Regular savings interest calculator
Savings & investing
Regular savings interest calculator
How much interest could monthly deposits earn?
Saving USD 200.00 each month for 12 months gives an estimated USD 2,465.00: USD 2,400.00 in deposits plus USD 65.00 in after-tax interest.
The first deposit earns interest for the full term; the last earns one month of interest. Your total deposits are not invested for the whole period. Actual payment dates and bank rounding may change the payout.
Use the same currency for all amounts. Taxes and fees are excluded unless an explicit field is provided.
See formula and assumptions
Equal deposits are made at the start of each month and held to maturity. Simple interest = monthly deposit × annual rate / 100 / 12 × months × (months + 1) / 2. Monthly compounding applies to each deposit for its remaining months. Tax is applied once to total interest at your entered rate, with no intermediate rounding. Actual dates, day counts and bank tax rounding can change the payout.
- Monthly deposit
- Enter the same amount you plan to deposit each month.
- Saving period (months)
- One year is 12 months; two years are 24 months.
- Annual interest rate
- Use the annual rate, not the monthly rate. Enter 5 for 5% a year.
- Interest method
- Choose simple interest unless your product explicitly compounds monthly.
- Tax rate on interest
- Enter your effective tax rate on interest. The default 0% is an example, not a tax exemption. No country-specific tax rules are applied automatically.