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Savings Calculators · United States
See how a savings account, high-yield account or CD grows with APY, monthly deposits and compounding. Includes interest after tax and the value in today's dollars.
Added at the end of each month. Use 0 for a CD.
Used only for APR. An APY already includes compounding.
Interest is taxed as ordinary income, so use your federal plus state rate. Use 0 for an IRA.
Used to show the value in today's dollars.
Enter your values and press Calculate savings
Ending balance
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How it works
Compounding means you earn interest on your earlier interest. The more often a bank compounds and the longer you leave the money, the more the balance grows.
Add your starting balance, any monthly deposits and the rate from your bank. Choose APY if the bank quotes APY, which is the usual way.
Enter the term in years and months. Add a tax rate to see interest after tax, and an inflation rate to see what the money is worth in today's dollars.
See the ending balance, interest earned, after-tax interest and a chart and table of your balance each year.
The calculator assumes a fixed rate for the whole term. Savings account rates are variable and can change at any time, while a CD locks its rate until it matures. Tax is applied to total interest as a single amount at the rate you enter; in reality interest is taxed in the year it is paid, and you owe tax even if you leave it in the account. Early withdrawal penalties on CDs, bank fees and minimum balances are not included. Deposits are insured by the FDIC up to $250,000 per depositor, per insured bank, per ownership category.
APR is the stated annual rate without compounding. APY includes the effect of compounding, so it is the better number to compare accounts. A 4.00% APR compounded daily is about a 4.08% APY.
Less than most people expect. At 4% APR, daily compounding pays about 4.08% a year, monthly 4.07% and annual compounding exactly 4.00%. The rate itself and the term matter far more.
Yes. Interest is taxed as ordinary income by the IRS, and by most states, in the year it is credited, even if you do not withdraw it. Interest in a traditional or Roth IRA follows IRA rules instead.
Subtract inflation from your after-tax interest rate. If you earn 4% after tax and inflation is 3%, your purchasing power grows about 1% a year. The value in today's dollars shown here does this calculation for your term.
A CD usually pays a fixed rate in exchange for locking up money until maturity, while a high-yield savings account lets you withdraw anytime but the rate can change. This calculator compares growth only and does not recommend either.
Estimates for education and planning only. This is not tax, legal or investment advice; check IRS.gov or a tax professional for your situation. Sources: FDIC deposit insurance rules, IRS Topic 403 (interest received).
Last updated: November 2, 2026
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