Finance Calculators

Savings Interest Rate Calculator

Calculate how much interest a savings account balance will earn over time at a given annual percentage yield (APY).

Ending balance —

Interest earned —

About the Savings Interest Rate Calculator

Annual percentage yield (APY) already reflects the effect of compounding over a full year, so this calculator converts it into an equivalent monthly rate to project a savings balance forward month by month.

Formula: Monthly Rate = (1 + APY)^1/12 − 1 · Ending Balance = Starting Balance × (1 + Monthly Rate)^months

High-yield savings accounts and money market accounts typically advertise APY rather than a nominal interest rate specifically because it lets savers compare accounts on an apples-to-apples basis, regardless of how often each bank compounds interest.