Simple interest refers to the interest earned only on the initial deposit in a savings account. So, if your initial deposit was $500, the simple interest would be calculated based on that amount.

Simple interest refers to the interest earned only on the initial deposit in a savings account. So, if your initial deposit was $500, the simple interest would be calculated based on that amount.

To illustrate how simple interest works, assume you deposit $1,000 in a savings account with a 5% interest rate. After three years, you’d earn $150 in interest. Here’s the calculation: ...

Our savings account calculator will help you see how much interest your savings account is earning—or if it’s time to change banks to earn more.

— Simple interest refers to the interest earned only on the initial deposit in a savings account. So, if your initial deposit was $500, the simple interest would be calculated based on that amount.

Use our free savings calculator to help plan your financial future. ... The interest earned this year = $78.75 ... Even though you didn’t deposit more money in your savings account, ...

The APY is the rate of interest earned on your savings when compounding interest is factored in. So, assume you open a savings account with $1,000. You deposit $100 a month into your account and ...

High-yield savings accounts are the most straightforward; they're like traditional savings accounts, but they earn significantly more interest. Savings accounts don't generally let you use debit ...

For example, if you made a one-time deposit of $10,000 into a savings account that paid a simple interest rate of 2.00% annually, you would earn a flat $200 each year your $10,000 remains in the ...

A juicy high-yield savings account can jumpstart your rainy-day fund or help you reach a goal, but a free savings calculator can help you understand just how quickly your cash will grow over time ...