Savings & growth
Savings APY Comparison Calculator
A rate gap looks small as a percentage and real as a dollar figure. See what a 0% payment-app balance or a low-rate account is actually costing you next to a higher-yield one.
Interactive tool
Savings APY Comparison Calculator
Put the same balance in two accounts at two different rates and see the dollar gap, not just the percentage gap.
Many payment apps (Venmo, Cash App, PayPal) and standard checking accounts pay 0% — leave this at 0 if that's where the balance actually sits.
Defaults to the FDIC national average savings rate, 0.38% APY as of June 15, 2026. Replace it with a specific account's current, dated APY — see /compare — for a real comparison; a strong high-yield account routinely clears the national average by several times.
Account B is ahead after 1 year
$19
- Account A — final balance
- Interest earned: $0
- $5,000
- Account B — final balance
- Interest earned: $19
- $5,019
Frequently asked
Does money sitting in Venmo, Cash App, or PayPal earn interest?
Usually not — a standard payment-app balance pays no interest, and even where an app offers an interest-bearing option it's a separate, opt-in feature, not the default. That's on top of the pass-through FDIC insurance question these apps raise; see how that coverage actually works before treating an app balance like a bank account.
What's a realistic Account B rate to compare against?
This calculator defaults Account B to the FDIC national average savings rate — 0.38% APY as of June 15, 2026 — as a conservative, dated starting point. A specific high-yield savings account often clears that average by several times, so swap in a current, dated rate from a real account before treating the output as more than a planning estimate.
Does this account for taxes on the interest?
No. Interest earned in a savings account is taxable income (you'll typically get a 1099-INT once it crosses the reporting threshold), and this calculator shows gross interest before any tax. Talk to a tax professional about how it affects your specific return.