APY Calculator
Calculate the Annual Percentage Yield (APY) of your savings or investment instantly. Enter your nominal interest rate (APR) and compounding frequency to see the true annual return, total interest earned, and a year-by-year balance projection. Free, no sign-up required.
The starting amount in your savings account or investment.
The stated annual interest rate before compounding (as advertised by the bank).
How often interest is calculated and added to your principal.
Amount you add each month. Leave 0 for a one-time deposit.
The duration of your savings or investment in years.
💰 Annual Percentage Yield
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Final Balance
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Total Interest
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vs APR
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📊 Year-by-Year Balance Projection
| Year | Balance | Interest Earned |
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Assumes deposits are made at the end of each month. Actual yields may vary with rate changes.
💡 What this means
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📚 Maximize your savings yield
📚 See top-rated savings & investing books on Amazon →📝 How to use this APY calculator
- Enter Initial Deposit — the amount you currently have or plan to deposit into the savings account or investment.
- Enter Nominal Interest Rate (APR) — the stated annual interest rate as advertised by the bank, before compounding.
- Select Compounding Frequency — how often the bank calculates and adds interest to your balance (daily, monthly, quarterly, etc.).
- Enter Monthly Deposit (optional) — if you add money each month, enter that amount. Leave at 0 for a one-time deposit.
- Enter Years — the duration you plan to keep the money in the account or investment.
- Click Calculate — see your APY, final balance, total interest earned, a year-by-year growth table, and a plain-English interpretation.
📌 5 tips for comparing savings accounts with APY
- ✓ Always compare APY, not APR. Two accounts with the same 5% APR can have different APYs if they compound at different frequencies. The APY is your true return.
- ✓ Watch for promotional rates. Some banks offer a high APY for the first 3-6 months, then drop to a lower rate. Read the fine print to see if the rate is ongoing or temporary.
- ✓ Account for fees. A 5% APY with a $15 monthly maintenance fee on a $5,000 balance effectively costs you 3.6% per year — wiping out most of the yield. Look for no-fee accounts.
- ✓ Compare APY to inflation. If inflation is 3% and your APY is 2.5%, your money is losing purchasing power in real terms. Aim for an APY at or above inflation.
- ✓ Understand compounding differences. Daily compounding gives a slightly higher APY than monthly at the same APR. Over 30 years on $10,000 at 5%, the difference is about $130 — small but not zero.
Disclaimer: This calculator provides APY estimates for educational and comparison purposes only. Actual savings rates, compounding methods, and account terms vary by institution. APY does not account for taxes on interest income, account fees, or rate changes over time. Consult your financial institution for exact terms and a financial advisor for personalized guidance.
Related Tools
APY is one piece of your savings and investment toolkit. These six calculators cover the rest — from compound interest and CAGR to inflation-adjusted returns, future value projections, retirement planning, and dividend reinvestment.
- Compound Interest Calculator — project how a deposit grows with compounding at a known rate, the foundation behind every APY calculation.
- CAGR Calculator — find the compound annual growth rate from observed beginning and ending values, complementary to APY for investment analysis.
- Inflation Calculator — adjust your APY for inflation to see the real (purchasing-power-adjusted) yield of your savings.
- Future Value Calculator — project your investment's worth with periodic deposits and compounding, then compare against your APY-based estimate.
- Retirement Savings Calculator — project your retirement nest egg using APY assumptions for long-term portfolio growth.
- Dividend Reinvestment Calculator — compare DRIP vs no-DRIP year by year, then compare the resulting yield against your APY for total-return analysis.