Savings and compound interest calculator
How a balance grows with regular deposits and compound interest, year by year, at the rate you enter.
With compound interest, interest is added to the balance and then earns interest itself. For example, $10,000 plus $500 a month for 10 years at an example rate of 4.5% a year, compounded monthly, grows to $91,269: $70,000 deposited and $21,269 in interest. The rate is an example, not a market rate; enter the rate from your own account.
Balance at the end
$91,269
before tax on interest
- Total deposited
- $70,000
- Interest earned
- $21,269
- Effective annual rate
- 4.59%
- Deposited
- Interest earned
Assumes the rate stays the same.
Show the numbers as a table
| Year | Deposited | Interest earned |
|---|---|---|
| 1 | $16,000 | $585 |
| 2 | $22,000 | $1,472 |
| 3 | $28,000 | $2,676 |
| 4 | $34,000 | $4,210 |
| 5 | $40,000 | $6,091 |
| 6 | $46,000 | $8,333 |
| 7 | $52,000 | $10,955 |
| 8 | $58,000 | $13,972 |
| 9 | $64,000 | $17,404 |
| 10 | $70,000 | $21,269 |
Year by year
| Year | Deposited | Interest | Balance |
|---|---|---|---|
| 1 | $16,000 | $585 | $16,585 |
| 2 | $22,000 | $1,472 | $23,472 |
| 3 | $28,000 | $2,676 | $30,676 |
| 4 | $34,000 | $4,210 | $38,210 |
| 5 | $40,000 | $6,091 | $46,091 |
| 6 | $46,000 | $8,333 | $54,333 |
| 7 | $52,000 | $10,955 | $62,955 |
| 8 | $58,000 | $13,972 | $71,972 |
| 9 | $64,000 | $17,404 | $81,404 |
| 10 | $70,000 | $21,269 | $91,269 |
Good to know
- Interest earned is generally part of your taxable income, so the amount you keep depends on your tax rate. See the take-home pay calculator.
- Many accounts pay a bonus rate only when conditions are met each month; if a month is missed, the lower base rate applies.
- This assumes deposits at the end of each month and a rate that doesn't change. Real rates change over time.
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Terms on this page
- AUD · Australian dollars
- All amounts on this site are in Australian dollars unless stated.