Forecast your future with our free interest calculators | finder.com
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Forecast the future of your money with our free interest calculators

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Determine how much you can save to secure your financial future.

It can be a struggle to take those first moves to begin saving for the future. The first step is deciding how much you need to sock away to meet your goals, and an interest calculator can help forecast your finances and help you plan for any unexpected bumps in the road there.

Calculate your savings

With so many types of savings accounts on the market, it can be hard to know which savings account is right for you. Once you’ve determined your savings style and have an idea of how much money you can put away weekly or monthly, use our interest calculator to compare rates and see the difference they can make to your savings goals.

To use this calculator, you’ll need to input:

  1. The initial amount you’ll deposit into your account. This can be $0.
  2. The amount you’ll deposit each week or month.
  3. The interest rate you’ll earn.
  4. The number of years you plan to save.

The calculator totals the amount of money you’ll have at the end of the savings term, along with a breakdown of how much of the total is interest compared to how much you’ve deposited.

See how much of a difference there can be when you calculate the growth of your savings.

Calculate how compound interest affects CDs

Certificates of deposit allow you to lock in a certain amount of money at a specified rate for an agreed period of time, usually between 3 months and 10 years. This calculator will illustrate how much interest you’ll earn during this time depending on how often it’s compounded. To use it, you’ll need to know the interest rate you’re going to earn, how much you’re depositing and the length of time you’ll be locking your money away.

Dig deeper into how to calculate the best CD rate for you.

Why use a calculator?

Calculators are a fast, accurate way to predict how your money grows over time. They can also help you realize what you spend your money on each month so you can identify how to improve your spending.

Remember that a calculator is only as accurate as the information you put into it. If you don’t accurately represent your spending patterns, your results won’t be accurate. Be honest about what you’re willing to set aside each week or month to get an accurate projection.

Compare savings accounts and CDs

Name Product Fee Minimum deposit to open Minimum balance to earn interest APY
$0
$100
$25,000
or set up a direct deposit of $100+ each month
2.45%
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
$0
$0
$1
2.10%
Enjoy no monthly fees and a competitive APY with this online-only savings account.
$0
$0
$0
2.05%
Earn one of the highest interest rates without the fees.
$0
$100
$0
1.85%
Reach your savings goals with a CIT Bank Money Market account. $100 minimum opening deposit.
$15 per month
(can be waived)
$25
$0
1.80%
Earn one of the highest interest rates if you have at least $10,000 in savings, and access your money by ATM, check or bill pay.
MySavings Account
MySavings Account
$0
$0
$0
2.40%
My Savings Direct offers flexibility, freedom and security in personal banking.

Compare up to 4 providers

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 5-year APY
0.55%
2.6%
2.7%
2.75%
3.1%
2.65%
2.65%
2.7%
2.75%
3.1%
2.6%
2.6%
2.65%
2.7%
3%
2.5%
2.7% on CDs of $25,000+

2.65% on CDs of $5,000 to $24,999

2.5% on CDs of $0 to $4,999
2.75% on CDs of $25,000+

2.7% on CDs of $5,000 to $24,999

2.6% on CDs of $0 to $4,999
3%
2.2%
2.5%
1.4%
1.3%
1.7%
1.85%
2.1%
2.25%

Compare up to 4 providers

Frequently asked questions

Picture: Shutterstock

Ryan Brinks

Ryan Brinks is an assistant publisher for finder.com, where he melds years of experience in business news and online content into creating helpful banking and investing articles. He's passionate about leveraging resources and innovation to streamline success. Of course, he's also passionate about his family and serving his community.

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