Looking in to your financial future
What’s your BIG goal in LIFE? We’re no Mystic Mog but you could be planning a wedding, starting a family, buying your first house, a new car or maybe even planning for your retirement. Whatever it might be, investing with Money Mog could help you get there much quicker. Curious how? Play around with our calculator below to find out more.
Compound interest calculator
The Money Mog compound interest calculator will show you how much your investments could grow over time. Enter different amounts and time periods to see how it could affect your future wealth. The Money Mog base rate starts at 3.5% and could rise to a whopping 5.5% if you refer your friends. The information provided by this calculator is an estimate only and does not reflect the actual interest you may receive. The bank rate is based on the average UK high street bank savings account interest rate paid at 1.18% in 2018: http://www.swanlowpark.co.uk/savings-interest-annual
Your investment
Enter a specific amount or use the slider
Enter a specific amount or use the slider
Potential returns
To reach your target goal quicker click the add friends icons in the potential returns section.
SHARE WITH YOUR FRIENDS
How compound interest works
Compound interest is easy to understand and very powerful when you put it to work. It’s the interest you earn on both your original deposit and on the interest you continue to accumulate. Compound interest allows your investments to grow faster over time.
In an account that pays compound interest, the return is added to the original investment at the end of every compounding period.
That’s typically daily or monthly. Each time interest is calculated and added to the account, the larger balance results in more
interest earned than before.
Capital at risk
When you compound your interest, it joins your initial capital in being ‘at risk’. The rates quoted are based upon the current maximum available 5.5% return for Money Mog, which is achievable if you recommend 4 friends who start to invest with us. The Money Mog rate is a target rate and so it is not guaranteed. It could decrease (with no lower limit) if a large number of loans underperform and/or there is an economic downturn. Similarly, bank saving rates could increase or decrease if there are changes to the Bank of England base rate, which is affected by matters such as national inflationary targets and other government policies.
