Savings Calculators
Use these savings calculators to work out the interest on your savings. The first form calculates the interest on a lump savings amount. The second savings calculator allows you to add a regular amount as a monthly deposit. You can choose whether to compound the interest monthly or yearly. After clicking the 'calculate' button, the system displays the calculation results on a year-by-year basis.
Whilst every effort has been made in building this savings calculator tool, I am not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the calculation tools and information derived from the web site. This savings calculator is provided purely as a service to you, please use it at your own risk.
Any calculations given by this savings calculator are for guide purposes only. An independent financial advisor should be consulted for professional guidance.
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Savings - choosing when interest is paid
This savings calculator allows you two options for calculating interest. With some savings accounts, interest can be calculated and paid in at the beginning of the following month or year. However, to give you an idea of the amount you will have earned from your money in that set period, you may wish to leave it calculating and adding interest at the end of the same month or year (end of month/year option). This appears to be the most common method of calculation with other online savings calculators.
