When you are earning interest on a savings plan, the amount of interest you earn can be different depending on different interest compounding intervals applied to a given plans interest calculations. For example, earning 5% interest on your savings compounded daily will lead to a different total interest than if you were to earn 5% interest compounded monthly.

This compound interest calculator will calculate your savings and interest for a savings plan based on a number of different compounding intervals.

To input details of you savings plan, you can input your initial investment, how much money you deposit into your savings monthly, the annual interest rate and the number of years you will continue the savings plan.

The calculator then calculates a number of metrics for different compounding and deposit intervals. These intervals can be daily compounding, monthly, quarterly and annual compound intervals.

For each of these compound intervals the calculator will calculate the value of your savings after you have completed your savings plan and the total interest you earn over the course of your savings plan.

A couple of assumptions that are made in the calculations you should be aware of are as follows:

- Each compounding interval assumes that deposits are made according to the same interval. So, for example, when you are looking at the results for the quarterly compounding interval, the calculator assumes you are depositing money at the end of each quarter. In this case the deposit amount would be three times the monthly deposit specified in the inputs. The output of the calculator also shows your regular deposit amount for each of the compound intervals.
- It is assumed under the case of Daily compounding that there are 365 days in the year.

Please note that this is a general compound interest calculator to give a basic idea of the sort of future value and interest earned with a savings plan with different compounding options.

Any specific savings plan you might be considering may have its own assumptions about interest calculations, may have different tax implications and fees and may differ from the calculations here in a number of ways.

As such, you should always have a professional advise you about the calculations that may result for any specific savings plan you might be looking at.