Savings
Compound interest: High-Yield Savings Account (HYSA)
How money grows in a High-Yield Savings Account (HYSA), with realistic rate assumptions and key context.
Typical parameters
| Parameter | Value |
|---|
| Typical annual rate | 4.5% |
| Compounding frequency | daily |
| 10-year growth on $10,000 | $15,530 |
| 30-year growth on $10,000 | $37,453 |
HYSAs are FDIC-insured savings accounts at online banks offering significantly higher rates than traditional savings accounts. As of 2024-2025, top HYSAs pay 4-5% APY. Rates are variable — they follow the federal funds rate. Best used for: emergency fund, short-term savings, money you'll need in 1-5 years.
Best use: Best for: short-term savings and emergency fund. Not ideal for long-term wealth building due to rate volatility.
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