Savings Guide
How Compound Interest Grows Savings
Compound interest allows your money to grow faster because you earn interest not only on your initial investment but also on previously earned interest.
What is compound interest?
Compound interest means that each year your interest is added to your total, and the next year you earn interest on that larger amount.
Why time is important
The longer your money stays invested, the more powerful compounding becomes. Time is one of the most important factors in growing savings.
Impact of interest rate
Even small increases in interest rate can significantly increase your future value over long periods.
Try the savings calculator
Use the savings calculator to see how your money grows with different interest rates and time periods.
Open Savings Calculator