High Yield Savings Account Calculator

Calculate the future value of your savings account with regular contributions and compound interest

Input Parameters

Calculation Results

Calculation Formula

Future Value = P + C × [(1 + r/n)^(nt) - 1] × (n/r)

Where:
P = Initial Investment
C = Monthly Contribution
r = Annual Interest Rate (as decimal)
n = Number of times interest is compounded per year
t = Number of years

Future Value:

$0.00

Total Contributions:

$0.00

Total Interest Earned:

$0.00

High Yield Savings Account Calculator Usage Guide

Learn how to use the High Yield Savings Account Calculator to plan your savings goals

How to Use This Calculator

  1. Enter your Initial Investment (the amount you're currently depositing in the account)
  2. Enter your Monthly Contribution (how much you plan to add to the account each month)
  3. Set the Annual Interest Rate (the APY offered by your high yield savings account)
  4. Choose the Compounding Frequency (how often interest is calculated and added to your balance)
  5. Enter the Number of Years you plan to save
  6. Click the Calculate button to see your projected future value

Understanding the Results

The calculator shows three important figures:

  • Future Value: The total amount in your account after the specified period
  • Total Contributions: The total amount of money you've deposited into the account
  • Total Interest Earned: The total amount of money earned from interest

Planning Tips

Use this calculator to:

  • Set savings goals for emergencies, down payments, or other financial objectives
  • Compare different high yield savings accounts with varying interest rates
  • See how increasing your contributions can significantly grow your savings over time
  • Plan for long-term savings strategies

Remember that this is an estimate based on current interest rates and does not account for changes in rates, fees, or taxes that may affect your actual returns.