A compound interest calculator is a tool designed to help you determine how much your money will grow over time when interest is applied to both the initial principal and accumulated interest. It’s particularly useful for planning investments and understanding loan repayments.
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The Compound Interest Calculator
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About Our Compound Interest Calculator
The compound interest calculator is an essential tool for anyone looking to build their savings or plan their loan repayments. Whether you’re saving for education, a new home, or simply growing your wealth, compounding ensures that your money earns more money! Use the compound interest formula and let time turn small investments into big rewards.
Benefits of Compound Interest Calculator
Boost Your Wealth: Watch your investment grow exponentially with the power of compounding.
Stay Ahead of the Curve: Make informed decisions by calculating exactly how much you’ll earn.
Plan with Precision: Our compound interest calculator gives you accurate insights into future earnings.
Effortless Calculation: Simple, quick, and accurate. Plug in the numbers, and you're good to go!
Features of Compound Interest Calculator
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
Compound Interest Calculator EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Compound Interest Calculator
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Aman Singh
Mumbai
I’ve always heard about how compounding can grow your wealth, but I never realised its true potential until I used Ring’s compound interest calculator. I started with a small investment and played around with the inputs—seeing the future numbers really gave me confidence. It's exciting to watch my money grow exponentially, and I’ve already set up a few more savings plans based on these calculations. It’s been a real eye-opener, and now I can plan for my future with more certainty.
Meenal Patel
Ahmedabad
Planning for the future can be overwhelming, especially when you don't know where to start. I found Ring’s compound interest calculator, and it made everything so simple! I could input different amounts, interest rates, and time frames to see how much I could save for my dream home. With just a few adjustments, I saw how much faster I could reach my goals by increasing my monthly deposits. I feel more empowered to save now and can't wait to see my long-term results!
Ramesh Kumar
Chennai
As a business owner, managing finances is key, but I was never great with numbers. When I stumbled upon Ring’s compound interest calculator, I couldn’t believe how easy it was to use. I used it to understand how my loan repayments would build up, and it gave me a clear picture of the total amount I'd end up paying over time. The ability to plan and compare different loan options made it a lifesaver for me. Highly recommended for anyone who wants to take control of their financial future!
Priya Joshi
Pune
I was new to saving and investing, and all the technical jargon around compounding confused me. But the compound interest calculator from Ring made everything crystal clear! I started small, calculating how much I could save monthly over the next five years, and was amazed at how quickly my savings could grow. The best part? It was easy to tweak the numbers and see how minor changes could make a big difference in the long run. Now, saving has become a habit, and I have clear financial goals.
Saurabh Verma
Kolkata
As someone who loves to experiment with different investment strategies, the compound interest calculator became my go-to tool. I could visualise my returns instantly and adjust my plans accordingly. It also helped me decide how much to invest in different accounts by comparing compounding frequencies. Ring’s calculator gave me the confidence to diversify my investments, knowing I was making the right choices. If you're serious about growing your wealth, this is the tool for you!
Anjali Nair
Bengaluru
Taking out a loan always made me anxious—especially with the idea of paying a ton of interest over the years. But Ring’s compound interest calculator gave me the clarity I needed. I could calculate exactly how much interest would accumulate and the total I’d be paying by the end of the loan. It also showed me how paying off the loan early could save me money. I feel so much more in control of my finances now, and I highly recommend the calculator to anyone who wants to take charge of their financial decisions.
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Got Questions? Let's get to them.
What is a compound interest calculator?
How does compound interest work?
Compound interest means you earn interest not just on your initial investment but also on the interest that has already been added to it. Essentially, it’s interest on interest! This accelerates the growth of your wealth over time, and the longer you let it compound, the more you earn. The compound interest formula helps calculate this easily.
Can the compound interest calculator be used for loans as well?
Yes! You can use the compound interest calculator for both investments and loans. For loans, it calculates how much interest you'll be paying over time, considering the compounding frequency (daily, monthly, yearly). It helps you understand your total repayment amount and plan better.
What information do I need to use the compound interest calculator?
You’ll need to input the principal amount (the amount you’re investing or borrowing), the interest rate, the time period for which the interest will compound, and the frequency of compounding (daily, monthly, or yearly). With this information, the compound interest calculator will provide an accurate estimate of how much you'll earn or owe.
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