Savings & Compound Interest Calculator
Work out the maturity amount of monthly savings with simple or monthly compound interest, 15.4% interest tax, and the monthly amount needed for a goal.
Savings maturity amount and interest tax
Work out the maturity amount of monthly deposits with simple or monthly compound interest, and the amount needed to reach a goal.
Simple vs. compound
Most bank savings products use simple interest, where each deposit earns interest only for the months it is held. Monthly compounding also earns interest on interest, so it comes out slightly higher.
15.4% interest tax
Interest is subject to 15.4% withholding: 14% income tax plus 1.4% local tax. Choose pre-tax to see the amount before tax.
Working backwards from a goal
Enter a target amount to see how much you need to deposit each month, assuming monthly compounding. Tax is not included in that figure.
Frequently asked questions
- Will it match my bank's savings interest exactly?
- Products can use different interest methods and bonus rates. Check the product terms before you sign up.
- What happens if I cancel early?
- The calculator assumes you keep the savings until maturity. Early cancellation often earns a lower rate.