Calculation of the effective interest rate of the deposit calculator. How to calculate interest on a deposit - examples

The calculator will help you quickly “estimate” how much you can earn by placing a deposit in a bank.

Convenient calculator?

YesNo

How to calculate income on a deposit (deposit)

Enter the following information into the form:

• The amount of deposit that you are willing to make to the bank and the currency in which you place the funds;
• Placement period and date of contribution;
• Next, select the type of interest rate and the amount of interest that the bank charges on the deposit amount;
• Specify how often interest is accrued on the deposit. Most often this happens monthly, but there are also other offers from banks. The frequency of accrual is necessarily indicated in the terms of the deposit;
• Check the “Capitalization of Interest” checkbox if the interest on the deposit that is accrued by the bank during the deposit placement period is added to the deposit amount. If interest is transferred to a separate account or card, then there is no “Capitalization” of the deposit and the amount remains unchanged;
• In the “Tax” field, indicate whether you are a resident or non-resident of the Russian Federation or select “None”, which applies to 99% of calculations;
• Provide information if you periodically intend to replenish or withdraw some money from the deposit, as well as the amount of the minimum balance in case of withdrawal of funds from the deposit;

Resident of the Russian Federation- this is the one who is for last year lived in Russia for at least 183 days, the rest are non-residents. Russian citizenship has nothing to do with the concept of resident/non-resident.

What will the calculator show?

As a result, the calculator will calculate and display the data:

• The total amount of accrued funds on the deposit is the income from the placement;
• The size of the “Effective credit rate”. When “Capitalization” of the deposit, the size will be greater than the percentage you entered for placing the deposit, because funds that are credited to the deposit are taken into account;
• The amount on deposit at the end of the term. Actually this is the amount of the deposit plus the amount of interest;
• Schedule for calculating interest and increasing the deposit amount for the entire period of placement;
• If the interest rate on the deposit is such that you need to pay tax on income, then the calculator will automatically calculate the amount that will be withheld by the bank for taxes and show the Income on the deposit minus tax payments (details about taxes below).

Tax on placement of bank deposits

According to the legislation of the Russian Federation, taxes on earnings on bank deposits must be paid in two cases:

• You placed a foreign currency (any currency except the Russian ruble) deposit with an interest rate of more than 9% per annum;
• The interest on a deposit in Russian rubles on the date of opening the deposit is 5 percent or more higher than the key rate of the Central Bank;

Deposit tax rate and tax amount calculation

• The rate for residents of the Russian Federation is 35%;
• For non-residents - 30%;

The tax on deposits in rubles is not calculated on the entire amount of income on the deposit, but only on the difference between income with interest at the Central Bank rate + 5% and the actual rate offered by the bank.

The tax on deposits in foreign currency, similar to ruble deposits, is calculated not on the entire income on the deposit, but only on the difference between the “allowed” rate of 9% and the actual rate offered by the bank.

An example of calculating tax on a bank deposit

Just for general development, the calculator takes this into account!

As of July 1, 2018, the Central Bank Refinancing rate is 7.25%, therefore the tax will need to be paid on a ruble deposit at a rate of 7.25%+5%=12.25% and higher.

Initial data: We open a deposit of 1,000,000 rubles at 14% per annum for a period of 12 months;

• We calculate interest for 12 months: 1,000,000*0.14*12/12 = 140,000 ₽ - this is the total income on the deposit;
• We calculate the interest from the allowed rate (Central Bank + 5% = 12.25%): 1,000,000 * 0.1225 * 12/12 = 122,500 ₽ - this is tax-free income;
• Next, we calculate the amount on which tax must be paid: 140,000 - 122,500 = 17,500 rubles. This is the tax base from which we pay;
• As a result, we calculate the amount of tax (for residents of the Russian Federation 35%): 17,500 * 0.35 = 6,125 rubles. This amount must be given to the state.

