This tool shows the benefits of compounding over a range of saving periods. You enter an interest rate that you expect to earn on your deposits. The calculator assumes you are using a tax-advantaged account and that interest is compounded monthly.*
Compounding is the process of adding interest to your original deposit and contributing the sum for another identical period. The more frequent the compounding is, the greater the future value. Similarly, the higher your savings interest rate, the greater the future value of your savings.