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Enter your starting balance, monthly deposit, and interest rate (APY) to see exactly how your savings grow over time. The calculator shows a year-by-year breakdown of your balance, total contributions, and interest earned — so you can see how much of your final balance you deposited vs how much compound interest added.
Starting from $0, monthly deposits at 4.5% APY (typical high-yield savings account in 2026):
| Monthly Deposit | 1 Year | 3 Years | 5 Years | 10 Years | You Deposited (10yr) | Interest Earned |
|---|---|---|---|---|---|---|
| $100/month | $1,227 | $3,798 | $6,659 | $14,963 | $12,000 | $2,963 |
| $200/month | $2,455 | $7,596 | $13,319 | $29,926 | $24,000 | $5,926 |
| $300/month | $3,682 | $11,394 | $19,978 | $44,889 | $36,000 | $8,889 |
| $500/month | $6,137 | $18,990 | $33,297 | $74,815 | $60,000 | $14,815 |
| $750/month | $9,206 | $28,485 | $49,945 | $112,223 | $90,000 | $22,223 |
| $1,000/month | $12,274 | $37,980 | $66,594 | $149,631 | $120,000 | $29,631 |
$500/month for 10 years — the difference between account types:
| Account Type | Typical APY | 10-Year Balance | Interest Earned | Lost by Using Regular |
|---|---|---|---|---|
| High-yield savings | 4.50% | $74,815 | $14,815 | — |
| Online savings | 3.50% | $71,491 | $11,491 | $3,324 less |
| Credit union savings | 1.00% | $63,051 | $3,051 | $11,764 less |
| Big bank savings | 0.05% | $60,149 | $149 | $14,666 less |
The difference between a 4.5% high-yield account and a 0.05% big bank savings account is $14,666 in lost interest over 10 years on the same $500/month deposits. Moving to a high-yield savings account is one of the simplest financial wins available.
How long it takes to build 3 months and 6 months of expenses at 4.5% APY:
| Monthly Expenses | 3-Month Fund Target | Saving $500/mo | 6-Month Fund Target | Saving $500/mo |
|---|---|---|---|---|
| $2,000 | $6,000 | 12 months | $12,000 | 24 months |
| $3,000 | $9,000 | 18 months | $18,000 | 34 months |
| $4,000 | $12,000 | 23 months | $24,000 | 44 months |
| $5,000 | $15,000 | 29 months | $30,000 | 54 months |
Savings account rates are variable — your bank can change the APY at any time. The 4.5% rates common in 2026 may increase or decrease based on Federal Reserve decisions. This calculator projects growth at a fixed rate. If rates drop to 2-3% (as they were in 2020-2021), your actual growth will be lower. For guaranteed returns, consider CDs that lock in a rate for a fixed term. Also, interest earned on savings accounts is taxable income — your actual after-tax return is lower by your marginal tax rate.
Calculate your savings growth right now — see exactly how your money grows with monthly deposits.
Open Savings Calculator