I will note one thing: I have never, in any bank, seen rates so large that I had to even think about paying tax.

You can and should ask your questions in the comments.

The main purpose of a client who has savings coming to the bank is to save and increase cash. In order to choose the most profitable option from a wide range of offers from various organizations, you need to be able to independently calculate the future return on investment. Often, the options that at first glance seem the most profitable and interesting do not bring good results. Therefore, you need to be able to predict interest on a deposit before making a transaction.

To calculate the return on a deposit, simple and complex methods of calculating interest are used. Each of them has its own characteristics and pitfalls that are worth considering. Let's take a closer look at how to use formulas for calculating interest on deposits, what each component means, and use examples to calculate the effectiveness of each method.

Interest calculation formulas.

The profitability of almost any deposit can be calculated independently, knowing the calculation methodology. To do this, you need to know the parameters of the future investment, which include:

• Deposit amount.
• Rate (in %).
• Frequency of interest calculation.
• Deadline for placing money.

Simple interest formula.

It is used when the accrued income is added to the main body of the deposit at the end of its term or is not added and is withdrawn to a current account or plastic card. This calculation procedure is worth considering when placing a substantial amount for a long period. Typically, in this case, banks use placement options without capitalization, which reduces the overall benefit of the depositor.

Simple % formula:

The amount % is the income received after the i-th period of time.

P – initial investment volume.

t – investment period.

T – number of days in a year.

Let's consider an example: let's place 100,000 rubles for six months at 12%. Let's calculate the income received:

Thus, in six months it will be possible to withdraw 105,950.68 rubles from the account.

Compound interest formula.

It is used less frequently in bank deposit practice, but such offers can be found. For most depositors, they are not attractive due to the fact that the rates on them are lower than on products where income is accrued only upon expiration of the deposit agreement. The frequency of adding income can be different: once a month, once a week, once a quarter, every year. It implies capitalization or the calculation of “interest on interest”.

Formula for compound percentages:

P – initial deposit amount.

i – deposit annual rate.

k – the number of days in the period through which income is accrued.

T – number of days in a year.

n – number of income capitalizations during the entire deposit period.

Let's consider example No. 1: let's place 100,000 rubles at 12% per annum for six months with monthly capitalization.

Thus, thanks to monthly capitalization, the overall investment result turned out to be more profitable than in the option where interest is accrued at the end of the term.

Example No. 2: let’s place 100,000 rubles for 6 months at 12% per annum with weekly capitalization.

We will confirm the resulting value through calculations in Excel.

Example No. 3: let’s place 100,000 rubles for 1 year at 12% per annum with quarterly capitalization.

We will confirm the resulting value through calculations in Excel.

The online deposit calculator in Moscow allows you to study the profitability of different offers. In 2019 for individuals banks have developed many new programs.

The deposit calculator with capitalization in Moscow makes it possible to find out how much savings you will get if you invest a particular amount with the possibility of partial cash withdrawal.

Calculate your contribution using a calculator online in Moscow

The deposit interest calculator in Moscow is easy to use. The service allows you to enter information on terms, percentages, conditions and amounts an unlimited number of times. You can calculate your deposit online in Moscow online from banks:

• Sberbank;
• Alfa-Bank;
• Sovcombank;
• Post Bank and others.

A deposit calculator in Moscow is available on the official websites of banks. But unlike them, on our website you can use a deposit return calculator in Moscow for all available offers at once.

You can find a deposit by specifying:

• deadlines;
• amounts;
• rubles or currency.

You can calculate your deposit online in Moscow with capitalization, the possibility of replenishment or partial withdrawal. After entering the data, a table will open with Moscow banks that meet the requirements. The deposit return calculator in Moscow allows you to obtain information about the income received from the results of data processing.

Calculating a deposit using a calculator in Moscow reduces the time of searching for the desired option and allows you to find the maximum percentage, taking into account the required time frame for opening a deposit. Our website offers a deposit calculator with replenishment and capitalization in Moscow.

