High-Yield Savings Calculator
Enter your balance and current rate — we'll show you what you're missing.
As of November 9, 2026, a $10,000 savings balance earns $1 a year at 0.01% APY, the lowest big-bank standard rate Arca Savings tracks, and $500 a year at 5.00% APY, the top rate, at Leader Bank Zeugma Plus High Yield Savings, a promotional rate that requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions.
Why most savings accounts earn 0.01%–0.05% APY
Americans have roughly $17.5 trillion sitting in bank deposit accounts. The vast majority of it is earning 0.01%–0.05% APY — the standard rate at Chase, Bank of America, and most traditional banks. Meanwhile, online high-yield savings accounts from institutions like Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express offer 3.20%–5.00% APY on the same money, with the same FDIC insurance.
For a household with $30,000 in savings, that rate gap represents over $1,200 per year in interest they're not earning. Not because high-yield accounts are hard to get — they're not. There's no credit check, no minimum balance, and no lock-in period. The only barrier is knowing the opportunity exists.
Arca's calculator shows you exactly what your current account is costing you, and which account to switch to based on your balance. Enter your numbers above to see your personal opportunity cost in under 30 seconds.
How much are you losing? (by balance)
As of Nov 9, 2026, $10,000 in savings earns $1 a year in a typical big-bank account (0.01% APY) and $500 in a top HYSA such as Leader Bank (5.00% APY with requirements*).
| Balance | Typical big bank0.01% | Leader Bank5.00%* | Differencea year |
|---|---|---|---|
| $5,000 | under $1 | $250 | +$250 |
| $10,000 | $1 | $500 | +$499 |
| $25,000 | $3 | $1,250 | +$1,248 |
| $50,000 | $5 | $2,500 | +$2,495 |
| $100,000 | $10 | $5,000 | +$4,990 |
*Leader Bank Zeugma Plus High Yield Savings pays 5.00% APY only with a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit, plus other qualifying requirements. Leader Bank Zeugma Plus High Yield Savings's 5.00% APY is a promotional rate through December 31, 2026; after that the rate may change. The typical big-bank rate is the lowest standard savings rate among the big banks Arca tracks. One year of interest at today’s APY (balance × APY), rounded to whole dollars. All accounts are FDIC insured up to $250,000. | |||
Frequently asked questions
What is a good savings account APY right now?
A good savings rate beats inflation, so your money keeps its buying power. According to the U.S. Bureau of Labor Statistics, inflation was 3.7% for the 12 months through September 2026. That means prices were 3.7% higher than a year earlier. As of November 9, 2026, Leader Bank (5.00% APY, a promotional rate), Axos Bank (5.00% APY, a promotional rate), SoFi (4.40% APY, a promotional rate for new accounts only), EverBank (4.20% APY, for new accounts only), Axos Summit Savings (4.01% APY, a promotional rate for new accounts only), and CIT Bank (3.75% APY) all pay more than that. Some of these rates have requirements, such as a linked checking account. As of November 9, 2026, the highest savings rate Arca tracks is 5.00% APY at Leader Bank Zeugma Plus High Yield Savings (requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions), tied with Axos ONE® Savings (requires a linked checking account, direct deposit or qualifying deposits, and other conditions); both are promotional rates. The highest savings rate with no requirements (no direct deposit, linked checking account or minimum balance) is 4.20% APY at EverBank Performance Savings, for new accounts only. For comparison, Chase and Wells Fargo pay 0.01% APY on standard savings. See how savings rates compare with inflation. Source: Arca Savings, updated November 9, 2026. Inflation: U.S. Bureau of Labor Statistics.
How much more can I earn by switching to a high-yield savings account?
Switching from 0.01% APY to 4.20% APY at EverBank adds $419 per year on a $10,000 balance, $1,047.50 on $25,000, and $2,095 on $50,000 as of November 9, 2026 — for new accounts only, with no requirements. Leader Bank advertises 5.00% APY, a promotional rate, which requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions; otherwise it pays 2.50% APY. Arca charts advertised versus attainable rates weekly. Source: Arca Savings, updated November 9, 2026.
Is it worth switching savings accounts?
Yes, switching is worth it for any meaningful balance as of November 9, 2026. Moving $10,000 from a 0.01% APY account to a 5.00% APY account at Leader Bank earns $499 more per year. That promotional rate requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Opening a high-yield savings account takes 10–15 minutes with no credit check or lock-in. See our High-Yield Savings Switching Guide. Source: Arca Savings, updated November 9, 2026.
Are high-yield savings accounts FDIC insured?
Yes, high-yield savings accounts are FDIC insured up to $250,000 per depositor as of November 9, 2026. Axos Bank, Marcus by Goldman Sachs, American Express High Yield Savings, and SoFi all carry standard FDIC coverage. SoFi additionally extends coverage to $2 million through a partner-bank sweep network. The protection is identical to a Chase or Bank of America savings account. Source: Arca Savings, updated November 9, 2026.
How long does it take to open a high-yield savings account?
Opening a high-yield savings account takes about 5–15 minutes online as of November 9, 2026. SoFi, Marcus by Goldman Sachs, and American Express each advertise roughly 5-minute applications with instant approval in most cases. You need a Social Security number, a government-issued ID, a US address, and an external checking account to fund the initial transfer. First deposits clear within 1–5 business days. Source: Arca Savings, updated November 9, 2026.
Do I have to close my old savings account when I switch?
No, you do not need to close your old savings account when you open a high-yield account as of November 9, 2026. Most users open a new account at Axos, SoFi, or Marcus by Goldman Sachs and transfer the bulk of their balance via ACH, leaving the existing Chase or Bank of America account open with a small balance for direct deposits and recurring bill pay. Source: Arca Savings, updated November 9, 2026.
Why is Arca free to use?
Arca is free to use: it charges consumers $0, and as of November 9, 2026 no bank pays Arca to list an account. Every account on Arca's rate table is ordered by its APY, so no bank can pay for a higher position. Arca provides information, not financial advice. Source: Arca Savings, updated November 9, 2026.
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