$10,000 at 4% for 365 days
10000 × 0.04 × (365 ÷ 365) = $400 in gross interest for a full year.
Deposit interest calculator
Estimate gross simple interest from principal, annual rate and term.
Calculation details
Change the values to update the result instantly.
How it works
Estimate gross simple interest from principal, annual rate and term. This free estimate is for planning purposes. Verify financial and tax decisions with a qualified professional.
How gross deposit interest is estimated
The calculator uses simple interest prorated by days: interest = principal × annual rate ÷ 100 × (days ÷ 365).
Shorter terms
For a 90-day deposit, the same principal and rate would give 10000 × 0.04 × (90 ÷ 365) ≈ $98.63.
Gross versus net
This is the gross amount before any withholding tax is deducted, since the calculator does not apply a tax rate.
Frequently asked questions
How is deposit interest calculated for a period shorter than a year?
The annual rate is prorated by days: interest = principal × rate ÷ 100 × (days ÷ 365).
Is this the amount I actually receive?
This is the gross interest before any withholding tax, since the calculator does not apply a tax deduction.
What does the deposit interest calculator calculate?
Estimate gross simple interest from principal, annual rate and term.
Is this calculator free to use?
Yes. You can change the values and calculate as often as you need without creating an account.
How accurate is the result?
The result is an estimate based on the values you enter. Rates, fees, taxes and personal circumstances can change the final amount.