Savings Calculator

See how much a savings account will hold after making monthly deposits at the account's APY, with a year-by-year breakdown. Next, open the currency converter online and enter your own details to see an estimate in seconds.

Enter your savings account details

Opening balance

What is in the account today. Use 0 for a new account.

Monthly deposit

APY

Years

yrs

APY (annual percentage yield) is the rate banks must show for savings accounts. It already includes compounding, so $1,000 at 4% APY earns $40 over a year.

More options

The rate I entered is

Raise the monthly deposit each year by

Deposits are made at the

Tax rate on interest

Savings interest is taxed as ordinary income each year. The tax is taken from the balance at year end.

Your savings

Ending balance

–

Total deposits

–

Interest earned

–

Opening balance–

Monthly deposits added–

Tax on interest–

APY used–

Interest in the final month–

Final monthly deposit–

Savings rates are variable and can change at any time, so treat this as an estimate at today's rate.

Year-by-year savings

What you deposit and what the account pays you each year, and the balance at year end.

Year	Deposits	Interest	Tax	Balance

Results are estimates for educational purposes and are not financial, tax or legal advice.