Savings account bonus calculator
The savings account bonus calculator shows what your cash earns at today's best savings rates, up to 4.20% APY, and whether a savings bonus pays more than leaving it where it is. It counts the dollars each option earns over your period and finds the break-even rate where a bonus stops winning. Current rates and bonuses are below it.
What your cash earns today
Bonuses and interest are taxed alike
You can earn
Best bonus pathFrom E*TRADE Premium Savings, held to payout. Staying put wins only above 9.81%.
| Bank | APY | As of | Earned | Notes |
|---|---|---|---|---|
| EverBank | 4.20% | Checked Oct 14, 2026 | $525 | Performance Savings, new accounts only, $0 to open |
| Happen Bank | 4.20% | Oct 14, 2026 | $525 | LevelUp Savings: 4.20% in any month with $250 in deposits, 3.00% otherwise |
| Openbank by Santander | 4.00% | Checked Oct 14, 2026 | $500 | $500 to open; new customers get 0.35% more for 6 months; only in Openbank's service-area states |
| CIT Bank | 3.75% | July 1, 2026 | $469 | Platinum Savings on $5,000 or more; 0.25% below that |
| BrioDirect | 3.75% | Oct 14, 2026 | $469 | $5,000 to open |
| Wealthfront | 3.55% | Oct 1, 2026 | $444 | Cash Account, insured through program banks; new clients get 0.65% more for 3 months |
| Marcus by Goldman Sachs | 3.50% | Oct 14, 2026 | $438 | High-yield savings |
| Betterment | 3.50% | Sept 21, 2026 | $438 | Cash Reserve, insured through program banks |
| Vio Bank | 3.40% | Oct 9, 2026 | $425 | Cornerstone Money Market Savings, $100 to open |
| SoFi | 3.30% | Sept 23, 2026 | $413 | With eligible direct deposit; new members can get up to 4.20% for up to six months through Dec 31, 2026. Without direct deposit the rate is 0.80%. |
| Ally | 3.10% | Oct 14, 2026 | $388 | Online Savings |
| Capital One | 3.10% | Oct 12, 2026 | $388 | 360 Performance Savings |
| FDIC national average | 0.37% | Sept 2026 release | $46 | Benchmark, not an account |
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Figures from each bank's own site.
Key takeaways
- EverBank pays 4.20% APY on new Performance Savings accounts, the top rate we track that comes without conditions, which earns $525.36 on $25,000 over six months.1
- A bonus can beat a better rate: E*TRADE's $400, plus 4.25% APY while you qualify, comes out $482.71 ahead of leaving $25,000 at 3.10%.2
- The FDIC's national average savings rate was 0.37% in its September 2026 release, so a typical bank savings account pays about a tenth of what the accounts below pay.3
How this is calculated
Earned = amount × APY × days ÷ 365. It's simple interest over your period, which stays close to the compounded figure for periods under a year. A promo rate counts only for its promo days, then the base rate takes over.
Bonus advantage = bonus − fees + amount × (bonus account APY − your current APY) × days ÷ 365. When it's above zero, the bonus pays more than staying put.
Break-even rate = the current APY at which the advantage hits zero. If your current account pays more than that, keep your money where it is.
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In this article
How to use the savings account bonus calculator
The savings account bonus calculator needs three inputs, plus an optional tax rate, and it shows a result as soon as the page loads. The defaults are $25,000 kept for six months, with your money now earning 3.10% APY. Change any of them and the tables re-sort.
- Amount: the cash you'd move. It sets the tier on every tiered bonus.
- Where it sits now: pick your bank from the list, or choose Other and enter your APY.
- How long you'll keep it there: in months. A bonus with a longer hold stretches the period to that hold, and the results say so.
- Tax rate: optional. Bonuses and interest are both taxed as interest, so it shrinks both sides equally.
What your results mean
Your results lead with the most your cash can earn over your period, from either the best rate or the best bonus, plus the break-even rate for the bonus you pick. The rate and bonus tables underneath are sorted by dollars earned on your amount, not by APY.
At the defaults, $25,000 earns $387.77 at 3.10% for six months and $525.36 at EverBank's 4.20%, so switching banks is worth $137.59. E*TRADE's path, $400 plus 4.25% for the 105 days it takes to qualify and get paid, comes out $482.71 ahead of staying at 3.10%.
| $25,000 for the period shown | Earned or gained |
|---|---|
| Stay at 3.10% APY for six months | $387.77 |
| Move to 4.20% APY for six months | $525.36 |
| E*TRADE bonus path vs staying at 3.10%, 105 days | $482.71 ahead |
Best high-yield savings rates right now
The best high-yield savings rates below come from each provider's own site, with the date that site shows. A rate drops off this page if we haven't rechecked it in 10 days. Promo rates show their end date.
