This savings accounts rates calculator helps you compare interest rates (APY) on different savings accounts offers and see which one generates the highest end balance if you intent to deposit a starting amount plus additional (monthly) contributions.

Starting amount:
Regular contribution:
Making regular deposits:*
For how long to save:*
Annual percentage yield (APY) 1:
Annual percentage yield (APY) 2:
Annual percentage yield (APY) 3:

How does this compare savings accounts rates calculator work?

This tool can help you make a comparison on how the different APY rates you receive from bank offers have an impact on your savings account final balance.

The algorithm behind this calculator uses the formulas explained below, while it assume the annuity payments are made at the beginning of each period and that the compounding frequency rule is the same with the regular contributions frequency:

  • Formula for estimating the future value of the starting deposit:

Future Value Lump Sum Formula

  • Formula for calculating the future value of the additional contributions:

Future Value Annuity Payments Formula

  • Total accumulated in account at the end of the period:

Total Earnings Formula

  • Total principal saved:

Total Principal Saved Formula

  • Total interest earned:

Total Interest Earned Formula


r = Annual interest rate

t = savings term in years

c = coefficient for the no. of payments and compounding frequency per year

PV = starting deposit

PMT = additional contribution paid at the beginning of each period

20 Apr, 2015