How it is calculated
Each month, one twelfth of the annual rate is applied to the balance then. With monthly compounding, that interest joins the deposit at once. With compounding at the end of the term, interest is stored aside and added a single time.
Tax on deposit interest depends on the key rate, and it is not taken off here. That rate changes, and the calculator does not fetch it from the central bank.
With monthly compounding: S × (1 + rate / 12)^months
Where the numbers come from
- Deposit amount
- A top-up every month
- Rate — unit in the field: % per year
- Term — unit in the field: years
- Compounding
Example
100 000 currency units at 10%, compounded monthly for one year with no extra deposits, become about 110 471 currency units.
Questions
Does the top-up earn interest in the same month?
No. It is added after the credit is posted, and it starts to earn from the following month.
What is the effective yield on the screen?
This is the interest over the whole term, restated per year against the starting sum. Top-ups are not in the denominator, so regular payments push the figure above the stated rate.
Can I calculate a deposit with no compounding?
Yes, the “At the end of the term” mode. Interest is not added along the way.