Calculate pre-tax and after-tax interest using simple or compound interest.
A fixed deposit is a lump-sum amount placed in an account for a set term, earning interest until maturity. Because the principal stays constant, interest calculation is straightforward.
A recurring savings account accepts regular monthly contributions. The first month's contribution earns interest for the full term, while the last month's contribution earns only one month of interest. At the same rate, the effective yield is lower than a fixed deposit.
Simple interest is calculated only on the principal. It is straightforward and used by most standard deposit products.
Compound interest adds interest back to the principal so that subsequent interest is earned on a growing balance. The longer the term, the greater the advantage over simple interest. This calculator uses monthly compounding.
Standard (20%) is a typical withholding tax rate applied to interest income in many countries. Tax-Free (0%) applies to certain government-backed or incentive savings schemes where interest is exempt from tax. Reduced (10%) represents a lower rate that may apply to certain accounts or account holders.
(Note: Tax rates vary by country and may change. Please verify the applicable rate with your financial institution.)
Calculate pre-tax and after-tax interest for deposits and savings accounts. Choose simple or compound interest and tax options.
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