Savings Account Interest Calculator With Compound Interest Calculation

Savings Account Interest Calculator Sign

This calculator will calculate the compound interest earnings on saving accounts given the rate, length of time, initial deposit, periodic deposits, and compounding frequency.

Plus, unlike some online saving compound interest calculators, the calculator on this page includes an option for calculating interest on savings accounts that offer daily compounding.

And finally, the calculated results also includes a printable savings account growth chart showing the deposits, interest earnings, and balance for each year of the saving term.

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Savings Account Interest Calculator

Calculate savings account interest earnings at customizable deposit intervals and compounding frequencies.

Special Instructions

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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 online 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.

Help and Tools


The benefits of investing funds into a regular savings account.

A Savings Account Can Save You Money and Worries

When most people think of savings accounts, they immediately think of these as being the poorest of all investments. And while they may be correct in terms of the lower interest rates offered, they are not considering all of the benefits of investing money into a regular savings account. Here are a few of the benefits that most people fail to consider.

1. Gain Peace of Mind
The savings account interest rate might be low, but where else can you store money where the safety of your money is guaranteed and insured? Having your funds federally insured against loss can give you peace of mind that you can't get from potential high yield investments that come with the constant fear of losing your principal.

2. Save Money By Becoming Your Own Banker
If you faithfully and continually contribute money to a savings account, over time you will be able to borrow money from yourself when you need it instead of paying interest on a bank loan, or worse, paying the outrageously high interest on a credit card balance. Becoming your own bank can save you thousands of dollars in interest charges over the course of your lifetime.

3. Save Money By Becoming Your Own Insurance Company
If you faithfully and continually contribute money to a savings account, over time, you will be able to increase the deductibles on your insurance policies (self-insurance against modest losses). This has the potential to save you thousands of dollars in auto, home, disability, and health insurance premiums over the course of your lifetime.

4. No Penalties or Fees for Spending Your Own Money
Unlike most other types of investments, regular saving accounts don't come with early withdrawal penalties. If unforeseen events force you to withdraw your funds from a safe, high yield investment that penalizes you for early withdrawal, you can end up earning less than what you could have earned on a regular savings account.

A Savings Account Is Not A Spending Account

All too often I witness people confusing a savings account with being a spending account. They put money in their savings only to drain the account before their deposits have any time to earn any interest at all. This is a very costly habit in terms of your financial future.

A savings account is for saving money for the long term. So the only way to gain the value of a savings account is to NOT get into the habit of spending from it. Once you get into the habit of spending from your savings account, it will be tough to break. Therefore, if you think you might need the funds anytime soon (less than 5-years), I encourage to deposit the money into a checking account instead. "Save" your saving accounts for saving.

Are You Using A Motor Home For Everyday Transportation?

Please be aware that complaining about low savings account interest rates while paying 18% on credit card debt is like complaining about gas prices while using a motor home for everyday transportation. If you really want to do something about low savings rates and high borrowing rates, stop borrowing, and start saving!

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.