High-Yield Savings APY Gap Calculator
See how much extra interest a high-yield savings account delivers versus a typical checking APY. Enter your average balance and the advertised APY, then optionally add monthly contributions, timeframe, and baseline APY to model your cash.
For informational planning only. Bank APYs change frequently and may require minimum balances or direct deposits to earn the advertised rate.
Examples
- $25,000 balance at 4.50% APY for 12 months, no contributions, baseline 0.03% ⇒ Interest in high-yield account: $1,148.50 USD • Interest at baseline APY (0.03%): $7.50 USD • Extra earned by switching: $1,140.99 USD • Ending balance if moved: $26,148.50 USD
- $40,000 balance at 5.00% APY over 18 months with $300 added monthly, baseline blank ⇒ Interest in high-yield account: $3,327.53 USD • Interest at baseline APY (0.01%): $6.43 USD • Extra earned by switching: $3,321.10 USD • Ending balance if moved: $48,727.53 USD
FAQ
Does this include taxes on interest?
No. Taxes vary by jurisdiction. Apply your marginal tax rate to the interest earned to estimate after-tax returns.
How should I treat rate changes mid-year?
Run separate scenarios for each APY period and sum the results, or use an average APY that reflects expected changes.
Can I include automatic transfers?
Yes. Enter the recurring monthly contribution amount to model scheduled transfers into the high-yield account.
What if my checking APY is higher than 0.01%?
Override the baseline field with your actual APY so the calculator shows the true incremental lift.
Additional Information
- Assumes monthly compounding and that contributions are added at the start of each month to maximize interest accrual.
- Baseline APY defaults to 0.01% to mirror typical non-interest checking accounts.
- Result unit: USD of interest earned and total ending balance over the modeled months.