Good afternoon, dear friends! I think few people will be surprised by the fact that the most common and popular way to save and increase money today is bank deposits. This is not surprising, because this investment option accessible to everyone who has even small savings. In addition, in our country it provides for the return of interest and deposit amounts to depositors in the event of bank bankruptcy, provided that the amount in the account does not exceed 1,400,000 rubles. Unfortunately, many investors naively believe that the main indicator of the profitability of their deposit is the interest rate charged on the invested amount.

In reality this is not entirely true. To spend accurate forecast expected return on investment, you need to know how to calculate interest on a deposit, taking into account the features and properties of banking instruments. This is exactly what we will talk about today. Prepare calculators, pens and notepads, we begin our search for the best banking offer for our savings!

What is the interest rate and what does it depend on?

The interest rate on deposits is the most important indicator that tells us how profitable or unprofitable it is to keep money in a particular bank account.

Quite often in advertising brochures issued by banks, you can see attractive figures promising very, very high dividends on deposits. This is not surprising, because the main task of marketing is to capture, attract attention and arouse interest. Regardless of what you see in advertising, always double check the information that the bank provides you.

Don’t be lazy to check the accuracy of the data by calculating the amount of interest and checking it with that stated in the advertising brochure. Before you take your money to the bank, try to collect maximum quantity information and independently calculate the amount that will be accrued on your deposit as dividends in the bank of your choice for a specific contribution.

Interest calculators

If you trust the calculation of percentages to ready-made calculators, believing that they will do everything for you necessary work and show the real result, then you are mistaken. The whole point is that:

Criteria for evaluation

In order to choose a profitable one and at the same time, you need to evaluate row the most important indicators , and not just the interest rate and profitability of the deposit. That is why it makes sense to understand the process of comparing the predicted values ​​that we obtain as a result of calculations.

To begin with, let's determine that the deposit rate is a remuneration rate, expressed as a percentage, which you have the right to count on when placing your savings in the selected bank in the selected deposit. As a rule, banks calculate the rate in the form annual interest. I want to draw your attention to this point. After all, we don’t always put money in deposit accounts for the whole year. It is quite acceptable to open a deposit for 1, 3 or 6 months, or for a period of more than one year. In this case, we are interested in the size of the monthly remuneration for open deposit. To find out the profitability of a deposit opened for several months, we need to adjust the rate stated in the contract to the actual term of our deposit.

It’s not at all difficult to do this, and your school course algebra in which you studied percentages. We all know that 1 kopeck is one percent of the ruble. In turn, a ruble is one percent of one hundred rubles. In other words, one percent is the hundredth part of any number.

For example: 1% of an amount of 10,000 rubles is 100 rubles. It seems like nothing complicated, right? But how to calculate these amounts for time periods if the percentage is indicated for the year?

Annual percentage

It’s worth introducing a new term right away - annual interest, which we will use to refer to the amount of remuneration that the depositor will receive from the bank for keeping his money as a deposit for one year. If we translate this phrase into numeric value, it turns out that by opening a deposit in the amount of 10,000 rubles for a period of one year at 15% per annum, after the billing period we will receive not 10,000 rubles, but 11 500 .

But what to do if you have a bank non-standard condition for storing funds, which implies opening a deposit not for six months or a year, but, for example, for 370 or 395 days? Do you agree, this is a rather unusual calendar calculation? Most likely, such an offer is also accompanied by fairly high interest rates, which, when recalculated, will practically not differ from all other offers on the market.

Order a card with interest on your balance

Calculation

To double-check the veracity of my words, you need to find out how much income you will receive for one day of keeping money on deposit. Let's assume that our deposit is open for 370 days, and the reward amount from the previous example was 1,500 rubles. Based on these data, we find that one day of work of your contribution will bring you

1500: 365 = 4 rubles and 11 kopecks

Now we believe that we will get if we follow the lead of advertising

1500: 370 = 4 rubles and 5 kopecks

Thus, it turns out that 6 kopecks is just a marketing trick. Based on this, we can draw a completely logical conclusion: when opening a deposit, you need to pay attention not only to the promised dividends, but also on conditions.

