Money Market Calculator
See what a money market account really returns once compounding and regular deposits are included, and compare two rates side by side before you move your savings.
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Reading a Money Market Rate Properly
What is the difference between APY and interest rate?
The interest rate is the plain rate before compounding. APY folds compounding in, so it tells you what you actually end up with over a year. When you compare two accounts, compare the APY, because that is the figure that already accounts for how often interest is added.
Does the rate stay the same?
Usually not. Money market rates are variable and move with the wider market, so the projection above assumes today’s rate holds for the whole term. Treat the result as a shape, not a promise.
Is the interest taxable?
In most cases interest counts as income in the year it is paid. This calculator shows the figures before any tax, so your real return will be lower depending on your rate.
What about minimum balances and fees?
Many money market accounts pay the advertised rate only above a minimum balance, and some charge a monthly fee below it. Check both before you compare, because a fee can quietly cancel out a better rate.
This calculator is for general guidance and education. Projections assume a fixed rate and ignore tax, fees and minimum balance rules. It is not financial advice.