Savings Account Interest Calculator
See how much interest a savings balance earns with regular monthly deposits, using either an APY or a nominal rate.
Quick answer
Savings interest is growth on a balance that earns interest monthly while you add deposits. Each month balance = balance x g + deposit, where g is the monthly growth factor from the APY or nominal rate. Interest is the final balance minus deposits.
Savings Account Interest Calculator
Ending Balance
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Interest Earned
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Your Contributions
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Effective APY
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Interest Share of Balance
Year-by-Year Growth
| Year | Deposits (₹) | Interest (₹) | Balance (₹) |
|---|
Assumptions & method
- APY input: monthly growth factor = (1 + APY)^(1 ÷ 12). Nominal input: daily = (1 + r ÷ 365)^(365 ÷ 12); monthly = 1 + r ÷ 12.
- Each month: balance = previous balance × growth factor + monthly deposit. Deposits are added at the end of the month.
- Effective APY = (monthly growth factor)^12 − 1.
- Interest earned = ending balance − opening balance − total monthly deposits.
- The rate is fixed for the whole period. Tax, fees, minimum-balance rules and inflation are not included. Results are estimates.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
How savings interest builds up
A savings account pays interest on the balance, and that interest is added back so it earns interest too. Your result depends on three things: how much you start with, how much you add each month and the rate you earn. This calculator rolls the balance forward month by month. It accepts either an APY, which already includes compounding, or a nominal rate that it compounds daily or monthly. You get the ending balance, the interest earned, how much came from your own deposits, and a yearly table showing how the balance builds.