Savings Calculator

Calculate how your savings will grow over time with compound interest

Savings Growth Calculator

Initial Deposit

Monthly Deposit

Annual Interest Rate

Live from Federal Reserve (Live RSS when available): 4.85% (updated 2025-07-26)

Time Period

Years

Compounding Frequency

Expected Inflation Rate

Live from Federal Reserve (Live RSS when available): 2.8% inflation (updated 2025-07-26)

Central Bank vs Savings Account Rates

Fed (Federal Reserve) rate: 4.33% - this is the US central bank's federal funds rate that sets the baseline for all American interest rates. High-yield savings accounts pay 4.5-5.2% APY (Marcus, Ally, Capital One). Online banks compete by offering rates slightly above the Fed rate to attract deposits, unlike loans where banks add large margins for profit and risk.

Maximizing Your Savings Growth Live RSS Data

US Savings Options (July 2025 Rates):

High-Yield Savings: Online banks offering 4.5-5.2% APY
Money Market Accounts: 4.0-4.8% APY with check-writing privileges
Certificates of Deposit (CDs): 4.2-5.0% for 1-5 year terms
Treasury Bills: Government-backed, currently 4.8-5.1%
I Bonds: Inflation-protected, $10K annual limit, 5.27% current rate
FDIC Insurance: Up to $250,000 per depositor per bank

Savings Strategies:

Emergency Fund: 3-6 months of expenses in accessible savings
Goal-Based Saving: Separate accounts for different objectives
Automatic Transfers: Set up recurring deposits
Laddering CDs: Stagger maturity dates for flexibility

Impact of Inflation:

Inflation reduces the purchasing power of your money over time. If your savings rate is below the inflation rate, you're effectively losing money. Consider inflation-protected investments for long-term goals.