Savings Calculator

Margarette BurnetteApril 8, 2020

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When you put money in a savings account, the interest you earn builds on itself over time. The savings calculator below will help you understand how your money can grow.

» Want to upgrade your account? Check out NerdWallet's best high-yield online savings accounts.

Or to compare some top savings accounts, check out the table below:

Marcus by Goldman Sachs Marcus by Goldman Sachs Online Savings Account

Marcus by Goldman Sachs Online Savings Account

Synchrony Bank Synchrony Bank High Yield Savings Account

Synchrony Bank High Yield Savings Account

Discover Bank Discover Bank Online Savings

Discover Bank Online Savings

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APY

0.60%

With $0 minimum balance

APY

0.75%

With $0 minimum balance

APY

0.60%

With $0 minimum balance

Bonus

N/A

Bonus

N/A

Bonus

N/A

Savings calculator tip

First, run the numbers without a monthly deposit. Then try it again with $25 or $100 per month to see how regularly adding even a small amount can move you closer to your savings goal. You can take a deeper dive with this explainer on compound interest.

» Saving for a short-term goal? Take a look at NerdWallet's best one-year CD rates.

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