Total Interest Earned
£0
0% of final balance
Results are estimates based on a fixed interest rate and regular contributions. Actual returns will vary. This is not financial advice.
Privacy Policy
Effective Date: April 2026
1. Data Collection
This calculator is completely client-side. No data is collected, stored, or transmitted to our servers. All calculations happen in your browser.
- We do not store your financial inputs
- We do not use cookies or tracking pixels
- We do not set localStorage or sessionStorage
- We do not make external API calls (except Google Fonts)
2. What Data Leaves Your Browser
Only the Inter font from Google Fonts is loaded externally. This is requested from fonts.googleapis.com. Google may log this request—see Google's Privacy Policy for details.
3. Calculation Accuracy
This tool provides estimates only. Calculations assume a constant interest rate and monthly contributions. Actual bank interest rates, fees, and deposit schedules may vary. Consult a financial advisor for investment decisions.
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5. Policy Updates
We may update this policy. The "Last updated" date at the top of the page reflects the most recent revision. Use of this calculator after changes constitutes acceptance of the updated policy.
Frequently Asked Questions
What is compound interest?
Compound interest is interest earned on both your initial investment and accumulated interest from previous periods. Money grows exponentially rather than linearly, making it powerful for long-term savings. For example, £10,000 at 6% annual compound interest grows to £17,959 over 20 years.
How often should interest compound for maximum growth?
Daily compounding yields the highest returns, followed by quarterly, then monthly and annually. The difference between daily and monthly is typically 0.3–0.5% annually. Most savings accounts compound daily or monthly. Choose daily compounding if available for maximum growth on your savings.
What is a good interest rate for savings in 2025?
UK savings rates in 2025 typically range 4–5.5% depending on account type and deposit amount. High-street banks offer 4–4.5%, specialist providers offer 5–5.5%. Compare rates using a calculator to see the long-term impact of even 0.5% differences over multiple years.
How much will £10,000 grow in 10 years?
£10,000 grows to approximately £17,959 over 10 years at 6% annual compound interest compounded monthly. With monthly contributions of £100, the total reaches £26,364. Growth accelerates in later years due to compound effects. This calculator shows year-by-year impact of your contributions.
What is the Rule of 72?
The Rule of 72 estimates doubling time: divide 72 by your interest rate. At 6% interest, your money doubles in 12 years (72÷6=12). This approximation works well for rates between 1–10%. It's useful for quick mental math and understanding long-term growth potential without a calculator.
How does making monthly contributions affect my savings growth?
Monthly contributions dramatically amplify compound growth. Contributing £100 monthly for 10 years at 6% yields £15,293 in interest alone—more than the total principal invested. Regular contributions harness compound interest on each deposit, creating accelerating growth. This calculator shows year-by-year impact of your contributions.