Free · No sign-up required
Free · Daily compounding · 4–5% APY
HYSA calculator
See exactly how much interest a high-yield savings account will earn. Set your APY (4–5% at top banks in 2026), starting balance, and monthly deposit. Daily compounding built in.
Top HYSA rates in 2026
HYSA rates float with the federal funds rate. Current top-tier APYs:
- Marcus by Goldman Sachs: ~4.40% APY
- Ally Bank: ~4.20% APY
- SoFi Money: ~4.50% APY (with direct deposit)
- CIT Bank Savings Connect: ~4.55% APY
- Wealthfront Cash: ~5.00% APY
All FDIC-insured up to $250k. Compare your current bank's regular savings (often 0.01–0.5%) and the upgrade pays for itself in week one.
Daily vs monthly vs annual compounding on a HYSA
Most HYSAs compound daily and credit monthly. On $10,000 at 4.5% APY for 5 years:
- Daily compounding: $12,517
- Monthly compounding: $12,510
- Annual compounding: $12,463
Difference is tiny — chase the rate, not the frequency.
$10,000 HYSA growth at 4.5% APY
| Years | No deposits | +$100/mo | +$500/mo |
|---|---|---|---|
| 1 | $10,460 | $11,684 | $16,580 |
| 3 | $11,447 | $15,300 | $30,705 |
| 5 | $12,517 | $19,242 | $46,144 |
| 10 | $15,666 | $30,720 | $90,937 |
HYSA Calculator FAQ
Is a HYSA the same as a regular savings account?
Functionally yes — FDIC-insured, accessible online, no withdrawal penalty (up to 6/month historically; Reg D suspended in 2020 so most banks no longer enforce). Difference: HYSAs pay 10–100× the rate of brick-and-mortar bank savings accounts.
Are HYSA earnings taxable?
Yes — interest is taxed as ordinary income at your marginal federal + state rate. Banks send Form 1099-INT if you earn more than $10. Account for taxes by reducing the displayed APY by your marginal rate when projecting net growth.
HYSA vs CD — which earns more?
CDs typically offer slightly higher APYs (4.5–5.25% for 12-month CDs) in exchange for locking up your money. HYSA gives liquidity for similar rates. CDs win if rates are falling and you want to lock in. HYSA wins if you might need the cash.
Will HYSA rates stay high in 2026?
HYSA APYs track the federal funds rate. If the Fed cuts rates, expect HYSA APYs to drop in lockstep within weeks. Rates were 0.5% in 2021, peaked above 5% in 2023–2024, and have eased back to the 4–5% range. Plan conservatively for rate cuts.
Should I keep my emergency fund in a HYSA?
Yes — this is the textbook use case. Liquid, FDIC-insured, earning interest that roughly keeps pace with inflation. Park 3–6 months of expenses here. Anything beyond emergency cash is better invested.
Is the HYSA APY the same as the interest rate?
Slightly different. The APY (Annual Percentage Yield) accounts for compounding within the year; the nominal interest rate doesn't. At 4.4% nominal compounded daily, the APY is 4.50%. Banks advertise APY because it's the effective return — that's what to compare.