Compounding with Additional Deposits
Combining the power of interest compounding with regular deposits into your savings account, SIP, Roth IRA or 401(k) is an efficient saving strategy that can significantly boost the growth of your money in the long run. For example, if you add an extra Rs. 100 per month into your investment, after 20 years, your balance can reach up to Rs. 67,121, with interest of Rs. 33,121 on total deposits of Rs. 34,000.
Financial institutions always emphasize the importance of starting regular investment contributions early in life. This helps you see significant growth in your savings over time as your interest snowball gets larger and you gain from Dollar-cost or Pound-cost averaging.
Compound Interest Calculator
Our Online Compound Interest Calculator tool can help you calculate the future value of your investment considering compound interest.
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