries more risk but historically higher long-run returns. Use whichever matches what you're actually planning for, and adjust the rate either way.
It depends on your needs. CDs (certificates of deposit) often pay a similar or slightly higher fixed rate than HYSAs, but lock your money up for a set term with a penalty for early withdrawal. HYSAs keep your money liquid with a variable rate that can rise or fall. If you might need the money before the CD term ends, a HYSA is usually the safer choice.
Roughly $450 in interest over a year, assuming the rate stays constant and interest compounds monthly (10,000 × 4.5% ≈ 450, with monthly compounding adding a small amount more).