What determines the interest rate?

To understand what the interest rate depends on, it should be noted that different types deposits have different offers , which are formed as follows.

Dependence on the key rate

Rates based on legislative support are regulated by the Central Bank Russian Federation. The size of these bets depends on what key rate offers the Central Bank to other banks, issuing loans to the latter. For example, from January 1, 2016, the refinancing rate corresponds to the key rate of the Central Bank of the Russian Federation. As of September 16, 2016, it is 10% per annum. You can see current rates on the official website of the Central Bank of the Russian Federation . You can inquire about the history of changes in the refinancing rate on this page .

Data from the Central Bank rates are a kind of indicator of the state of the economy and tell us about the level of inflation in the country. The bank's offer cannot exceed the rates of the Central Bank of Russia by 5 points. That is, if the Central Bank issues loans at 10%, then the bank cannot offer individuals more than 15%. If you do receive an offer with a higher rate, then get ready to pay the state income tax in size 35% of the amount exceeding this yield.

State money supply

I think everyone is financially educated person understands that a lack of money supply causes a shortage of money and leads to the fact that loans begin to become more expensive and deposit rates rise. If, for example, you know how to save money and open a bank account, while your neighbor Anatoly lives on credit, then the bank will offer you higher rates on the deposit, and Anatoly – on the loan.

Follow the news carefully and learn to analyze them correctly. If you hear that the Central Bank is planning to print money in order to issue more of it to banks, then we should all prepare for increased inflation and lower deposit rates. If the state carries out large-scale borrowing of funds on its domestic market, this means that the country is experiencing sterilization of the money supply or, in other words, a reduction in the money supply. As a result of such processes, we see an increase in deposit rates.

Macro- and microeconomic factors

When the economy is actively developing, enterprises actively take out loans for their development, expansion of production and improvement of material and technical equipment. Banks need to attract money from the public, and therefore offer their investors higher interest rates on deposits. If the economy is in recession, then the demand for money falls, and bank interest on deposits are decreasing.

As you can see, interest rates depend on a whole range of components: starting from the banks themselves and ending with the state of the state’s economy as a whole.

Types of interest rates on bank deposits

When opening a deposit in a bank, you have the opportunity to decide what you want to do with accrued dividends - withdraw them to a card or add them to the amount of the initial deposit, thereby capitalizing it. Depending on which option you choose, this will be the formula for calculating interest. If you remember school mathematics well, then you know that percentages can be simple and they can be complex.

How is simple interest calculated?

So, the simple deposit rate is calculated as follows:

Amount of accrued interest= (Initial deposit amount*annual % rate*% accrual period in days / number of days in a year) / 100

For ease of understanding, let's look at this example: you open a deposit in a bank in the amount of 50,000 rubles for 1 year with simple interest accrual. The % rate is 11.5%. Using the above formula, it turns out that a year after your deposit is closed, you will earn:

(50 000 * 11,5 * 365/365) / 100 = 5750 rubles

In this case, interest will not be added to the body of the deposit, but every month (once every six months or once a year) will be withdrawn to your other account. In this case, it is very profitable to use the monthly withdrawal of interest. If you do not have time to spend the funds earned on the deposit, % will be credited to your card.

How is compound interest calculated?

Calculation of compound interest on deposits is several more difficult and interesting. However, before we start studying it, I suggest you find out in what cases we are dealing with a complex bet.

When opening a deposit in a bank, you have the right to decide whether to add the interest received to it or withdraw it to another account. If you choose the first option, compound interest is charged on your deposit. That is, in each subsequent period, % is accrued by a large amount than in the previous one, thereby accelerating deposit growth.

