Calculator
Best for: “If I switch banks, how much more interest will I earn?”
Extra interest (HYSA vs current) — per year
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Extra interest — per month (avg)
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Current account: interest in 1 year
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HYSA: interest in 1 year
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Projected ending balance (current)
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Projected ending balance (HYSA)
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ONDO • ondo365
Switching summary
- What you care about: “If I switch, I earn — more per year.”
- Rule of thumb: APY is annual, but banks typically pay interest monthly.
- Reality check: HYSA rates can change. This is a projection based on the APYs you enter.
This estimate is gross interest (before taxes/fees).
How to use
- Enter your balance and the two APYs: your current rate vs HYSA rate.
- Optional: add a monthly contribution to model ongoing savings.
- Choose compounding and time horizon, then calculate.
- Use Share / Copy link to save settings (URL-encoded). Use Save as image for a watermark card.
APY in plain English
- APY = yearly rate that includes compounding effects.
- APR = simple annual rate (often used for loans).
- Savings accounts typically advertise APY, which makes comparisons easier.
Privacy & disclaimer
Calculations run locally in your browser. ONDO does not store your data. If you share a link, your numbers may appear in the URL—avoid sharing sensitive amounts.
Read disclaimer
- This tool is educational and not financial advice.
- APYs can change and may have limits/conditions.
- Results do not include taxes, fees, or bank-specific rules.
FAQ
What APYs should I use?
Use what your bank shows today. Traditional savings may be near 0.01% while HYSAs often quote several percent — but rates change over time.
Is monthly contribution required?
No. If you only want “switching difference” for your current balance, set monthly contribution to 0.
Does compounding choice matter?
It can for projections. Most banks compound daily and pay monthly. This tool lets you model it consistently.
Do you include taxes?
No. This shows gross interest only.