The amount of interest paid on your savings on an annual basis depends on the amount you deposit. The actual amount of interest paid varies, as your balance will increase with each interest paid. The moment you open an account, you’ll receive your APY or an Annual Percentage Yield. The APY is the estimated annual rate of return with compound interest added. The APY is based on your average daily balance, and, as such, it’s prone to variation. The more money you invest, the higher your earnings will be. Based on the terms of your savings, you can get a calculation by contacting your bank.