Savings Calculator
See how compound interest grows your savings, or find out how long it takes to reach a target.
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Compound interest reinvests your earnings, so even small monthly contributions grow significantly over time.
Interest earned is calculated monthly. Actual returns depend on your bank's compounding frequency.
Final balance$94,435
Total contributed$70,000
Interest earned$24,435
Year 1$16,677
Year 2$23,695
Year 3$31,072
Year 4$38,827
Year 5$46,978
Year 6$55,547
Year 7$64,554
Year 8$74,021
Year 9$83,973
Year 10$94,435
How it works
Compound interest means you earn interest on both your original deposit AND the interest already earned. The formula: A = P(1 + r/n)^(nt) where P is principal, r is annual rate, n is compounding frequency, and t is years.
NZ savings context
Typical savings accounts in NZ earn 2–5% interest. Term deposits (3–12 months) offer 4–6%. Higher returns typically require investment funds (higher risk).