How to use the High-Yield Savings Calculator (APY)
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Formula
Frequently asked questions
What is APY?
Annual percentage yield — the yearly return including compounding. It's the best number to compare savings accounts.
Is savings interest taxed?
In the US, interest is taxable income in the year it's earned.
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CalcKite. (2026). High-Yield Savings Calculator (APY) [Online calculator]. https://www.calckite.com/savings-interest-calculator/
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Results are estimates for information only and are not financial, tax or legal advice. Tax rules, interest rates and fees change, so confirm important numbers with your bank, employer or a qualified adviser. Read our disclaimer.