Deposit calculator — is a tool that helps you quickly calculate interest on deposits. Having a simple appearance, you will be able to accurately find out how much you can earn on the Deposit. Given how often the Central Bank changed the key rate, you should always keep your finger on the pulse. Add the calculator to your bookmarks so you can always quickly find out about your potential income.
Help with a simple Deposit calculator
Using a simple Deposit calculator will help you quickly and accurately determine the return on your investment. To use this calculator, you will need the following information:
The initial amount is the initial amount of your investment, or the amount you can initially Deposit into the account. Of course, the potential income depends on the amount of your investment, that is, there is a difference if you open a Deposit of $ 100 or $ 10,000. The higher the amount, the more pleasant the result.
Monthly Deposit is the amount you can Deposit each month to increase the gain to the result. Decide on this amount according to your monthly budget. For example, it is often recommended to save 10 percent of the salary. Try specifying different amounts to see how this can increase your investment growth over time.
The annual percentage is the percentage at which you lend to your Bank. That is the percentage that the Bank shows you when you open a Deposit. Sometimes it happens that banks do not charge interest annually (the most common case), but quarterly or even monthly. Often benefit from this a little, especially if the initial amount is low.
The number of years is the time for which you want to leave your money at a Bank interest. Of course, the longer this period, the better. Banks love when customers look to the future and for this they give a higher percentage of the Deposit. Sometimes the difference between the percentages is 1-3 percent. At first glance, the figure is small, but imagine how it will affect the final yield when the Deposit period will be for example 10 years.