Irish money
Compound interest calculator
Final value, contributions, growth, and a year-by-year chart.
How to use it
- Enter what you start with, what you add, the annual rate and the years.
- Choose a monthly or annual contribution, or none, and how often interest compounds.
- Add a yearly rise in the contribution, or an inflation rate if you want the result in today’s money.
- Read the final value, the amount you contributed and the growth.
Interest first, then the contribution
These figures are estimates. They are not tax advice and they are not financial advice. Interest for the month is added, and the contribution follows it. A monthly rate is the annual rate divided by 12. A daily rate uses a 365-day year and the month lengths of a non-leap year. An annual rate is applied once, in December, before that month’s contribution. From year 2, a contribution increase compounds.
€1,000 left for a year at 5%, compounded annually, becomes €1,050. The same €1,000 with €100 added every month and no interest finishes at €2,200, and €1,200 of that was money you paid in. Growth is whatever is left after the start and the contributions. Each interest step is rounded to the nearest cent.
Deposit interest and fund growth are taxed differently
This projection is before tax. Interest credited to an Irish deposit account is usually paid after Deposit Interest Retention Tax at 33%. Growth inside an Irish investment fund, or an equivalent offshore fund, is usually charged to exit tax at 38% rather than to Capital Gains Tax. Neither charge is taken off the figure here. The rates, the 8-year deemed disposal and the CGT exemption are on the capital gains and exit tax calculator.
Questions
Is the inflation line a forecast?
No. It restates each closing value in today’s money at the inflation rate you typed, by dividing by (1 + that rate) to the power of the year.
Why is a daily result not the same as a monthly one?
Daily compounding walks through the days in each month of a 365-day year. Monthly compounding uses one twelfth of the annual rate. The page is not converting an APR.