Project high-yield savings balances using stated APY and monthly deposits.
Overview
High-yield savings marketing emphasizes APY headlines, but your realized return is path-dependent: when deposits arrive and whether you maintain tier balances changes year-by-year interest dollars.
Modeling with daily compounding and explicit deposits reveals if chasing an extra 0.25% APY is worth switching banks after accounting for transfer friction and rate history.
Not affiliated with CIT Bank/Merrill. Verify APY, limits, and FDIC coverage on official resources.
Steps
Enter competitive HYSA yield.
Starting amount.
Automated monthly savings.
Years to project.
Rerun with alternate APY.
Check interest vs contributions.
Math
Daily compounded FV with annuity deposits
Standard HYSA projection math using APY and monthly contribution timing per tool.
Worked cases
Same balance 10,000 for 1 year
HYSA earns dramatically more interest.
Deposit-heavy growth path
Balance mostly contributions early years.
Conservative forward APY
Lower terminal balance planning.
Why use this
Questions