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Savings interest rate calculation

If the goal is to get people to put money into savings, I think providing calculations in key areas (might be especially compelling if they're using actual account data) to show what the yearly interest earning would be if member transferred suggested amounts/percentages into a savings account.

 

Example:

I'm on the account summar page and I see an info icon beside my YTD Interest amounts. If I click or hover on the icon I see a message that says "If you transfer [amount] to Savings you'll earn [amount] in 1 year, in addition to the [amount] you'll currently earn." (or another time span if that is more compelling) with a button that can cue up that transfer for me.

 

On the transfer page I can see that same projection calculation near the form and if I change the transfer amount, I see the calculation update in real time so I can make the best decision of what amount to actually transfer.

1 Comment
Community Manager
Status changed to: Check out this idea!

Thanks for your idea @hobyvh, this is an interesting concept. What banks or credit unions have you seen offer this type of tool?