Initial Deposit:This is the first amount of money you started with in your savings.
Monthly Contribution:This is how much you are willing to contribute to your savings every month.
Interest Rate:This is the percentage of interest the bank will pay for your savings.
Tenor:This is how long you will be saving for,it could be in months or years.
Interest Earned:This is the amount of money you earned based on the interest rate on your savings.
Contribution Frequenty:This is how often you want to add to your savings,the options include weekely,bi-weekly,monthly and annually .
Interest Compounding :This is your earnings on your savings/investment plus previous interest.Using this calculator you can compute how often
your interest is added in your account,the options include daily,weekely,bi-weekly,monthly,quartely and annually .