Savings interest calculator

TheDebtinator

I will be making odd payments to a savings account each month for the next 4 years. Is there any way that I can work out how much interest I will earn over this period? Obviously as I am not putting in a lump sum it makes it harder to do, and I cannot find any online calculators for this.

Thanks.

eskbanker

http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator models the interest from regular savings, but if your contributions are irregular then you'd need to do something bespoke in Excel....

Neil_Jones

This'll give you a very rough idea if you know the average of the payments you'd be making:
http://www.moneysavingexpert.com/savings/best-regular-savings-accounts#calculator

After saving £250.00 a month for 4 years and 0 months [in an account paying 1.5%], you will have £12,372.20 in savings, meaning you've earned £372.20 interest.

In the above example if you contribution varies between say £200 and £300 a month you can use an average figure of £250 - the final figure will be a bit out but it shouldn't be too far away.