See how far your savings can grow with regular deposits and compound interest. Adjust the numbers and watch your future balance update instantly.
A savings calculator projects how a starting balance plus regular monthly deposits will grow over time once interest is added. The two levers that matter most are how much you contribute each month and the annual percentage yield (APY) your account earns. Small, consistent deposits compound into surprisingly large balances given enough time.
The national average savings rate sits well below 1%, but online high-yield savings accounts have recently paid 4–5% APY. On a $20,000 balance that difference is hundreds of dollars a year for the exact same deposits — which is why where you keep your cash matters as much as how much you save.
Automating a fixed monthly transfer turns saving into a habit you never have to think about. Because each deposit starts earning interest immediately, money you set aside early does the most work. Saving $300 a month at 4.5% for ten years grows to far more than the $36,000 you actually deposited.
Tip: Keep your emergency fund in a high-yield savings account where it stays liquid, and route longer-term goals into investments that historically earn more than cash.
When a bank advertises an APY, that figure already reflects how often interest compounds during the year, so you can compare two accounts directly by their APY. This calculator compounds monthly, which closely matches how most savings accounts credit interest.