This addition of deposit payments to the initial deposit amount is very important, since the amount of savings is growing faster and faster. Moreover, the growth model is not arithmetic progression, A exponent.

For comparison, let's take the calculation of simple and compound interest on the same deposit. We will conditionally deposit it into the account 100,000 rubles at 10% per annum. At the end of the billing period at the simple rate we will receive:

100 000 * 10 / 100 = 10,000 rubles;

Compound Interest Formula is presented below:

The variables mean the following,

S= total amount that the investor will receive
s= initial investment
P= % of the bank for 1 period. In our case, we deposit money for 1 year, but the interest is calculated every month and added to the principal amount of the deposit, therefore, our percentage for the period is: annual interest/number of interest periods= 10%/12 months= 0,833% (fixed return for 1 month)
d= period, the number of days for which you deposit money in the bank
D= quantity calendar days per year
n= number of months, years (periods) for which interest is calculated.

Let's calculate our example:

100 000 * (1+0,833*365 / 100*365)^12 = 10,466.92 rubles

Thus, the same deposit deposited in the bank for different conditions, can bring either 10,000 rubles of net profit or 10,466 rubles.

In the latter case, we are dealing with the capitalization of the deposit - adding accrued% to the body of the deposit. As a result, we get an increase in the initial investment amount and interest accrual on the increased amount.

In order not to manually calculate the return on your deposit, I advise you to use a compound interest calculator. In it you can indicate the amounts of regular additions for a certain period. You can find such a calculator on my website on the right side, in the sidebar, in the “ tab Profitability calculator».

How is the effective rate calculated?

Well, now let's look at the effective interest rate on a deposit in order to get a complete picture of banking offers in our heads.

The effective rate is usually called the rate that gives equal income on an identical deposit without capitalization of interest. That is, let's assume that you open an account in the amount of 50,000 for a year at 8% per annum with the condition of capitalization. We carry out the calculation using the formula we already know and get:

P = 8%/12= 0,6666% for the period

50 000 * (1+0,6666*365/100*365) 12 = 54,150 rubles.

Now let's look at the offer at the neighboring bank. Here you can open the same deposit, but without capitalization, but at 8.3% per annum. Such an offer will allow you to receive exactly the same income as in the case of capitalization.

(50 000 * 8,3 * 365/365) / 100 = 4,150 rubles.

54 150 / 50 000 = 1,083 or 8,3% .

This 8.3% is our effective annual deposit rate with monthly capitalization. That is, if a deposit without adding interest to the body of the deposit has a rate exceeding 8.3%, then such an investment will be more profitable for us than a deposit with 8% per annum and monthly capitalization. Do not forget that in the case of a deposit with 8.3% per annum, the monthly interest can be transferred to a debit card with accrual on the balance, in this case this deposit will be more profitable.

Insurance

All opened deposits are insured for the total amount 1,400,000 rubles in one bank. Here everything is taken into account along with the interest accrued on your amount. That is, if your deposit is more than 1,400,000 rubles, then it makes sense to split it into several smaller accounts. All received limits should be invested in different banks. It's even better if you calculate the total amount with future interest and make sure it's less than your limit. In this case, revoking the bank’s license will allow you to return both your down payment and the interest accrued on it. For example, if the bank where you opened a deposit account in the amount of 2,000,000 rubles goes bankrupt, the deposit insurance agency will return only 1,400,000 million to you, and the remaining 600,000 will be lost forever.

Interest

• If the interest on the deposit exceeds the refinancing rate of the Central Bank of the Russian Federation by 5% or more, the income of capital investors is taxed at 35% on the amount exceeding this limit;
• At the same interest rate capitalized deposits provide greater returns. This is worth considering when choosing a deposit.

