Compound Interest Calculators
Work out the compound interest on your savings using these calculators. The first calculator works out interest on a lump savings amount. The second calculator allows you to include regular monthly savings deposits. You can choose whether to have interest compounded monthly or yearly. Savings calculations are displayed on a year-by-year basis. If you are unsure of what compound interest is, view the definition here.
Disclaimer
Whilst every effort has been made in building the compound interest calculators tool, I am not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the calculator tools and information derived from the web site. This compound interest calculators is here purely as a service to you, please use it at your own risk.
The calculations given by the compound interest calculators are only a guide. Please speak to an independent financial advisor for professional guidance.
Please see the full disclaimer for more information.
Choosing when interest is paid
Our compound interest calculators give you two options for calculating interest. With some savings accounts, interest can be calculated and paid in at the beginning of the following month or year. However, to give you an idea of the amount you will have earned from your money in that set period, you may wish to leave it calculating and adding interest at the end of the same month or year (end of month/year option). This appears to be the most common method of calculation with other online compound interest calculators.
What is compound interest?
Compound interest is the concept of adding accumulated interest back to the principal sum, so that interest is earned on interest from that moment on. The act of declaring interest to be principal is called compounding. As an example, a loan may have its interest compounded every month: in this example, a loan with $100 principal and 1% interest per month would have a balance of $101 at the end of the first month.
Daily compounding, monthly compounding, yearly compounding
The compound interest calculator allows you to compound the interest on either a daily, monthly, quarterly or yearly basis.
If you have any problems using these compound interest calculators, please contact me.
