Savings Interest Calculator
Calculate how much interest your savings account earns over time.
Formula
Annual Interest = Balance × Rate / 100
Year-end Balance = Previous Balance + Interest
Worked Example
Rs. 200,000 earning 10% a year, with the profit added each year, grows to Rs. 322,102 after 5 years: Rs. 20,000 of profit in the first year rising to Rs. 29,282 in the fifth, Rs. 122,102 in total.
How to Interpret the Result
Banks often calculate savings profit on your monthly average or minimum balance and credit it monthly or every six months, and they can change the rate at any time, so treat the result as an estimate.
Common Mistakes
Assuming the advertised rate is fixed. Ignoring withholding tax on the profit. Keeping long-term savings in an account that pays less than inflation.
Learn the Method
Free lessons that explain the ideas behind this calculator:
Frequently Asked Questions
Disclaimer: This tool is for educational and informational purposes only. Results are based on mathematical calculations and may not reflect actual financial outcomes. Always consult a certified financial advisor before making investment decisions.