How much interest will a $15,000 high-yield savings account earn over the next year?
Moving $15,000 into a high-yield savings account makes sense now. Here's how much interest you can earn if you do.
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August 12, 2026 / 12:14 PM EDT / CBS News
While it may be tempting to wait until you've reached a savings milestone to shift a portion of your funds into a high-yield savings account , the reality is that delaying action will result in lost interest-earning opportunities in the interim. Look at high-yield savings account rates, for example, which sit around 4% now. That's $4 earned for each $100 deposited, after a select period of time. But the average rate on a traditional savings account is just 0.38% currently, according to the FDIC , which is actually lower than it was earlier in the year. Keeping any portion of your money there, then, doesn't make much financial sense.
Fortunately, you can make a switch easily as multiple banks offer high-yield savings account options for customers. And, if you have $15,000 at play, making a transfer is critical to do now as you're already missing out on a sizable return. What will those returns look like, however, particularly over the next year? While these accounts have variable interest rates that make precise interest-earnings difficult to calculate, savers can still gain an approximate idea of what they'd earn, especially with the rate climate relatively stable right now. Below, we'll do the math that savers should know before making any transfers.
See how much interest you could be earning with a high-yield savings account here .