| Bank | APY | As of | Notes |
|---|---|---|---|
| EverBank | 4.20% | Checked Oct 14, 2026 (page shows no date) | Performance Savings, new accounts only, $0 to open |
| Happen Bank (formerly LendingClub) | 4.20% | Oct 14, 2026 | LevelUp Savings: 4.20% in any month with $250 in deposits, 3.00% otherwise |
| Openbank by Santander | 4.00% | Checked Oct 14, 2026 | $500 to open; new customers get 0.35% more for 6 months; only in Openbank’s service-area states |
| CIT Bank | 3.75% | July 1, 2026 | Platinum Savings on $5,000 or more; 0.25% below that |
| BrioDirect | 3.75% | Oct 14, 2026 | $5,000 to open |
| Wealthfront | 3.55% | Oct 1, 2026 | Cash Account, insured through program banks; new clients get 0.65% more for 3 months |
| Marcus by Goldman Sachs | 3.50% | Oct 14, 2026 | High-yield savings |
| Betterment | 3.50% | Sept 21, 2026 | Cash Reserve, insured through program banks |
| Vio Bank | 3.40% | Oct 9, 2026 | Cornerstone Money Market Savings, $100 to open |
| SoFi | 3.30% | Sept 23, 2026 | With eligible direct deposit; new members can get up to 4.20% for up to six months through Dec 31, 2026 |
| Ally | 3.10% | Oct 14, 2026 | Online Savings |
| Capital One | 3.10% | Oct 12, 2026 | 360 Performance Savings |
| FDIC national average | 0.37% | Sept 2026 release | Benchmark, not an account |
Savings rates tend to move within days of a Federal Reserve decision. The next two are Oct 28 and Dec 9, 2026, and we recheck the table within two days of each.
Best savings account bonuses right now
The best savings account bonuses below all need new money and a hold, checked on each bank's own offer page.
| Bank | Bonus | New money needed | Hold and payout | Deadline |
|---|---|---|---|---|
| E*TRADE Premium Savings (code SAVE800) | $400 or $800, plus 4.25% APY for six months | $20,000 to $99,999 for $400; $100,000+ for $800 | Deposit within 30 days, keep the average balance for 45 more days, paid within 30 days after | Open by Jan 10, 2027 |
| Chase Savings | $100 or $200 | $5,000 to $9,999 for $100; $10,000+ for $200 | Deposit within 30 days, keep it 90 days, paid within 15 days | Expires Jan 27, 2027 |
| Capital One 360 Performance Savings (code EARN1500) | $75, $300, $750 or $1,500 | $5,000, $20,000, $50,000 or $100,000 | Deposit within 15 days, keep it 90 more days, paid within 60 days | None stated |
E*TRADE limits each person to two of these bonuses for life, and Capital One excludes anyone who has had one of its savings accounts since Jan 1, 2024. On $100,000, Capital One's $1,500 beats E*TRADE's $800, though E*TRADE pays a higher rate while you wait. Chase charges a $5 monthly fee unless the balance stays at $300 or more, which any qualifying deposit covers.4
Is a savings account bonus worth it?
A savings account bonus is worth it when the bonus is bigger than the interest you'd give up by moving. The bonus is fixed, the lost interest isn't: it grows with your balance, your current rate and the length of the hold.
Chase's $200 on $10,000 held for 90 days gives up at most $76.44 of interest at 3.10%, so the bonus comes out at least $123.56 ahead even before Chase's own interest. Put $50,000 in for the same $200 and you give up $382.19, so staying put wins. Compare the best high-yield savings accounts for where to keep the money afterward, and use the Tweed CD Calculator if you can lock the money away for a fixed term.
How savings bonuses are taxed
Savings bonuses are taxed as interest, and banks report them on a Form 1099-INT. The IRS instructions put amounts of $10 or more in box 1 "whether or not designated as interest."5
Taxes don't change which option wins, because the bonus and the interest you'd otherwise earn are taxed the same way. They just shrink both totals.
Frequently asked questions about savings account bonuses
Taxes on savings bonuses are covered in their own section above.
What is a good savings account interest rate right now?
A good savings account interest rate right now is anything well above the FDIC national average of 0.37%. The accounts in our rate table pay 3.10% to 4.20% APY as of October 2026. Rates move after Federal Reserve decisions, so check each row's as-of date before you move money.
Can you lose a savings bonus by withdrawing early?
Yes, you can lose a savings bonus by withdrawing early, because most bonuses require the new money to stay for a set period. Chase wants it there for 90 days. E*TRADE checks your average balance for 45 days after the deposit window, and pulling money out before then can cost you the bonus.
Do you need a direct deposit for a savings bonus?
No, most savings bonuses need a deposit of new money, not a direct deposit. That's what separates them from checking bonuses, which usually want paychecks. SoFi is the exception in the rate table: its top rate and bonus both depend on eligible direct deposit into its checking and savings account.
What counts as new money for a bank bonus?
New money for a bank bonus is money that comes from outside the bank, not from another account you already hold there. Moving cash from your existing checking to a new savings account at the same bank usually doesn't count. Each bank defines it in its offer terms, so read them before you transfer.
Is a high-yield savings account safe?
Yes, a high-yield savings account at an FDIC-insured bank is protected up to $250,000 per depositor, per bank, for each ownership category. That coverage is the same at an online bank as at a branch bank. The higher rate comes from lower costs, not from more risk to your deposit.
How often do savings rates change?
Savings rates can change at any time, but most online banks move them within days of a Federal Reserve decision. Between decisions they tend to hold steady. We recheck each rate at least every 10 days and within two days of each Fed meeting, and the calculator hides any rate we haven't confirmed.
Personal finance writer, former Forbes contributor and This Week in Fintech writer. He isn't a financial advisor or a CPA.
Sources
- https://www.everbank.com/banking/performance-savings
- https://us.etrade.com/bank/premium-savings-account
- https://fred.stlouisfed.org/series/SNDR
- https://account.chase.com/consumer/banking/savingsoffer
- https://www.irs.gov/instructions/i1099int