Compound Interest Calculator
Estimate how your savings can grow over time.
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Compound interest calculator
Portfolio Growth Over Time
This is a hypothetical illustration and not a guarantee of future results.
| Year | Future value | Total contributions |
|---|---|---|
| 0 | $10,000.00 | $10,000.00 |
| 1 | $16,784.56 | $16,000.00 |
| 2 | $23,987.58 | $22,000.00 |
| 3 | $31,634.86 | $28,000.00 |
| 4 | $39,753.81 | $34,000.00 |
| 5 | $48,373.52 | $40,000.00 |
| 6 | $57,524.87 | $46,000.00 |
| 7 | $67,240.66 | $52,000.00 |
| 8 | $77,555.70 | $58,000.00 |
| 9 | $88,506.94 | $64,000.00 |
| 10 | $100,133.64 | $70,000.00 |
| 11 | $112,477.45 | $76,000.00 |
| 12 | $125,582.59 | $82,000.00 |
| 13 | $139,496.03 | $88,000.00 |
| 14 | $154,267.62 | $94,000.00 |
| 15 | $169,950.29 | $100,000.00 |
| 16 | $186,600.24 | $106,000.00 |
| 17 | $204,277.11 | $112,000.00 |
| 18 | $223,044.26 | $118,000.00 |
| 19 | $242,968.92 | $124,000.00 |
| 20 | $264,122.49 | $130,000.00 |
| 21 | $286,580.77 | $136,000.00 |
| 22 | $310,424.23 | $142,000.00 |
| 23 | $335,738.30 | $148,000.00 |
| 24 | $362,613.68 | $154,000.00 |
| 25 | $391,146.68 | $160,000.00 |
Where Your Money Comes From
- Total Contributions$160,000(40.9%)
- Interest Earned$231,147(59.1%)
Ways compound growth can help
Retirement Planning
Secure the lifestyle you envision for your future.
View pageEducation Savings
Build a brighter future for the next generation.
View pageLong-Term Growth
Compound growth can help your wealth go further.
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Talk to a licensed advisor to build a plan that’s right for you.
Talk to an AdvisorHow compound interest works
Compound interest is interest earned on both your original investment and on the interest it has already earned. Every time interest is added to your balance — monthly, quarterly, or annually, depending on the account — that larger balance goes on to earn even more, which is why long-term savings can grow much faster than simple, non-compounding interest over time.
This calculator models that month by month: your initial investment and monthly contribution earn interest at the rate and frequency you choose, and each month’s interest is added to the balance before the next month is calculated — the same way real Canadian savings and investment accounts compound. It’s a general-purpose projection, not tied to any one account type, so it works whether you’re modelling a high-interest savings account, a non-registered investment, or a registered account like an RRSP, TFSA, or FHSA — each of which has its own annual contribution limits and tax treatment worth reviewing separately.
Frequently asked questions
It projects your balance forward month by month: your initial investment and monthly contribution earn interest at the rate you enter, compounded at your chosen frequency (monthly, quarterly, or annually). Each month's interest is added to the balance before the next month's contribution and interest are calculated, which is how real Canadian savings and investment accounts compound.
It depends on the account. A high-interest savings account might earn 2–4%, a balanced RRSP or TFSA investment portfolio has historically averaged roughly 5–7% before fees, and more aggressive equity portfolios can run higher with more risk. Try a few rates to see how sensitive your projection is — a licensed advisor can help you pick one that matches your actual risk tolerance.
No — this tool models compound growth only and doesn't check your RRSP, TFSA, or FHSA contribution room. Combine it with a real contribution plan for those accounts; our RRSP, TFSA, and FHSA pages explain each account's annual limits and tax treatment.
Compounding frequency is how often earned interest is added to your balance so it starts earning interest itself. More frequent compounding (monthly) grows a balance slightly faster than less frequent compounding (annually) at the same stated interest rate, because interest starts compounding sooner.
No. Every number you enter stays in your browser for this calculator session only — nothing is saved to a server, stored, or shared with anyone.
This calculator provides estimates for illustrative purposes only and does not constitute financial advice or a guarantee of future returns. See our disclaimer for details, or talk to a licensed advisor for guidance specific to your situation.