Savings accounts, CDs and fixed deposits, worked out at the rate your own bank pays
Everything here runs in your browser. Files are never uploaded.Money you might need is a different problem from money you are investing, and it has its own arithmetic. A savings account pays a rate that moves; a certificate of deposit or a fixed deposit locks a rate in and charges you for changing your mind. These four work out what each one becomes, using the rate on the offer in front of you, because no honest page can publish a savings rate that will still be right next month.
Savings Calculator projects a balance and a monthly habit forward month by month at the APY your own account pays, with an optional goal, tax rate and inflation figure. Its most useful number is not the total: it is the month at which the interest paid exceeds the amount you pay in, which is when the account starts doing more of the work than you do.
A high-yield savings account is an ordinary savings account at a bank with no branches to fund. The whole difference is the rate, so comparing two of them means putting each APY in and looking at the balance.
CD Calculator does a certificate of deposit: the maturity value, and what breaking the term early would cost. That second half matters more than people expect, because an American bank's early withdrawal penalty is a number of months of interest charged whether or not that much interest has been earned. Break a five-year CD in its first month with a six-month penalty and you get back less than you put in.
FD Calculator is the Indian equivalent, and handles both shapes: left to compound to maturity, or paying the interest out monthly or quarterly for somebody living on it. RD Calculator covers a recurring deposit, with the quarterly compounding Indian banks actually use rather than the monthly compounding that makes the number look better.
Interest Calculator does simple or compound interest on any sum at any rate, for a loan between family, a deposit with a cooperative, or a figure somebody quoted you that you want to check.
APY and the interest rate are not the same number. An APY already includes compounding: 1,000 at 5% APY is 1,050 after a year, whatever the frequency. A nominal rate is the figure before compounding, and 5% compounded daily produces an APY of 5.13%. Every calculator here asks which one you have, because compounding an advertised APY a second time makes the worse account look better by about 0.13% on a one-year balance, and that is exactly the sort of quietly wrong figure that leads somebody to the wrong bank.
No rate is published on any of these pages. Estimates only, not financial advice.
Savings if there is any chance of needing it, because a CD charges a penalty in months of interest to break. A CD or fixed deposit if the date it is needed is known, since locking the rate protects against cuts. Run both and compare the difference against the penalty.
Annual percentage yield: the return over a year with compounding already included. That makes it the fair way to compare two banks, because one quoting 4.9% compounded daily and another quoting 5% compounded yearly are paying almost the same thing.
Both, by tool. The CD and savings calculators use dollars and American conventions; the FD and RD calculators use rupees and the compounding Indian banks apply. The interest calculator is neutral and works for either.
Because rates follow the central bank, change without notice and differ by bank and balance tier. A figure published here would be stale within weeks and wrong for your own bank on the day you read it, so every calculator asks for the rate you were offered.
Yes, as ordinary income in the year it is credited, in both countries. Each calculator takes your marginal rate and shows the after-tax figure. The tax is due as the interest is credited, not when the money is withdrawn, which surprises people with multi-year deposits.
No. Every calculator here runs in your browser, so balances, rates and goals are never uploaded and nothing is kept after the page is closed.