What is a deposit calculator?
The deposit calculator can help you calculate the amount of the deposit amount and the interest received on the deposit for any period in the proposed banks.
Why is it needed, how can I use it?
With the help of a deposit calculator, you can calculate the income received from placing a deposit at a bank for a different term and interest payment conditions. We recommend setting conditions in the calculator that are close to the current market conditions.
Basic parameters and their meaning, instructions for working with the calculator
The online deposit calculator supports all the methods of interest calculation offered by banks, both widespread - annual, quarterly, monthly interest calculation, and rare - daily, weekly or semi-annual interest calculation.
The sequence of actions for calculating profits:
- Decide on the amount and type of currency in which the deposit will be realized. Enter this metric in the special field.
- Indicate the time period for which the deposit will exist.
- If you need to specify additional parameters, you can use the additional menu with filters (monthly replenishment size, interest payment method, etc.)
After that, just click the calculation button and get the result.
To calculate the interest on the deposit:
Simple formula = (deposit amount * deposit period): number of days in a year * 100
Thus, for a deposit in the amount of 50 thousand hryvnias at an interest rate of 12% for a period of 12 months, when calculated according to the formula, for 60 days the profit will be 9 thousand hryvnias.