Savings Calculator
Enter your monthly deposit, interest rate and term to calculate the maturity amount, using simple interest.
A reference estimate; actual product terms may differ.
How to use the Savings Calculator
- Enter what you pay in each month in Monthly deposit, as a plain number.
- Fill in Annual rate (%) and how many months the plan runs in Term (months).
- Press Calculate for the principal, the after-tax interest and the maturity total.
Why the interest is roughly half of what the rate suggests
Each instalment earns interest only for the months it is actually held, so the first payment earns a full term and the last earns one month. Added up, that comes to close to half of what the same total would earn as a lump sum from day one.
The 15.4 percent comes off before the figure is shown
The result keeps 84.6 percent of the interest, matching the rate normally withheld on interest income in Korea, and no field changes it. Paying 300,000 a month at 3.5 percent for 12 months gives a principal of 3,600,000 and a maturity near 3,657,740.
Frequently asked questions
Is this simple or compound interest?
Simple interest, which is the standard for regular savings plans where you deposit a fixed amount each month.
Is tax deducted?
The result is approximated after a 15.4 percent tax on interest income. Rates differ by country, so adjust for your own jurisdiction.
Does the last month's deposit earn anything?
Yes, one month of interest. Every instalment counts, but each is credited only for the time left in the term, which is what keeps the total down.
Why is my maturity lower than deposit times rate times years?
Because that sum assumes the full amount sat there the whole time. Here the balance builds month by month, and tax then takes 15.4 percent of the interest.