High-Yield Savings Calculator - Compare APY Growth (2026)

A high-yield savings account is an FDIC-insured savings account that pays an APY well above the national average, typically from an online bank with lower overhead. In July 2026 the national average savings APY was 0.38% while competitive high-yield accounts paid 4.00% to 4.50% APY. The higher APY is variable, not fixed like a CD.

Growth is calculated monthly at r = (1 + APY)^(1/12) - 1. The balance each month is prior balance x (1 + r) + monthly deposit. For example, $10,000 at 4.25% APY with $200 monthly becomes $12,874 after 12 months and $25,630 after 60 months, earning $3,630 in interest on $22,000 contributed.

A competitive 4.25% high-yield savings account beats the 1.68% national-average 12-month CD by about $2,150 over 5 years on $10,000 plus $200 monthly ($25,630 vs $23,480), and it keeps cash liquid. A 4.50% CD beats the 4.25% HYSA by $230 over 5 years, so a CD wins only when you can lock money for the full term.

In August 2026 a good high-yield savings APY was 4.00% to 4.50% APY, versus the FDIC national average of 0.38% for savings. Offers at 4.25% or higher were in the top tier of nationally available accounts. Anything below 3.80% was below the competitive online-bank average that week.

Maximize interest by automating a fixed monthly deposit, choosing a fee-free account with no minimum, and keeping the rate competitive. Transferring $15,000 from a 0.38% account to a 4.25% account adds about $580 per year in interest. Review the APY monthly because most high-yield rates are variable with Federal Reserve moves.

On $10,000 plus $200 monthly for 5 years, raising APY from 3.25% to 4.25% increases the final balance from about $24,730 to $25,630, adding $900 in extra interest. For 10 years the same 1-point increase adds about $3,450. On $25,000 plus $500 monthly for 5 years, a 1-point increase adds about $2,280.

This calculator does not include: (1) federal or state tax on interest, generally taxable each year; (2) monthly fees, minimum-balance tiers or promotional periods that reduce the effective APY; or (3) transfers, holds or transaction limits that delay when deposits start earning interest. It assumes a constant APY.

Yes, accounts at FDIC-insured banks are insured up to $250,000 per depositor, per insured bank, per ownership category, and credit-union accounts have parallel NCUA coverage of $250,000. Coverage includes principal and accrued interest. Confirm the bank is FDIC-insured on the FDIC BankFind tool.

Yes, most high-yield savings APYs are variable and can change at any time after Federal Reserve moves or bank competition shifts. The Federal Reserve held the target at 3.50% to 3.75% through August 2026 after three cuts in late 2025. Recalculate your projection whenever your bank posts a new APY.

The calculator converts the entered APY to its equivalent monthly rate r = (1 + APY)^(1/12) - 1 and compounds monthly. APY already reflects compounding, so do not add a separate compounding frequency. Daily crediting at the same APY would raise the balance by less than $4 per $10,000 per year.