Fixed Deposit Interest Calculator

Fixed Deposit Interest Calculator

Best Fixed Deposit Interest Calculator Singapore

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How to calculate fixed deposit interest ?


Fixed Deposit Account or Time Deposit Account  is some  what similar to a normal Saving Account . It provide  the saver  a guarantee Fixed Interest Rate Return associated to a Contracture Tenor Period.

Tenor Period normally range between  1 week to 60 months. After the Tenor Mature , the saver will get both the guaranteed principal  deposited and guaranteed Fixed Interest Rate Return .

The Only Difference between a Fixed Deposit & a Normal Saving account is. If the Saver withdraw Funds from the Fixed Deposit Account before maturity . Penalty will be imposed.



Fixed Deposit Interest Calculation :

The Formulae use for Fixed deposit calculation is :


R= Return on Interest

P= Principal

r=Interest Per Annum

T= Tenor ( Months or Years)

Example :

You are placing S$20,000

For  8 Months

With an annual Interest Rate of  : 1.2%

Return of Interest  = [S$20,000  X ( 8 /12  months ) X 1.2%]/ 100

Return Of Interest = S$160