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Calculate compound interest on a sum, compounded yearly, half-yearly, quarterly or monthly, with optional monthly additions and a comparison with simple interest.
Your money
What it grows to
The rule of 72: at 8%, money doubles in about 9 years.
Year by year
Compound interest is interest earned on interest. Each time interest is added, the next interest is worked out on the bigger amount, so money grows faster and faster over time.
This calculator works it out for yearly, half-yearly, quarterly or monthly compounding, with an optional amount added every month, and compares it with simple interest.
A = P × (1 + r ÷ n)^(n × t)
₹1,00,000 at 8% for 10 years
Simple interest is paid only on the money you put in. Compound interest is also paid on interest already earned, so it grows faster the longer it runs.
Most Indian banks compound FD interest quarterly. Savings accounts work interest out daily and credit it quarterly.
A = P × (1 + r ÷ n)^(n × t). Take away P to get just the interest.
Roughly 72 divided by the yearly rate: 9 years at 8%, 12 years at 6%. This is the rule of 72.
Results are estimates. Returns are assumed constant, rates and tax rules can change, and your actual numbers will differ. This is not financial or tax advice.