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APY Calculator

Using the APY calculator on the right, you can determine your projected interest earnings by moving the sliders or entering the percent APY offered, the deposit balance, and the duration (in months) that the funds will stay invested.

Evaluate Your Savings Goals

Compare interest earnings, deposit amounts, and durations that fit your financial plans.

Consider the Effect of Fees

Account and penalty fees may significantly reduce your interest earnings over the long term.

Save Early & Let Compounding Work

The longer your money is left untouched, the faster it will grow.

The APY calculator uses the following formula:

Interest = (Principal)([(APY+1)^Months/12] -1)

Projected interest earnings assumes no changes (e.g. fees, withdrawals, and new deposits) to original principal.

After estimating how much interest you’ll earn, you can determine whether or not it is worth signing up for a particular interest-bearing deposit account.

As always, don’t forget to review deposit account agreements.

What Does it Mean?

Annual percentage yield (APY)

The APY is commonly used by banks to express the rate of return on balances in interest-bearing deposit accounts. It is an annualized rate that calculates for the effect of compounding interest.

Interest-bearing deposit account

An account at a bank or other financial institution that earns interest on funds deposited. The most common interest-bearing deposit accounts include savings accounts, money market accounts, and certificates of deposits (CDs).

Compound interest

Compounding occurs when deposited money earns interest and the accumulated interest begins earning interest itself. It is the mathematical phenomenon responsible for exponential growth of deposits.


Calculate your interest earnings

  • 1.

    What % APY will you be earning?

  • 2.

    What is the deposit balance on the account?

  • 3.

    How long do you plan to maintain this balance?


Interest earnings: $0

CD national averages

3 Month Average*



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* average is based on banks tracked on