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Annuity Calculator

Find the present value and future value of equal payments, made at the start or end of each period.

By Nitin Raturi · Last reviewed

Your worksheet

How to use the Annuity Calculator

Find what a stream of equal payments is worth today and at the end.

  1. Enter the payment and how often it is made.
  2. Enter the number of years and the interest rate.
  3. Choose whether payments are at the start or end of each period.
  4. Read the future value and present value; open the yearly table to watch it grow.

Good to know

  • Tap the ⓘ next to any field for a short guide to it.

Equal payments, a nominal yearly rate compounded at the payment frequency, and timing you choose.

Payment each period

The same amount paid or received every period, such as a monthly deposit or a rent you collect.

How to fill it in

  • Type 10k, 10000 or 10,000. Allowed range: ₹1 to ₹100 crore.

Example

₹10,000.00 a month for 10 years is ₹12,00,000.00 in total.

Payment frequency

How many payments are made in a year. Interest is compounded at the same frequency.

How to fill it in

  • Choose yearly, quarterly or monthly.

Number of years

How many whole years the payments continue.

How to fill it in

  • Enter 1 to 60 years.

Interest rate

The nominal yearly rate. It is divided by the number of payments a year to get the rate per period.

How to fill it in

  • Enter 0% to 30% a year.

Example

At 8% the default stream grows to ₹18,29,460.35 and is worth ₹8,24,214.81 today.

Keep in mind: A fixed rate is an assumption. Real returns and loan rates can change.

Payment timing

Whether each payment is made at the start or the end of its period.

How to fill it in

  • End of period: an ordinary annuity, such as loan EMIs.
  • Start of period: an annuity due, such as rent paid in advance.

Example

Paying at the start lifts the default future value to ₹18,41,656.75.

Future value of the payments

₹18,29,460.35

120 payments of ₹10,000.00, one at the end of each month, grow to ₹18,29,460.35. The same stream is worth ₹8,24,214.81 today.

Present value today
₹8,24,214.81
Total paid
₹12,00,000.00
Interest earned by the end
₹6,29,460.35
Rate per month
0.67%

Nominal 8% a year, divided by 12 and compounded each month. Payments at the end of each month. Excludes taxes and fees.

Full schedule and CSV

Display rounds only for reading. CSV preserves full precision.

Payments made and their value at the end of each year
YearPaid to date (INR)Value at year end (INR)
1₹1,20,000.00₹1,24,499.26
2₹2,40,000.00₹2,59,331.90
3₹3,60,000.00₹4,05,355.58
4₹4,80,000.00₹5,63,499.15
5₹6,00,000.00₹7,34,768.56
6₹7,20,000.00₹9,20,253.25
7₹8,40,000.00₹11,21,133.08
8₹9,60,000.00₹13,38,685.83
9₹10,80,000.00₹15,74,295.35
10₹12,00,000.00₹18,29,460.35

ChangelogHow we test this calculatorEmbed this calculator

How this calculator works

  1. Step 1List the payments120 × ₹10,000.00One a month for 10 years.
  2. Step 2Grow each to the end₹18,29,460.35Early payments earn interest for longer.
  3. Step 3Or discount each to today₹8,24,214.81What the whole stream is worth now.

An annuity is any series of equal payments at regular intervals: monthly deposits, EMIs, rent or a pension.

Worked example

120 monthly payments of ₹10,000.00 at 8% grow to ₹18,29,460.35.

Default: end-of-month payments
Future value
FV = P × ((1 + k)^N − 1) ÷ k
Present value
PV = P × (1 − (1 + k)^−N) ÷ k
  • Ppayment each month ₹10,000.00
  • krate per month 0.67%
  • Nnumber of payments 120
  1. Total paid₹12,00,000.00
  2. Interest earned₹6,29,460.35
  3. Present value today₹8,24,214.81
  4. Future value₹18,29,460.35

Reading the result

  • End of month (ordinary annuity)₹18,29,460.35Like loan EMIs. The last payment earns no interest.
  • Start of month (annuity due)₹18,41,656.75Like rent in advance. Every payment earns one extra month.

A small change in the rate makes a large change over many payments.

  • Paid in
  • Interest
  • 0% a year₹12,00,000.00
  • 6% a year₹16,38,793.47
  • 8% a year₹18,29,460.35
  • 10% a year₹20,48,449.79
Future value of the default payments at four interest rates

An annuity is a stream of equal payments. Single sums and income plans have their own tools.

For a single sum with deposits grown to a date, use the future value calculator; to discount future receipts, the present value calculator.

For a retirement income from a corpus, the pension calculator adds yearly increases, and the financial calculator solves for any one of five values.

Common mistakes

  • Mistake: Mixing start and end timing when comparing quotes.

    Instead: Match the timing to when payments are really made.

  • Mistake: Using a yearly rate with monthly payments unchanged.

    Instead: The rate is divided by 12 for monthly payments; the calculator does this for you.

  • Mistake: Reading present value as the total you will pay.

    Instead: Present value is the stream’s worth today, after discounting.

This calculator shows arithmetic on your assumptions. It does not recommend any product.

Read how we test our calculators, or browse more money calculators.

Frequently asked questions

What is an annuity in this calculator?

Any series of equal payments at regular intervals, such as monthly deposits, loan EMIs or rent. It is not an insurance product here.

What is the difference between an ordinary annuity and an annuity due?

In an ordinary annuity each payment is made at the end of its period. In an annuity due it is made at the start, so every payment earns one extra period of interest.

What does present value mean?

It is what the whole stream of future payments is worth today, after discounting each payment at the interest rate.

How is the rate applied?

The yearly rate is divided by the number of payments a year, and interest is compounded at the same frequency as the payments.

Does it include taxes or fees?

No. Tax on interest and any charges are not deducted, so the amount you keep may be lower.

Sources and methodology

The formulas are standard time-value-of-money results. We check every figure against golden values worked out independently, by closed form and by month-by-month simulation; see the methodology.

Written and maintained by Nitin Raturi, a software engineer (about the author). Last reviewed 27 Oct 2026; next review due by . Found an error? Tell us.

Changelog

  • : Initial release. Demand metrics remain unverified.

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