Your money,
working harder than you.
See how consistent monthly contributions grow over time with this free compound interest calculator built for Canadians. Whether you’re saving inside a TFSA, an RRSP, or a non-registered account, the math is the same: time and rate do the heavy lifting. Adjust your monthly amount, expected return, and time horizon to find a savings pace that works for you.
Frequently asked questions
Each month, your balance earns interest on itself: new balance = (old balance × (1 + annual rate ÷ 12)) + monthly contribution. Because interest is added before the next month's contribution is counted, every dollar you put in starts compounding immediately. Over long time horizons, this monthly compounding produces meaningfully more than simple annual compounding.
A globally diversified all-equity ETF like XEQT or VEQT has historically returned roughly 7–10% annually in nominal terms before fees, though past performance does not guarantee future results. A balanced ETF (60% equity / 40% bonds) is closer to 5–7%. This calculator defaults to 10% as a reference point; adjusting the slider down to 6–7% gives a more conservative estimate for long-term planning.
At a 7% annual return, saving $583 per month (roughly the 2026 TFSA annual limit spread across 12 months) grows to approximately $1 million after about 35 years. At a 9% return, the same monthly amount reaches $1 million in roughly 28 years. Use the monthly savings slider to find the number that works for your timeline.
No. All figures shown are nominal, meaning they reflect the future dollar amount but not its purchasing power after inflation. To estimate real returns, subtract Canada's approximate long-run inflation rate of 2% from the annual return you enter. A 7% nominal return is roughly a 5% real return.
The blue line shows your total portfolio value, which includes both your contributions and the growth earned by investing them. The indigo line shows only what you personally deposited. The gap between the two lines is the market's contribution — the money your money made. That gap tends to overtake your contributions somewhere around year 13–16 at a 10% return.