Compound Interest Calculator

See how much growth you can expect in your savings accounts by plugging a few numbers into the compound interest calculator.

Enter Your Information

How long do you plan to save and add to your account?


Balance in your savings account, certificate of deposit (CD), etc.


This is the amount you’ll add to savings each month.


Check the current federal funds rate to give you an idea.

Spoiler alert—sometimes it’s well below 1%. 1

Your Results

Estimated Savings Value

In 0 years, your savings could be worth:


Thinking it’s time to set some goals and polish up your money strategy?
  • Initial Balance

    $ 0

    0% of Total

  • Contributions

    $ 0

    0% of Total

  • Growth

    $ 0

    0% of Total

What if I...

  • Saved an extra $100 per month.

    Adds $100 a month in contributions, but creates


    in additional growth

  • Gave up daily coffee purchases.

    Adds $128 a month in contributions, but creates


    in additional growth

  • Gave up weekly restaurant visits.

    Adds $200 a month in contributions, but creates


    in additional growth

Now build a plan to reach $0

Now that you've calculated your estimated retirement savings, your next step is to use a Smartvestor Pro to build your custom retirement plan.

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What is a compound interest calculator for? 

A compound interest calculator is a simple way to estimate how your money will grow if you continue saving money in savings accounts. Your money earns interest every day (if it compounds daily) and then the next day’s interest is calculated based on THAT total instead of on the principal.

Nutshell: You earn interest on top of interest. 

With the relatively low rate of return on savings accounts, it’ll take a hot minute for the growth to add up to anything earth-shattering, but, hey—a savings account beats the heck out of a coffee can full o’ crumpled cash buried in the backyard. Still, though—if you manage your money right, there’s going to come a day when it’s time to raise the bar!

When is it time to start investing?

When you’re debt-free, other than a mortgage, and have three to six months of expenses saved in an emergency fund, you’re ready to start putting a portion of your next paycheck (15% of your pay is a sweet spot) toward investments! The average annual return on stock market investments is usually around 10-12%. Did you notice in the calculator when we said savings account rates are pretty regularly below 1%? 

That’s the reason you should move some of that extra money out of savings and into investments. Dollar bills, folks. 

If it’s time to move your money around so it can go after those higher returns, we’re not gonna lie—there’s a lot to learn. You’ll feel more confident if you get help from a professional. We’ve got a whole network of financial advisors who love helping new investors learn the ropes. See for yourself when you connect with a pro in your area.