Savings Interest Calculator
Savings interest calculator that compares simple interest and compound interest side by side for any deposit. Enter the principal, annual interest rate and term in years, switch between simple interest and compound interest, and instantly see the total interest earned, the final balance with interest, and a yearly breakdown table for every single year of the deposit term. Compound interest uses the standard formula F = P(1+r)^n and supports fractional years such as six months, three months or any custom period, so you can plan fixed deposits, time deposits, education savings, retirement savings and long-term wealth growth with confidence. Every figure is calculated locally in your browser: no registration, no upload, no privacy risk. A clean bilingual interface, an elegant responsive layout that works on phones, tablets and desktops, a printable result card and one-click PNG download make this free savings tool ideal for students, teachers, office workers, families and savers who want to know exactly how much their money can grow before choosing a bank product.
Compound result
| Year | Interest this year | Year-end balance |
|---|---|---|
| 1 | 250.00 | 10,250.00 |
| 2 | 256.25 | 10,506.25 |
| 3 | 262.66 | 10,768.91 |
What is it
Interest is how a bank rewards you for leaving money with it. Simple interest only grows the original principal: Interest = Principal × rate × term. Compound interest reinvests each year's interest, so the interest itself starts earning interest, following F = P(1+r)^n — this is why long-term savings can grow surprisingly fast. This calculator shows both results for the same input, so you can see exactly how much compounding adds over the years.
Notes & fun facts
Compounding was once called the eighth wonder of the world. The story goes that the famous physicist Albert Einstein was asked what the most powerful force in the universe was, and he answered compound interest. Whether he really said it or not, the math is undeniable: money that earns interest on its interest grows faster and faster as the years pass.
Origin & history
Interest has been charged for loans for thousands of years — ancient Mesopotamia and Babylon recorded interest on grain loans. Compound interest was mathematically analysed as early as the 17th century, when Jacob Bernoulli discovered the number e while studying continuously compounded interest, a formula that later became the foundation of modern finance and banking.
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