How does the high-yield savings calculator work?
Our high-yield savings calculator estimates how your savings could grow based on your initial deposit, recurring contributions, savings period, and the APYs shown. The calculator compares estimated earnings with Public Reserve, Public Core, and the national average savings rate.
The calculator uses the following assumptions:
- Initial deposit: Your initial deposit is assumed to be made at the beginning of the selected savings period and remains deposited throughout the term.
- Recurring deposits: Recurring contributions begin after the first month. For example, a 1-year projection includes 11 months of recurring contributions, while a 3-year projection includes 35 months.
- Deposit frequency: Monthly contributions are calculated once per month, bi-weekly contributions twice per month, and weekly contributions four times per month.
- Interest calculation: The calculator estimates how interest could compound over the selected period based on the APY shown. For Public’s High-Yield Cash Account, actual interest accrues daily and is credited monthly.
- Constant contributions: Your recurring deposit amount and frequency are assumed to remain unchanged throughout the selected savings period.
- Constant rates: The calculator assumes the displayed APYs remain unchanged throughout the selected period for estimation purposes. Actual APYs are variable and may change.
- Public Reserve fee: Public Reserve calculations include the $20 monthly subscription fee. The calculator assumes the fee reduces the projected balance each month. Reserve membership also includes additional benefits, such as a 4% annual IRA contribution match, other investment matches, and priority support. See all Public Reserve benefits.
- No withdrawals: The calculator assumes no withdrawals during the selected savings period.
Results show your total contributions, estimated earnings, and projected ending balance for each option. Results are hypothetical and actual earnings may vary.
