Savings future value after 15 years calculator
How much will my saving be worth after 15 years?
Are you prepared to put money aside for 15 years in order to see a sizeable return? If so, the Savings Future Value After 15 Years Calculator will help to manage your expectations about the returns you'll see on this money after a 15-year period. Firstly enter the amount that you are going to be depositing, and then enter the rate of interest that you will be earning. Please note that unless you are putting your money into tax-free savings solutions such as an Individual Savings Account (ISA) or similar, you will need to deduct the tax from your interest.
If you have a lump sum right now that you are able to do without for 15 years, and you wish to purchase a house, consider taking out an offset mortgage. This is a combined mortgage and savings product where you have a savings account that is directly linked to your mortgage balance. This could save you significant amounts on your mortgage, because you deduct the total savings from your mortgage balance and only pay interest on the remainder. You would not then earn any interest on your savings, but as a trade-off it may well work in your favour. If you are unsure about your saving options, consult an independent financial adviser once you have used the Savings Future Value After 15 Years Calculator.