€10,000, 3%, 10 years, yearly
Balance €13,439, of which €3,439 is interest.
Compound interest calculator (Germany, €)
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A fixed rate for the whole term. With yearly crediting, monthly deposits earn simple interest until the year end, as on a German savings account. Tax and inflation are not taken off.
10 thousand
%
years
Interest credited
Balance after 10 years
€13,439
€10,000 paid in grows to €13,439 at 3.00%. Of that, €3,439 is interest and interest on interest.
- Paid in
- €10,000
- Total interest
- €3,439
- Final balance
- €13,439
- Doubles in
- 23.4 years
Year 1Year 5Year 10
How the balance grows
| Year | Paid in | Interest | Balance |
|---|---|---|---|
| 1 | €10,000.00 | €300.00 | €10,300.00 |
| 2 | €10,000.00 | €609.00 | €10,609.00 |
| 3 | €10,000.00 | €927.27 | €10,927.27 |
| 4 | €10,000.00 | €1,255.09 | €11,255.09 |
| 5 | €10,000.00 | €1,592.74 | €11,592.74 |
| 6 | €10,000.00 | €1,940.52 | €11,940.52 |
| 7 | €10,000.00 | €2,298.74 | €12,298.74 |
| 8 | €10,000.00 | €2,667.70 | €12,667.70 |
| 9 | €10,000.00 | €3,047.73 | €13,047.73 |
| 10 | €10,000.00 | €3,439.16 | €13,439.16 |
How compound interest works
With compound interest, each year's interest is added to the balance and earns interest the next year. €10,000 at 3% becomes €10,300 after one year, €10,609 after two and €13,439.16 after ten.
The more often interest is credited, the more you get. With monthly crediting the same €10,000 grows to €13,493.54 in ten years, about €54 more. The effective yearly rate is then a little above the nominal rate.
Regular saving adds to the effect. With €5,000 to start and €100 a month at 4%, the account holds about €47,464 after 20 years, of which €29,000 was paid in. For equity ETFs with costs and German tax, use the ETF savings plan calculator.
Inflation eats part of the growth. With 2% inflation, money at 3% interest grows only about 1% a year in real terms. The inflation calculator shows how much buying power is left.
Sources
What this calculator does not account for
- Capital gains tax on interest above the saver's allowance.
- Rate changes during the term and inflation.
How this is calculated
Formula: Compound interest
Kₙ =K₀ × (1 + p)ⁿWhat the symbols mean
- K₀Starting amount.
- pYearly rate as a decimal, 3% = 0.03.
- nTerm in years.
- KₙBalance after n years.
Good to know
- With monthly crediting the rate per month is p ÷ 12 and n counts months.
- Doubling time is ln 2 ÷ ln(1 + p), roughly 72 ÷ the rate.
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Worked examples
Each example is worked out by the same code as the calculator above.
€5,000 plus €100 a month, 4%, 20 years
Balance €47,464, paid in €29,000.
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<iframe src="/embed/compound-interest-calculator-germany" title="Compound interest (€)" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>Questions
What is €10,000 after 10 years at 3%?
€13,439.16 with yearly crediting, or €13,493.54 with monthly crediting.
What is the difference between simple and compound interest?
Simple interest pays each year only on the starting amount. Compound interest also pays on earlier interest, so the balance grows faster and faster.
How are monthly deposits handled?
With yearly crediting, deposits earn a share of interest until the year end, as on a German savings account. With monthly crediting, interest is added every month.
Is tax taken off?
No. In Germany, interest above the saver's allowance of €1,000 (married €2,000) pays 26.375% capital gains tax including solidarity surcharge.
How long does it take to double my money?
About 23.4 years at 3% and 11.9 years at 6%. The rule of thumb is 72 divided by the rate.