Savings Calculator
Plan your future wealth with regular savings
Savings typeChoose a savings type. Fixed means the monthly amount is constant.
Interest calculationSimple: interest only on principal; compound: interest on principal and interest.
How to use the savings calculator
Enter monthly deposit
Enter the amount you will save each month.
Set annual interest rate
Enter the annual rate for the savings product in percent (%).
Set savings term
Enter the savings term in months.
Choose savings type
Select fixed (same amount each month) or flexible (variable amount).
Set tax
Enter the interest‑income tax rate. The default is 15.4%.
Calculate
Click “Calculate” to see the result.
Savings examples
Here are sample scenarios demonstrating the effect of regular saving:
| Monthly deposit | Term | Annual rate | Total deposits | Total interest | After‑tax maturity value |
|---|---|---|---|---|---|
| $3,000 | 12 months | 3.5% | $36,000 | $583 | $36,583 |
| $5,000 | 24 months | 4% | $120,000 | $4,323 | $124,323 |
| $10,000 | 36 months | 4.5% | $360,000 | $21,932 | $381,932 |
※ These examples assume a fixed deposit plan with 15.4 % interest‑income tax. Actual products may differ.
Frequently Asked Questions
What’s the difference between fixed and flexible deposits?
Fixed deposits use the same amount every month, while flexible deposits let you vary the amount. For simplicity, this calculator assumes the same amount even for flexible deposits.
How is interest calculated?
Interest is calculated for each monthly deposit. For example, the first deposit earns interest for the full term, while the last earns interest for only a short time.
How is interest‑income tax applied?
Interest‑income tax is applied to the interest earned (typically 15.4 % in many jurisdictions). Tax‑free or tax‑advantaged products may use different rates.
How is the maturity value calculated?
Maturity value = total deposits + after‑tax interest (interest minus tax).