Home -> Savings Interest Calculator

With regular deposits into a high interest savings account you can really earn a lot as the months and years go by. Use the savings caculator below to see how much you could be potentially making.

When you understand that Interest can be very powerful and work for you or against you then you are well on your way to being wealthy.

For example if you open an an account with $5,000 and just by putting away $100 from your weekly salary into a 7% interest account you could earn about $530 after a year. If you were to put in $200 a week then you would earn $698.75 after a year, that's not bad for doing nothing. The more you put in the more momentum you build for your interest income.

If you put in $200 a week for 5 years you would earn $11, 516 just by having your money sitting the bank, you didn't have to work for that $11,516, that works out to be an extra 2 grand a year.

Look what happens after 10 years, at $200 week you would have earned $47,951.78 in interest as well as that you have saved $101,000 so you have a total of $148,951. You've been putting the same amount every week as you did since year 1 however the effect has quadrupled since year 5. So that works out to be an extra 4.7 grand a year if you didn't spend anything, and you didn't have to lift a figure, there's a lot of nice things you can buy for $148,000!

Ok let's say you wait another 5 years so after 15 years you would have earned $119, 741.27 and saved $149,000 thus giving you a total of $268,741.27 dollars! That's nearly 18 grand a year average, where can you get that kind of money for doing nothing?

If you can learn to live without that extra $200 a week, which is not that hard if you really try, then your life can be more comfortable later on, have your employer pay a set amount straight from your salary to a high interest account, you won't even miss it.