Calculate compound growth and total interest.
Enter principal, annual rate, years and compounding frequency.
₹1,00,000 at 8% compounded monthly for 10 years shows the effect of compounding.
| Compounding | Final Amount |
|---|---|
| Yearly | ₹2,15,892 |
| Quarterly | ₹2,20,804 |
| Monthly | ₹2,21,964 |
Compound interest is interest calculated on both the initial principal and the interest that has already been added, so the amount grows faster than with simple interest over time.
The more frequently interest is compounded (yearly, quarterly, monthly), the faster the total amount grows, since interest gets added to the principal sooner and starts earning its own interest.
For growing your savings, yes. But the same principle works against you on debt like credit cards, where compound interest increases what you owe.
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