Compound Interest & Savings Calculator
Project how savings grow with compound interest and regular contributions, year by year. A free savings calculator that runs in your browser.
Your plan
Projected outcome
Growth over time
| Year | Contributions | Interest | Balance |
|---|---|---|---|
| 1 | $8,000 | $460 | $8,460 |
| 2 | $11,000 | $1,169 | $12,169 |
| 3 | $14,000 | $2,147 | $16,147 |
| 4 | $17,000 | $3,413 | $20,413 |
| 5 | $20,000 | $4,986 | $24,986 |
| 6 | $23,000 | $6,891 | $29,891 |
| 7 | $26,000 | $9,150 | $35,150 |
| 8 | $29,000 | $11,789 | $40,789 |
| 9 | $32,000 | $14,836 | $46,836 |
| 10 | $35,000 | $18,320 | $53,320 |
| 11 | $38,000 | $22,272 | $60,272 |
| 12 | $41,000 | $26,727 | $67,727 |
| 13 | $44,000 | $31,722 | $75,722 |
| 14 | $47,000 | $37,294 | $84,294 |
| 15 | $50,000 | $43,485 | $93,485 |
| 16 | $53,000 | $50,342 | $103,342 |
| 17 | $56,000 | $57,910 | $113,910 |
| 18 | $59,000 | $66,243 | $125,243 |
| 19 | $62,000 | $75,395 | $137,395 |
| 20 | $65,000 | $85,425 | $150,425 |
Project a savings balance year by year
Enter a starting amount, a monthly contribution, an expected annual return and the number of years, then choose whether interest compounds yearly, quarterly, monthly or daily. The result shows the final balance, the total you put in, and the interest earned on top, followed by a bar chart and a year-by-year table of contributions, interest and balance. Projections run to a maximum of 60 years and are shown in your chosen currency.
Contributions are modelled as monthly deposits that start earning from the month they land, which matches how a savings account or a systematic investment plan behaves more closely than the textbook formula that adds a year of deposits in one lump. The compounding frequency changes the effective monthly rate: 7% compounded daily grows slightly faster than 7% compounded yearly, and the table makes that difference visible rather than hiding it in a single number.
The return field is a nominal rate before inflation, fees and tax, so treat long-range figures as a scenario rather than a forecast. A 7% nominal return is about 4.4% in real terms if inflation runs at 2.5%, and the balance at the end would buy correspondingly less. The calculation runs in your browser and nothing you enter is stored or sent.
Frequently asked questions
What is the compound interest formula?
For a lump sum it is A = P × (1 + r/n)^(n×t), where P is the principal, r the annual rate, n the compounds per year and t the years. This calculator converts that to an equivalent monthly rate and adds each monthly contribution before compounding the next month, so regular deposits are handled too.
How much difference does daily versus monthly compounding make?
Less than people expect. At a 7% nominal rate the effective annual return is 7.00% compounded yearly, 7.23% monthly and 7.25% daily. The term and the contribution amount matter far more than the frequency.
Does the projection account for inflation or fees?
No. Enter a rate net of fees if you know it, and remember that the final balance is in future money. Subtracting expected inflation from the return gives a rough real-terms figure.
Can I use this as a SIP calculator?
Yes. Set the starting amount to zero or to your existing balance, the monthly contribution to the SIP instalment, and the annual return to the rate you expect. The year-by-year table shows how much is contributions and how much is growth.
Why does my bank quote a different rate from the one I entered?
Banks usually advertise an effective rate (AER or APY) that already includes compounding, while this field takes a nominal rate. If you only have the effective rate, enter it with yearly compounding and the result will match.