Deposit Interest Calculator - interest-calculators.com

Is Monthly Saving Worthwhile?

Saving money in a bank account is beneficial, but there are better alternatives such as stocks or mutual funds. Banks also recommend regular savings directly into funds so that the compound interest phenomenon occurs. In other words, the initial amount you invest plus the monthly added sum accrue compound interest, significantly increasing your original investment amount in the long run. Keeping your money idle in a bank account is not a good way to store large sums because this amount does not earn any interest. Additionally, it's important to note that in a bank, your money is protected only up to €100,000 through the deposit protection. If the bank fails and you have more than €100,000 in your account, you will lose the excess amount.

Use our savings calculator to quickly calculate how much you can save each month. Saving is always a good idea, but letting your money sit in a bank account is not a profitable solution because the interest paid on the account is lower than the returns from stocks.

What Does Deposit Interest Rate Mean?

Deposit interest rate is the interest that grows the original amount annually. Banks do not directly offer deposit interest rates on regular bank accounts; you need to invest in funds managed by the bank to enjoy this interest rate. Our deposit interest rate calculator automatically calculates the deposit interest rate and the amount you save for you. Please note that our calculator does not factor in taxes or fees associated with investing; you need to take care of these yourself.

The deposit interest rate calculator is very easy to use. You need to input the Initial Amount in our calculator. If the initial amount is 0, you can enter it into our deposit interest rate calculator. Additionally, you should input the monthly savings amount, assumed interest rate, and the savings period in years. After that, our calculator will automatically calculate the result for you. Please be aware that the information you enter into the calculator is not stored anywhere, and using our deposit interest rate calculator is safe and easy.