Financial Calculators

Compound Savings (CDN)

Consistent investments over a number of years can be an effective strategy to accumulate wealth. Even small additions to your savings add up over time. This calculator demonstrates how to put this savings strategy to work for you!

Definitions

Opening Balance

The starting balance or current amount you have invested or saved.

Additional contributions

The amount that you plan on adding to your savings or investment each period. The investment period options include monthly, quarterly and annually.

Years / Months, Weeks etc.

The total number of years, weeks, months, periods, etc. you are planning to save or invest.

Rate of return

The annual rate of return for this investment or savings account. Please use a realistic rate. Consult an investment professional for an appropriate rate of return.

Compounding

This is the frequency that your investment's interest or income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. For stock and mutual fund investments you should choose 'Annual'. For savings accounts and Term Deposits all of the options are valid, although you will need to check with your financial institution to find out how often interest is being compounded on your particular investment.

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Rates effective
Aug 27, 2019

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  • 2.40% Savings Accounts
  • 2.35% 1 Year Cashable GIC
  • 2.65% 5 Year Cashable GIC
View all rates