Article updated on Sep 13, 2024
Compound interest can help you grow your money exponentially – especially if you put it in a high-yield savings account.
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Written by Emma Woodward is a personal finance writer with a passion for simplifying tricky financial concepts. She has covered loans, budgeting and credit cards for Bankrate, The Financial Diet, Finch, Gusto and Human Interest. When she's not helping you balance your budget, you can find her writing about real estate, food and restaurant tech.
Edited by Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.
Reviews ethics statementOur Experts
Written by Emma Woodward is a personal finance writer with a passion for simplifying tricky financial concepts. She has covered loans, budgeting and credit cards for Bankrate, The Financial Diet, Finch, Gusto and Human Interest. When she's not helping you balance your budget, you can find her writing about real estate, food and restaurant tech.
Edited by Kelly is an editor for CNET Money focusing on banking. She has over 10 years of experience in personal finance and previously wrote for CBS MoneyWatch covering banking, investing, insurance and home equity products. She is passionate about arming consumers with the tools they need to take control of their financial lives. In her free time, she enjoys binging podcasts, scouring thrift stores for unique home décor and spoiling the heck out of her dogs.
CNET staff -- not advertisers, partners or business interests -- determine how we review the products and services we cover. If you buy through our links, we may get paid.
Reviews ethics statementWhy You Can Trust CNET Money
Table of Contents
- Here’s how much you’ll earn in a year by depositing $500 into a high-yield savings account each month
- Don’t have $500 to save each month? Here’s how much you can earn with smaller deposits
- How to choose the right high-yield savings account for you
skodonnell/Getty Images
Emma Woodward is a personal finance writer with a passion for simplifying tricky financial concepts. She has covered loans, budgeting and credit cards for Bankrate, The Financial Diet, Finch, Gusto and Human Interest. When she's not helping you balance your budget, you can find her writing about real estate, food and restaurant tech.