Compound interest calculator for savings and investments
Type what you have now, what you add each month, the yearly rate and the years to see what your savings grow to, and how much of it is interest.
Interest is added
Add tax or inflation (optional)
Tax
The real gain is what is left of the interest after inflation. With no inflation typed, all of the interest counts.
Your savings after 20 years
₪264,122
51% of the balance is interest.
- What you put in₪130,000
- Interest earned₪134,122
Each month the balance grows by 6% divided by 12, which is 0.5%, and then ₪500 is added. This repeats for 240 months.
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This table shows the balance at the end of each year.
| Year | You put in | Interest | Balance |
|---|---|---|---|
| 1 | ₪16,000 | ₪785 | ₪16,785 |
| 2 | ₪22,000 | ₪1,988 | ₪23,988 |
| 3 | ₪28,000 | ₪3,635 | ₪31,635 |
| 4 | ₪34,000 | ₪5,754 | ₪39,754 |
| 5 | ₪40,000 | ₪8,374 | ₪48,374 |
| 6 | ₪46,000 | ₪11,525 | ₪57,525 |
| 7 | ₪52,000 | ₪15,241 | ₪67,241 |
| 8 | ₪58,000 | ₪19,556 | ₪77,556 |
| 9 | ₪64,000 | ₪24,507 | ₪88,507 |
| 10 | ₪70,000 | ₪30,134 | ₪100,134 |
| 11 | ₪76,000 | ₪36,477 | ₪112,477 |
| 12 | ₪82,000 | ₪43,583 | ₪125,583 |
| 13 | ₪88,000 | ₪51,496 | ₪139,496 |
| 14 | ₪94,000 | ₪60,268 | ₪154,268 |
| 15 | ₪100,000 | ₪69,950 | ₪169,950 |
| 16 | ₪106,000 | ₪80,600 | ₪186,600 |
| 17 | ₪112,000 | ₪92,277 | ₪204,277 |
| 18 | ₪118,000 | ₪105,044 | ₪223,044 |
| 19 | ₪124,000 | ₪118,969 | ₪242,969 |
| 20 | ₪130,000 | ₪134,122 | ₪264,122 |
These common cases show what ₪10,000 and ₪500 a month grow to.
| Yearly interest | 10 years | 20 years | 30 years |
|---|---|---|---|
| 4% | ₪88,533 | ₪205,613 | ₪380,160 |
| 6% | ₪100,134 | ₪264,122 | ₪562,483 |
| 8% | ₪113,669 | ₪343,778 | ₪854,537 |
| You put in | ₪70,000 | ₪130,000 | ₪190,000 |
Each case starts with ₪10,000 and adds ₪500 at the end of every month, with the interest added monthly and no tax.
The balance is worked out month by month, and a formula gives the total in one step.
- With interest added monthly, the monthly rate is the yearly rate divided by 12. At 6% a year that is 0.5% a month.
- Each month the balance grows by the monthly rate, and then the deposit is added at the end of the month, so the first deposit has not earned anything yet.
- With interest added yearly, the balance grows by the whole yearly rate once a year, and the deposits of that year earn interest for the months they stay in.
- In one step, the balance after n months is the formula below, where S is the starting amount, D is the deposit each month, r is the monthly rate and n is the number of months.S × (1 + r)n + D × ((1 + r)n − 1) ÷ r
For example, ₪10,000 and ₪500 a month at 6% for 20 years: r is 0.5%, n is 240, and the balance is ₪264,122.
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People ask these questions about compound interest.
What is compound interest?+
Compound interest is interest that is added to your balance and then earns interest too. At 5% a year, ₪10,000 earns ₪500 in the first year and ₪525 in the second, because the second year's interest is paid on ₪10,500. Simple interest would pay ₪500 every year.
How much will ₪1,000 a month grow to in 20 years?+
It depends on the rate. With interest added monthly, ₪1,000 a month for 20 years grows to about ₪366,775 at 4% a year, ₪462,041 at 6% and ₪589,020 at 8%. In all you put in ₪240,000.
What is the rule of 72?+
Divide 72 by the yearly rate to get the number of years your money takes to double. At 6% that is 12 years, and at 8% it is 9 years. It is a quick estimate: the exact time at 6% is 11.9 years.
Does it matter if the interest is added monthly or yearly?+
A little. ₪100,000 at 5% a year for 20 years grows to ₪265,330 when the interest is added yearly and ₪271,264 when it is added monthly, which is ₪5,934 more. The more often interest is added, the more it earns on itself, but the rate and the years matter far more.
How is the return on savings taxed in Israel?+
A real gain from selling securities, such as shares and funds, is taxed at 25% for an individual, and at 30% for a substantial shareholder, according to the Tax Authority's annual return form. A real gain is the gain left after inflation. The tax box in the calculator takes 25% off the gain above the inflation you type. Bank deposits and pension products have other rules, so check the one for your product.
An estimate; your bank's figures may differ. The tax on a real gain from securities is from the Tax Authority's capital gains form for the 2025 tax return.
Planning your money? The net salary calculator shows what a month's pay leaves after tax, and the VAT calculator adds VAT to a price or takes it out.
Want to know what inflation did to an amount from years ago? The CPI linkage calculator shows what it is worth today.