Here's How Long It Takes to Double Your Money in a High-Yield Savings Account

If you're trying to grow your savings, you've probably heard that a high-yield savings account (HYSA) is a great place to start. But how fast does your money actually grow? And more importantly -- how long will it take to double?

With today's higher interest rates, your savings can grow much faster than in a traditional bank account. But it still takes time. Let's break it down in simple terms.

The Rule of 72: A quick way to estimate growth

An easy way to figure out how long it takes to double your money is to use the Rule of 72. Here's how it works:

Take 72 and divide by your interest rate. The number you get is how many years it will to double your money

Our Picks for the Best High-Yield Savings Accounts of 2025

Product	APY	Min. to Earn
American Express® High Yield Savings Member FDIC. APY 3.70% Rate info 3.70% annual percentage yield as of April 12, 2025. Terms apply. Min. to earn $0 Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC.	3.70% Rate info 3.70% annual percentage yield as of April 12, 2025. Terms apply.	$0	Open Account for American Express® High Yield Savings On American Express's Secure Website.
CIT Platinum Savings Member FDIC. APY 4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY Min. to earn $100 to open account, $5,000+ for max APY Open Account for CIT Platinum Savings On CIT's Secure Website. Member FDIC.	4.10% APY for balances of $5,000 or more Rate info 4.10% APY for balances of $5,000 or more; otherwise, 0.25% APY	$100 to open account, $5,000+ for max APY	Open Account for CIT Platinum Savings On CIT's Secure Website.
Barclays Tiered Savings Member FDIC. APY 4.15% Rate info Balances less than $250,000 earn 4.15%, and balances greater than $250,000 earn 4.40% APY. Min. to earn $0 Open Account for Barclays Tiered Savings On Barclays' Secure Website. Member FDIC.	4.15% Rate info Balances less than $250,000 earn 4.15%, and balances greater than $250,000 earn 4.40% APY.	$0	Open Account for Barclays Tiered Savings On Barclays' Secure Website.

So, if your HYSA offers 4% APY (which many do right now):

• 72 ÷ 4 = 18 years -- Your money doubles in 18 years
• At 5% APY -- 72 ÷ 5 = 14.4 years
• At 6% APY -- 72 ÷ 6 = 12 years

The best high-yield savings accounts today offer between 4.00% and 5.00% APY, so realistically, your savings could double in about 14 to 18 years.

"That's a long time…" -- but here's why it's still worth it

I get it; 14 to 18 years sounds like forever. But here's the thing:

1. Your money is 100% safe. Unlike the stock market, where you could lose money, an HYSA guarantees steady, risk-free growth.
2. It's totally passive. You don't have to check stocks, rebalance investments, or stress about timing the market. Your money just grows.
3. You're beating the average by a long shot. A traditional savings account at a big bank offers an average 0.41% APY (pocket change, in comparison). With an HYSA, your money actually works for you.

Want to grow your money faster? Try these tips

If you want to speed up your savings growth, here are a few ways to make it happen:

Get the best rate you can

HYSAs are often online banks and offer the highest rates (around 4.50% right now). Take a few minutes to compare the best high-yield savings accounts and move your money where it earns the most.

Set up automatic transfers

Saving is much easier when you don't have to think about it. Automate transfers from your checking account or split your direct deposit so you're building your balance every month.

Consider a CD for even higher rates

Some certificates of deposit (CDs) offer rates slightly higher than HYSAs now -- we've found a couple banks and credit unions offering up to 5.00%. But you'll need to keep your money locked in for a set time. If you don't need quick access to your cash, this could be a great option to grow your money faster.

Keep your long-term savings in the stock market

HYSAs are the perfect place to keep your short-term savings and emergency fund, but the stock market builds long-term wealth. The S&P 500 has averaged an average 10% return annually.

Start earning up to 10 times the national average on your savings today. Check out our list of the best high-yield savings accounts now.

Start growing your savings today

If you don't have a high-yield savings account yet, now is the time to open one. The sooner you start, the longer compound interest has to work its magic.

Take a minute to compare today's best high-yield savings accounts -- because leaving your cash in a low-interest bank account means missing out on free money.