Track savings interest earned

Step 1

Track interest deposits on savings

1. Dashboard > Interest Balances > Savings
2. Separate sample balance: INR 30,000
3. Interest growth is not a new bank deposit

For an interest deposit, Pennie tracks calculated interest earned on savings.

Open Dashboard, Interest Balances, then Savings.

Our separate example starts at thirty thousand rupees.

A calculated balance does not confirm that a bank deposited money.

Step 2

Add a savings category

1. Select the Categories tab
2. Tap Add category
3. Complete any offered custom-category unlock

Select the Categories tab and tap Add category.

Complete any offered custom-category unlock.

Keep each savings agreement in its own category so its dates and interest terms stay clear.

Step 3

Choose Savings as the category purpose

1. Name: Sample Savings
2. Category purpose: Savings
3. Use real terms, not a promised return

Name this category Sample Savings and choose Savings as its purpose.

Use your actual agreement when setting it up.

Our amounts and dates are teaching examples, not recommended investments or guaranteed returns.

Step 4

Choose Interest growth, not a contribution plan

1. Select Interest growth
2. This is the savings interest-deposit mode
3. A monthly goal contribution is a different plan

Choose Interest growth, the savings version of interest-deposit mode.

It enables the interest calculation fields.

A goal contribution plan is different: planning to save every month does not mean the deposit happened.

Step 5

Use an annual rate and the correct cadence

1. Accrual cadence: Monthly; interest type: Simple
2. Starting principal: INR 30,000
3. Annual interest rate: 4%

Select Monthly and Simple.

Enter thirty thousand as starting principal and four as the annual percentage.

Monthly controls posting frequency; it does not mean four percent each month.

Select compound only when those are your actual terms.

Step 6

Check the tracking period and save

1. Sample tenure: 12 months
2. Tracking start: 1 September 2026
3. Review, then tap Save

Our example runs for twelve months from the first of September, twenty twenty-six.

Review and save.

Starting principal supports the opening when no opening balance or initial funding already exists.

Record later deposits and withdrawals with their actual dates.

Step 7

Read interest earned and the new balance

1. Completed September interest: INR 100
2. Tracked savings becomes INR 30,100
3. Recent banner shows interest earned

With no movements during completed September, thirty thousand times four percent divided by twelve earns one hundred rupees in this model.

The tracked balance becomes thirty thousand one hundred.

The recent banner reports when interest records were posted, not a bank-confirmed deposit.

Step 8

Avoid confusing interest with income or deposits

1. Automatic interest is excluded from monthly net
2. Do not record the same interest twice
3. Check actual deposits against your statement

Automatic interest is excluded from Dashboard's monthly income and expense totals.

Do not enter the same interest twice just to make those cards change.

Check statements separately; bank results can differ.

This local tracking neither moves money nor guarantees a return.