Savings Calculator
See how your savings grow with compound interest over time, or find out how long it takes to reach a savings goal.
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Results
Final balance£31,807
Total deposits£25,000
Interest earned£6,807
Final balance£31,807
Starting with an initial deposit of £1,000 and saving £200 per month at 4.5% annual interest over 10 years, your savings would grow to £31,807. You would have deposited £25,000 in total and earned £6,807 in interest.
Balance breakdown
Total deposits£25,000
Interest earned£6,807
Savings growth over time
DepositsInterest
Year-by-year breakdown
| Year | Opening balance | Deposits | Interest | Closing balance |
|---|---|---|---|---|
| 1 | £1,000.00 | £2,400.00 | £96.06 | £3,496.06 |
| 2 | £3,496.06 | £2,400.00 | £210.73 | £6,106.80 |
| 3 | £6,106.80 | £2,400.00 | £330.67 | £8,837.47 |
| 4 | £8,837.47 | £2,400.00 | £456.12 | £11,693.58 |
| 5 | £11,693.58 | £2,400.00 | £587.33 | £14,680.91 |
| 6 | £14,680.91 | £2,400.00 | £724.56 | £17,805.47 |
| 7 | £17,805.47 | £2,400.00 | £868.10 | £21,073.57 |
| 8 | £21,073.57 | £2,400.00 | £1,018.24 | £24,491.81 |
| 9 | £24,491.81 | £2,400.00 | £1,175.27 | £28,067.09 |
| 10 | £28,067.09 | £2,400.00 | £1,339.52 | £31,806.61 |