Savings Account Calculator - APY, Compounding & Recurring Deposits
You have $1,500 saved and can put $50 aside each month. At 4.5% APY with daily compounding, that starter emergency fund grows to about $3,640 in three years. Enter your balance, APY, deposit schedule, and timeline below—then export a year or month schedule to CSV.
Account details
Enter your starting balance, APY, and contribution schedule.
Optional recurring deposit amount
Your savings balance
Final balance with interest and contributions.
Final balance
$3,642.12
$3,300 contributed · $342 interest
Growth schedule
| Period | Deposit | Interest | Balance |
|---|---|---|---|
| Year 1 | $600 | $82 | $2,182 |
| Year 2 | $600 | $114 | $2,895 |
| Year 3 | $600 | $147 | $3,642 |
Methodology and limitations
Last reviewed:
Methodology
Simulates savings account growth using annual percentage yield (APY), compounding frequency (daily or monthly), optional recurring deposits, and time horizon. Generates year or month schedules showing deposits, interest, and balance.
Limitations
Projection only. Actual account interest depends on bank APY disclosures, compounding rules, minimum balance requirements, fees, and rate changes. Does not model taxes, inflation, or account fees.
Official sources
How Savings Account Interest Grows
You have $1,500 saved and can put $50 aside each month. At 4.5% APY with daily compounding, that starter emergency fund grows to about $3,640 in three years. Enter your balance, APY, deposit schedule, and timeline below—then export a year or month schedule to CSV.
Method used
This calculator compounds interest on a savings balance at a daily or monthly rate derived from the stated APY, then adds recurring deposits on the selected schedule. It builds a period-by-period growth schedule so you can see balance, contributions, and interest over time.
Periodic rate = APY / periods per year; balance grows as (balance + deposit) × (1 + rate) each period
Practical example
You started an emergency fund with $1,500 at 4.5% APY and add $50 every month. After three years, the balance reaches about $3,640—contributions plus compounding on a realistic starter amount.
- $1,500 starting balance at 4.5% APY
- $50 monthly deposits for 3 years
- Daily compounding
About $3,640 ending balance with total contributed and interest earned breakdown
What this includes
- Starting balance, APY, deposit frequency, daily or monthly compounding
- Year or month schedule view and CSV export
What this excludes
- Introductory bonus rates, fee tiers, early withdrawal penalties, and tax on interest
Frequently Asked Questions
What is APY and how does it differ from APR?
APY (Annual Percentage Yield) includes compounding effects and shows the true annual return on your savings. APR (Annual Percentage Rate) is the nominal rate without compounding. A 4.5% APR with daily compounding yields an APY near 4.6%. Banks must disclose APY on deposit accounts under Regulation DD. Use the advertised APY in this calculator for accurate projections.
How does daily vs monthly compounding affect savings?
Daily compounding applies interest 365 times per year; monthly compounding applies interest 12 times. The difference is modest on typical savings balances but compounds over time. On $1,500 at 4.5% APY with $50 monthly deposits for 3 years, daily compounding yields about $3,640 versus slightly less with monthly compounding. This calculator models both.
What is the best savings account interest rate in 2026?
High-yield savings accounts from online banks offered 4% to 5% APY in early 2026, while traditional brick-and-mortar banks often paid under 0.5%. Rates fluctuate with Federal Reserve policy. Compare current offers before opening an account. Use this calculator to project growth at different APYs to see the long-term impact of rate differences.
Should I make weekly, biweekly, or monthly deposits?
More frequent deposits add principal earlier, earning interest sooner. Saving $25 every biweekly paycheck ($650/year) builds slower than $50 monthly ($600/year) but can match your pay cycle. On a $1,500 starter balance at 4.5% APY, the difference over three years is modest—choose the schedule you will stick with. This calculator supports weekly, biweekly, and monthly options.
Can I export my savings growth schedule?
Yes. This calculator generates year-by-year or month-by-month schedules showing deposits, interest earned, and ending balance for each period. Click Download CSV to export the full table to Excel or Google Sheets for planning, budget reviews, or goal tracking.
How much should I keep in a savings account?
Personal finance guidance recommends 3-6 months of expenses in liquid savings for emergencies. On a tight budget, start with a $500-$2,000 starter fund and add what you can each paycheck. Beyond that cushion, compare CDs, money market funds, or debt payoff depending on your goals. Use this calculator to project growth at different APYs and contribution amounts.