Savings Calculator
Project your savings growth with regular deposits, compound interest, and high-yield savings account rates.
Details
Result
Ending Balance
$83,717
Total Deposits
$65,000
Interest Earned
$18,717
High-yield savings vs big-bank savings
As of 2026, top HYSAs (Ally, Marcus, SoFi, Discover) pay 4-5% APY. Traditional big banks (Chase, Wells Fargo, BofA) pay 0.01-0.1%. On a $20k emergency fund: $1,000/yr vs $20/yr — a 50× difference with zero change in risk (both FDIC-insured up to $250k).
Savings vs CD vs T-bills
Savings: fully liquid, variable rate. CD: fixed rate, locked term (6mo-5yr), break penalty. T-bills: 4-week to 52-week, state-tax-free, backed by US Treasury. For emergency funds → savings. For "known-when-I-need-it" cash → CDs or T-bills ladder.
Frequently Asked Questions
Everything you need to know, in one place.
What is a good high-yield savings rate in 2026?
Top HYSAs offer 4-5% APY. Traditional banks pay 0.01-0.1%. The difference on a $10k emergency fund: $500/year vs $10/year.
Is savings interest taxable?
Yes — taxed as ordinary income at your federal (and state) rate. A 22% bracket saver earning 4.5% APY effectively earns ~3.5% after tax. Still beats 0%.
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