Enter a starting balance, what you add each month and the APY your account quotes, and see how the balance could grow. APY (annual percentage yield) already includes compounding, which is why it is the number to compare between accounts.
What this does and does not tell you
The calculator applies one fixed APY for the whole period and adds your deposit at the end of each month. Real accounts differ: savings rates are variable and can change at any time, a promotional rate may end, and taxes on interest are not included. The starting values above are placeholders, not typical or expected rates. Replace them with your own numbers.
Before you open an account, confirm the current rate, any minimum balance and any fees with the bank, and check that it is insured with our FDIC bank lookup.