Rate of Interest (P.a)
Time Period (Years)
A compound interest calculator is an online tool that helps calculate compound interest. You can calculate this compound interest on the principal amount on a daily, monthly, or yearly basis.
Navi’s compound interest calculator is extremely easy to use. All you have to do is enter the amount you want to invest, tenure and the annual rate of return. The online calculator will display the calculated compound interest amount in a few seconds.
The compound interest calculator takes three aspects into consideration which include the principal amount, interest rate and tenure. Though you can manually calculate the compound interest, it can be time-consuming. Alternatively, using an online calculator could make your life easier.
Here’s how to use Navi’s compound interest calculator:
You can use the formula given below to calculate compound interest manually:
A = P (1+r/n)nt, where A = future value of the investment, P = principal amount, r = rate of interest in decimal, n = number of times interest will be compounded, T = number of periods for which you have invested the money.
For example, if you invest ₹50,000 for 5 years at an annual interest rate of 10% and your returns get compounded annually. The interest component will rise to ₹30,526 at the end of 5 years. As a result, the total amount will be ₹80,526.