What does this tool do?
Savings interest depends on the annual rate, the term and how often interest is compounded. This calculator projects a balance with no further deposits.
The Formula
Interest = P × ((1 + r ÷ n)^(n × t) − 1)Frequently Asked Questions
What is effective annual yield?
It converts a nominal rate with any compounding frequency into the equivalent annual return. It makes offers with different compounding easier to compare.
Is my money protected?
Deposit insurance varies by country and institution. Check the scheme and limit that apply to you; this tool does not assess provider safety.