Interest calculator
Estimate simple or compound interest on savings and regular contributions.
Estimate only. It does not account for tax, changing interest rates, withdrawals or provider-specific terms.
Estimated final balance
£0
- Total contributions£0
- Interest earned£0
- Compounding methodMonthly
Calculate savings interest
Use Kandoo's interest calculator to estimate how your savings could grow over time. You can include an opening balance, regular monthly contributions, an interest rate and the length of time you plan to save.
Simple versus compound interest
Simple interest is calculated on the original balance and contributions, while compound interest adds interest to the balance so future interest can be earned on previous interest.
Savings estimates can change
Actual savings growth depends on the account rate, how interest is paid, tax treatment, withdrawals and whether the provider changes the rate.
What is compound interest?
Compound interest means interest is added to the balance, allowing the account to earn interest on previous interest.
Does this include tax on savings?
No. Tax treatment depends on your circumstances and the type of savings account.
Can the rate change?
Yes. Many savings rates are variable, so the final balance could be different from this estimate.