Savings Account Calculator
To use the calculator, simply enter the amount of money you would like to deposit and the number of months you want to keep it there for. Click "calculate" and you will see a list of accounts with the amount of money you can expect to make, in order of highest to lowest amount. We've factored in all minimum balance requirements and/or monthly fees so you can see exactly which account will be the most financially beneficial for you.
Your Deposit Information:
Why Online Savings Accounts?
It's simple — online savings accounts give you the most bang for your buck by offering higher interest rates than traditional bank accounts. In addition to higher rates, there are several more reasons why online savings accounts are the most convenient way to save. We break it down so you can start saving in just a couple of clicks:
Higher Interest Rates
First and foremost, online banks can afford to offer higher interest rates since the cost of running an online bank is much less than a physical bank. Not having to maintain physical branches and pay more employees saves online banks more money, which they can then pass on to their customers.
Less Temptation to Withdraw Your Money
All of the online banks that we review only allow you to withdraw money six times a month, otherwise you get charged $10 for each withdrawal over six. Why? Federal law limits the number of withdrawals and transfers from all U.S. savings accounts to six per statement cycle. But on the plus side, this helps you keep your money in savings, which means you'll end up earning more money.
This feature allows you to set up automatic transfers from your checking account to your online savings account, so you can continue building your savings without lifting a finger.
All of the online savings accounts we've reviewed are FDIC-insured and offer the same high level of security that regular banks offer. There is also less of a paper trail when it comes to online savings accounts, which makes them safer.
So how do you choose the best online savings account? With the different online savings accounts out there, the best way to choose the right one is simple: choose the one that will make you the most money. Thus, we've created a free online savings calculator for your convenience.
NextAdvisor Savings Accounts Blog Headlines
Chase Offers up to $250 Bonus for New Accounts
Apr 24, 2015 - Saving money is important, especially when an emergency occurs and you need some extra funds. If you?ve been hesitant about opening a savings account, now?s the right time because Chase is offering a generous sign-up bonus of up to $250 to new customers who open a checking and/or savings account....
The Best Online Savings Accounts to Grow Your Money
Mar 2, 2015 - Saving money isn?t easy. If it were, so many Americans wouldn?t be having trouble doing it. The results of a new study from the Pew Charitable Trust found that one in five Americans don?t plan on retiring. Ever. Another 56% reported worrying about their personal finances during the past year. Eve...
4 Tips for Building an Emergency Fund
Jan 20, 2015 - Many Americans aren?t saving money, but it?s not because they don?t want to. That?s according to a GOBankingRates survey that asked people about their 2015 financial resolutions. In fact, saving money is Americans? No. 1 financial goal this year. The problem, however, is that 37% of those surveye...
Americans Failing to Save for Retirement: How Can You Start?
Nov 20, 2014 - Would you rather die early in retirement if you couldn?t afford to live comfortably? A surprising number of middle-class Americans said yes ? 22% to be exact ? according to Wells Fargo survey published last month. Although other questions posed in the survey didn?t come with as many dire response...
3 Reasons to Move Your Savings Account Online
Oct 23, 2014 - An online savings account might not be one of the first things that comes to mind when thinking about growing your money, but it should. Unlike certificate of deposits, known as CDs, which are somewhat inflexible and can take years to mature for low returns, many online savings accounts offer hig...