Savings Account Comparison Calculator
Compare projected balances, fees, access time, and verified deposit protection on equal assumptions.
A rate is only one part of the decision
The result ranks projected balances and keeps unverified safeguards visible.
How projected savings balances are calculated
The calculator converts each entered APY into an equivalent monthly growth factor, applies interest to the current balance, adds the monthly contribution at month-end, and subtracts the entered monthly fee.
Monthly rate used in the projection
(1 + APY)1/12 - 1
The same opening deposit, contribution timing, and projection period are applied to every account.
Hold the scenario constant
Every account uses the same opening deposit, contribution, and number of months. Only account-specific APY and fees change, preventing an unequal comparison.
Use APY consistently
Monthly growth is derived from APY with the formula (1 + APY)^(1/12) − 1. The projection does not mix a nominal rate from one offer with APY from another.
Rank the projected ending balance
Accounts are ordered by the balance produced under the entered assumptions. Interest and fees remain visible so the reason for the difference can be inspected.
How to read the account comparison
The numeric leader is not automatically the best account. The result keeps access time and unverified protection beside the projection so a small balance advantage cannot hide a more important safeguard.
What the savings projection does not model
| Verify | Variable-rate changes and promotional expiry |
|---|---|
| Verify | Balance tiers, bonuses, taxes, and withdrawal limits |
| Verify | Different compounding or contribution timing disclosed by a provider |
| Verify | Deposit-insurance eligibility and transfer-access risk |
Questions about comparing savings accounts
Is an entered APY guaranteed for the full projection?
No. The calculator holds APY constant to compare scenarios. A variable rate can change, and a promotional rate may end before the selected time period.
Is the highest projected balance always the best account?
No. Verify deposit protection, access time, withdrawal rules, rate conditions, and account ownership. A small projected gain may not justify a weaker emergency-access setup.
Why are fees entered separately from APY?
APY standardizes yield under stated assumptions, while account fees reduce the money you keep. Showing both makes it clear whether extra interest actually overcomes the fee.
Continue with the Savings Accounts & Emergency Funds guide, or read the complete savings-account comparison checklist.