Savings Account Interest
See how a savings deposit grows with annual compounding.
About Savings Account Interest
A savings or certificate deposit compounds annually, so the ending balance grows faster than the starting deposit times the simple rate. The result reflects interests compounding over the chosen term. Comparing real APY across high-yield savings and CDs matters because it directly sets how fast a nest egg grows.
Formula
Savings Account Interest
Ending = P x (1 + r)^years
- P
- deposit
- r
- annual rate
Worked example
With the default values below, Savings Account Interest returns Ending Balance of $6,083.26. Change any input above and every figure here is recalculated in your browser.
Inputs used
- Deposit
- 5,000
- Annual rateaccepts 0–100 %
- 4 %
- Yearsminimum 0
- 5
Results
- Ending Balance
- $6,083.26
- Interest Earned
- $1,083.26
- Annual Earning
- $200.00
Step by step
- 1Values used
- 2Savings Account Interest
- 3Ending Balance= 6,083.26
- 4Interest Earned= 1,083.26
- 5Annual Earning= 200.00
Assumptions and limits
- The result is derived only from the 3 inputs listed above. Anything not among them is not part of the calculation.
- In particular, this calculator does not take inflation, tax or fees or charges into account.
- Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
- This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.
How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.
Frequently Asked Questions
How is Savings Account Interest calculated?
Ending = P x (1 + r)^years A savings or certificate deposit compounds annually, so the ending balance grows faster than the starting deposit times the simple rate. The result reflects interests compounding over the chosen term.
Why does Savings Account Interest matter?
Comparing real APY across high-yield savings and CDs matters because it directly sets how fast a nest egg grows.
What values do I need to enter?
This calculator takes 3 inputs: Deposit, Annual rate, Years. The pre-filled defaults are a realistic starting point — replace them with figures from your own environment for a result you can act on.