See how your savings could grow over time with regular contributions and compound interest. Plan your financial future with confidence.
Final Balance
£16,631
Total Deposited
£13,000
Interest Earned
£3,631
| Year | Total Deposited | Interest Earned | Balance |
|---|---|---|---|
| 1 | £2,200 | £72 | £2,272 |
| 2 | £3,400 | £201 | £3,601 |
| 3 | £4,600 | £390 | £4,990 |
| 4 | £5,800 | £642 | £6,442 |
| 5 | £7,000 | £959 | £7,959 |
| 6 | £8,200 | £1,344 | £9,544 |
| 7 | £9,400 | £1,800 | £11,200 |
| 8 | £10,600 | £2,331 | £12,931 |
| 9 | £11,800 | £2,940 | £14,740 |
| 10 | £13,000 | £3,631 | £16,631 |
Tax Note: Interest earned in a standard savings account may be subject to income tax. Basic rate taxpayers have a £1,000 Personal Savings Allowance, while higher rate taxpayers have £500. Interest earned in an ISA is always tax-free. This
A quick overview of the main types of savings accounts available in the UK and their typical rates as of early 2026. Rates vary between providers, so always shop around.
| Account Type | Typical Rate | Access | Tax-Free? |
|---|---|---|---|
| Easy Access | 3.5% - 4.5% | Instant | No* |
| Cash ISA | 3.5% - 4.5% | Instant | Yes |
| Fixed Rate Bond (1yr) | 4.0% - 5.0% | Locked | No* |
| Fixed Rate ISA (1yr) | 4.0% - 5.0% | Locked | Yes |
| Regular Saver | 5.0% - 6.0% | Limited | No* |
| Notice Account (90 day) | 4.0% - 4.8% | 90 days | No* |
* Subject to Personal Savings Allowance (£1,000 for basic rate, £500 for higher rate taxpayers).
This savings calculator uses the compound interest formula to project how your money could grow. Compound interest means you earn interest not only on your initial deposit and contributions, but also on all the interest that has already been added. This "interest on interest" effect, a core concept at Calculator Site, becomes increasingly powerful over longer time periods.
One of the most important lessons in personal finance is that starting early makes a huge difference. Someone who starts saving £100 per month at age 25 will have significantly more at age 65 than someone who starts saving £200 per month at age 35. This is entirely due to the extra years of compound growth. You can explore this further with our Compound Interest Calculator.
Don't Forget About Inflation
It is important to consider inflation. If your savings account pays 4% interest but inflation is 3%, your real return is only about 1%. Over long periods, inflation can erode the value of cash savings. See the impact on your money with our Inflation Calculator.
The best account depends on when you need your money. For most UK savers, maximising your ISA allowance should be a priority, as all interest is tax-free. Our ISA Calculator can help you project tax-free growth.
£20,000
Annual ISA Allowance (2026/27)
5+ Years
Horizon for stock investments
~4.5%
Typical 1-Yr Fixed Rate (AER)
How to use this Calculator Site tool
Enter your initial deposit, how much you can save each month, the interest rate (AER) of your account, and for how many years you want to save. The calculator will instantly project your total balance, total deposits, and the total interest you will have earned, with a clear year-by-year breakdown.
Compound Interest Calculator
See the power of compound interest on any investment.
ISA Calculator
Project your tax-free ISA growth over time.
Inflation Calculator
See how inflation affects your purchasing power.
Pension Calculator
Estimate your retirement income from workplace and state pensions.
Investment Returns Calculator
Compare potential returns across different asset classes.
Premium Bonds Calculator
Estimate your chances of winning with Premium Bonds.
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