High-Yield Savings Account (HYSA) Calculator
Compare high-yield savings accounts against standard bank rates. Calculate the 'Opportunity Cost' of leaving money in a low-interest account.
You are missing out on this amount by not switching.
About
Inflation is the silent wealth destroyer. If your money is sitting in a traditional checking or savings account earning 0.01% or 0.40%, you are effectively losing purchasing power every single day. High-Yield Savings Accounts (HYSAs) are FDIC-insured accounts that typically pay 10 to 15 times the national average interest rate.
This calculator is designed to quantify the "Opportunity Cost"—the actual money you are forfeiting by not switching banks. By comparing a standard rate against a competitive HYSA rate, you can visualize the tangible benefits of moving your emergency fund or idle cash to a higher-performing vehicle. It’s not just about pennies; over a few years, the difference often amounts to a free vacation or a significant appliance upgrade.
Formulas
The tool calculates Simple Interest for comparison (approximating APY effects for short term clarity). The Opportunity Cost is the difference between the two interest outcomes.
Reference Data
| Bank Type | Typical APY | Earnings on $10k (1 Yr) | Earnings on $50k (1 Yr) |
|---|---|---|---|
| Traditional Big Bank | 0.01% | $1.00 | $5.00 |
| Average Savings | 0.46% | $46.00 | $230.00 |
| Money Market Fund | 4.50% | $450.00 | $2,250.00 |
| Competitive HYSA | 5.00% | $500.00 | $2,500.00 |
| Treasury Bills (ST) | 5.30% | $530.00 | $2,650.00 |
| Difference (HYSA - Trad) | - | +$499.00 | +$2,495.00 |