Compound interest is your best friend
In first look, the amount of interest may look miniscule. But the good thing is that it grows over time. Even more, it can add up very quickly – thanks to compound interest. It is simply, the interest earned on interest.
Say you have Rs 100,000 in your bank account earning 6 per cent interest. After five years you'll get Rs 134,000 with interest being Rs 34,000. Similarly, the same amount will be Rs 181,940 after a span of 10 years. Quite handsome money indeed! Remember, the longer your money can remain uninterrupted, the bigger your fortune can grow.