Deposit calculator
This free deposit calculator works out the interest you'll earn on a bank deposit and the final amount at the end of the term. Enter the deposit amount, the annual interest rate and the term in months, and the calculator shows the result with monthly compounding.
How the calculation works
The monthly-compounding formula is final = amount × (1 + annual rate / 12)^months. The interest is the difference between the final and starting amounts. Compounding means the interest earned each month is added to the balance, and the next month's interest is calculated on that larger balance (compound interest).
Worked example
For 10,000 at 10% per year over 12 months, the final amount is about 11,047 and the interest ~1,047. Actual returns depend on taxes and the bank's terms.
Frequently asked questions
What is compounding?
Adding earned interest to the balance so later interest is calculated on a larger amount.
How accurate is the result?
It's an estimate; taxes and special bank terms aren't included.
What unit is the term?
Months. For a one-year deposit enter 12.
Is the tool free?
Yes — completely free.