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Savings Account Interest Calculator With Compound Interest Calculation

Calculator Preferences
Savings Account Interest Calculator Sign
Savings Account Interest Calculator

This calculator will calculate the compound interest earnings on saving accounts given the rate, length of time, initial deposit, periodic deposits, and compounding frequency (including daily compounding). The Learn tab includes:

  • How a savings account can save you money and worries.
  • How to offset the low rates paid by regular saving accounts.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Start amt:Start amount:Starting amount:Starting amount:

Starting amount:

Enter the current balance of your savings account, or the initial deposit that is not part of the periodic deposits (without dollar sign or commas). This field is optional as long as you enter a periodic deposit amount. The calculator will need either a starting amount, a periodic deposit, or a combination of both, in order to calculate the interest earnings.

Int rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate that the savings account will be earning. Enter as a percentage but without the percent sign (for .02 or 2%, enter 2).

# ofNumber ofNumber of:to calculate interest:

Number of months/years:

Enter the number of selected periods (month or years) you would like the calculator to calculate interest for. Enter integers only (no decimal points). If you would like to calculate interest for partial years, select Months and enter the total months (example: for 5-1/2 years, enter 66 months).

Dep freq:Deposit interval:Deposit frequency:Deposit frequency:

Deposit frequency:

Select the frequency at which you plan to make deposits to your savings account.

Dep amt:Deposit amount:Deposit amount:Deposit amount:

Deposit amount:

Enter the periodic deposit amount for the selected deposit frequency (without dollar sign or commas). Note that the calculator bases its calculations on 360-day years to accommodate daily compounding for monthly, semi-monthly, quarterly, and annual deposits, so please allow for weekly and bi-weekly annual deposit differences (52 weeks and 26 bi-weeks each add up to 364 days).

Compound:Compounding:Compounding interval:Compounding interval:

Compounding interval:

Select the compounding interval that applies to the savings account. Typically, the more frequent the compounding, the more interest you will earn when all other variables are equal.

Future val:Future value:Future value of savings:Future value of savings account:

Future value of savings account:

Based on your entries, this how much your savings account will have grown to for the number of entered months or years.

Total dep:Total deposits:Total of deposits to savings:Total of all deposits made to savings:

Total of all deposits:

Based on your entries, this is the total of your beginning amount plus all periodic deposits for the entered number of months or years.

Interest:Interest earned:Interest earned on deposits:Interest earned on savings account:

Interest earned on savings account:

Based on your entries, this is the total interest you will earn on your savings account for the entered number of months or years.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.