Savings Account Interest Calculator
Estimate savings-account interest from balance, annual interest rate and number of days.
What this calculator does
Estimate interest on an unchanged savings balance. Banks may calculate interest on daily closing balances and credit it periodically; actual results depend on balance movements and bank rules.
How to use it
- Enter balance
- annual rate
- number of days
- review estimated interest.
Formula and calculation method
Worked example
Important information
Banks may credit interest quarterly or at another interval. Tax treatment is not included; check account terms and current tax rules.
Frequently asked questions
How accurate is this calculator?
It provides an estimate based on the values and assumptions entered. Verify important decisions with the relevant provider or a qualified professional.
Does this replace professional advice?
No. It is an informational tool and does not replace tax, legal, accounting, lending, investment or medical advice.
Example: estimating savings-account interest
Interest depends on the balance maintained over the bank's calculation period, the applicable annual rate and the number of days. If the balance changes during a month, a calculation based only on the opening or closing balance may not match the bank's actual credit.
Why your bank statement may differ
Banks may calculate interest on daily closing balances and credit it at a stated interval. Rate tiers, minimum-balance rules, product changes, taxes and rounding can also affect the credited amount. Check the bank's current schedule of charges and interest terms for an exact account-specific figure. This calculator provides an estimate only.
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Browse all calculators AboutResults are estimates based on entered values and assumptions. They are not professional advice. Verify important decisions with the relevant provider or a qualified professional.