What does ₹12,000 become after 3 years?
Based on these numbers, your ₹12,000 deposit grows to about ₹13,498 — ₹1,498 in interest, added to the balance each year rather than paid out separately.
What is a Post Office Savings Account?
The most basic India Post savings product — works much like a bank savings account. Interest is calculated on the balance and credited once a year, then itself starts earning interest the following year. There is no fixed maturity date, since it’s a running account, not a term deposit — so "years" here is just how far ahead you want to see the balance projected, not a scheme-imposed term.
What this simplifies
Real accounts calculate interest on the minimum balance between the 10th and last day of each month, not a flat annual figure on the opening balance — if you make withdrawals or deposits during the year, your real interest will differ from this projection. This calculator assumes the balance sits untouched for the whole period.