Savings Interest
Savings account interest calculator with multi-bank comparison
Calculate interest earned on a fixed savings account balance.
Interest Credit
Most banks credit savings interest quarterly on the minimum balance between the 10th and last day of the month.
Final Balance
₹6,10,095
Total Deposits
₹5,00,000
Total Interest
₹1,10,095
Avg Monthly Interest
₹1,835
Effective Yield
4.06%
Year-by-Year Breakdown
| Period | Total Deposited | Year Interest | Cum. Interest | Balance |
|---|---|---|---|---|
| Year 1 | ₹5,00,000 | ₹20,302 | ₹20,302 | ₹5,20,302 |
| Year 2 | ₹5,00,000 | ₹21,126 | ₹41,428 | ₹5,41,428 |
| Year 3 | ₹5,00,000 | ₹21,984 | ₹63,413 | ₹5,63,413 |
| Year 4 | ₹5,00,000 | ₹22,877 | ₹86,289 | ₹5,86,289 |
| Year 5 | ₹5,00,000 | ₹23,806 | ₹1,10,095 | ₹6,10,095 |
Avg Annual Interest
₹22,019
TDS Status
Not Applicable
Threshold: ₹40,000/year
Post-Tax Interest
₹1,10,095
Savings account interest up to ₹10,000/year is tax-free under Section 80TTA. Senior citizens get ₹50,000 under 80TTB.
₹5K Interest
Year 1 • ₹20,302
₹10K Interest
Year 1 • ₹20,302
₹25K Interest
Year 2 • ₹41,428
₹50K Interest
Year 3 • ₹63,413
₹1L Interest
Year 5 • ₹1,10,095
Final Balance
₹6,10,095
Total Interest
₹1,10,095
Multiplier
1.22×
Interest Rate
4% p.a.
Period
5 years
Avg Monthly
₹1,835
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