Revolut Interest Calculator Savings Account

Compound Interest Formula:

\[ A = P \times (1 + \frac{R}{n})^{n \times T} \]

Principal (P):

Annual Interest Rate (R):

decimal

Compounding Frequency (n):

per year

Time (T):

years

Maturity Amount (A):

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1. What Is The Revolut Interest Calculator?

The Revolut Interest Calculator helps you estimate the future value of your savings using compound interest calculations. It's specifically designed for Revolut savings accounts to show how your money can grow over time.

2. How Does The Calculator Work?

The calculator uses the compound interest formula:

\[ A = P \times (1 + \frac{R}{n})^{n \times T} \]

Where:

\( A \) — Maturity amount (future value)
\( P \) — Principal investment (initial amount)
\( R \) — Annual interest rate (in decimal form)
\( n \) — Compounding frequency per year
\( T \) — Time in years

Explanation: This formula calculates how your savings grow with compound interest, where interest is earned on both the principal and accumulated interest.

3. Importance Of Interest Calculation

Details: Understanding compound interest helps you make informed decisions about savings and investments, showing how small regular contributions can grow significantly over time.

4. Using The Calculator

Tips: Enter your principal amount in dollars, annual interest rate as a decimal (e.g., 0.05 for 5%), compounding frequency (how many times per year interest is added), and time in years.

5. Frequently Asked Questions (FAQ)

Q1: How often does Revolut compound interest?
A: Revolut typically compounds interest daily, but you should check your specific account terms for exact compounding frequency.

Q2: What's the difference between simple and compound interest?
A: Simple interest is calculated only on the principal amount, while compound interest is calculated on both principal and accumulated interest.

Q3: Are there any fees that affect the final amount?
A: This calculator shows gross returns. Actual returns may be affected by account fees or taxes depending on your jurisdiction.

Q4: Can I use this for other savings accounts?
A: While designed for Revolut, this calculator works for any account using compound interest with the same compounding structure.

Q5: How accurate are these calculations?
A: The calculations are mathematically precise based on your inputs, but actual bank rates and terms may vary slightly.