Agreement

When making a deposit, keep the agreement with the bank, receipts for transferring money to the account, keep all statements of interest accrued to your account. This will allow you to protect your money from notebook deposits (not officially registered bank accounts). In large banks, it is very rare to stumble upon a bank deposit passing by the cash register. But better protect your money and keep the agreement and official documents about transferring money to the bank.

Commissions

If the bank has an incentive in the form of commission compensation when transferring money from an account in another bank to a deposit account, be sure to take advantage of it. Instead of withdrawing cash and taking it to the cash desk of the organization where you want to open a savings account, use a wire transfer.

Short-term deposits

If you need to deposit money for a period of 1-3-6 months, the most profitable option for you would be to transfer funds to a debit card with interest charged on the balance. This is due to the fact that for short investment periods, interest is accrued on average in the amount of 5-8% on the amount down payment, while on debit cards the accrual starts from 6% per annum on the balance.

I'll bring you your example: I use it, it charges the balance of money on the card in the amount 6% per annum provided that there is an amount of up to 300,000 rubles on the account. If the amount is larger, the accrual will be 4% per annum, this option does not suit us. That is, if you have more than 300,000 rubles on your card, simply divide this amount between 2-4 savings cards and calmly accumulate interest.

Apply for a Tinkoff debit card

The advantage of this option is that You can withdraw money any time you want. That is, there is no recalculation of interest, as is the case with bank deposits. You can find out more about debit cards with interest on the balance in my separate article.

Conclusions

By by and large, the choice of deposit directly depends on what tasks you set for yourself, what conditions interest you, and what goals are you pursuing?. If you decide to open a bank account, first analyze your specific situation, and do not go into the abstract. Remember that the choice should be made not only on the basis of the promised profitability, but also on bank reliability and deposit conditions.

Never trust the fate of your savings to bank employees. It is foolish to ask advice from people who are interested in selling a product recommended by bank policy, and not what will be most profitable for you. Any normal employee will try to push you something for which he will be rewarded with a coin, and not something that interests you.

I sincerely hope that this article will help you feel freer when choosing a tariff plan for your deposit and will not allow you to be a “black sheep” in communicating with a bank employee. Good luck with your investments, favorable conditions and up to see you soon! Don't forget to subscribe to blog updates to receive the latest articles in your email.

If you find an error in the text, please select a piece of text and click Ctrl+Enter. Thanks for helping my blog get better!

A banker is a merchant. He buys money interest on deposit at a low price and sells them loan interest at a higher. The resulting difference constitutes his income.

There are more people who want to borrow than those who want to deposit money at interest. Therefore, commercial banks can obtain loans from Central Bank of the Russian Federation Central Bank of the country. As of September 2016, under "key rate"
(aka “refinancing rate”) 11% per annum. It is logical to assume that commercial banks not very profitable to take contribution deposits with an interest rate above this value. An exception can be made only for VIP clients - owners of factories, newspapers, and ships.

For others, a high interest rate on the deposit may be marketing ploy, as it will be compensated through various commissions.

How to calculate the amount that the depositor will receive if interest is accrued at the end of the deposit period

Annual deposits

A person opened a deposit of 5,000 rubles at 9% per annum for 2 years:

for the year: 5000 rubles is 100% x rubles is 9% x=5000*9/100=450 rubles in two years: 450 rubles for 1 year x rubles for 2 years x=450*2/1=900 rubles 5900 rubles the investor will receive at the end of the term * What is 100? - “A percentage is a hundredth of a number.” Cm. .

Monthly deposits

A person opened a deposit of 5,000 rubles at 9% per annum for 3 months:

for the year: 5000*9/100=450 rubles in 90 days: 450 rubles for 365 days x rubles for 90 days x=450*90/365=110 rubles 96 kopecks 5110 rubles 96 kopecks the investor will receive at the end of the term * 365 is . IN leap year there will be 366 of them.

Deposit interest calculator

date	coming	amount on account
	5000	5000

* interest begins to accrue from the day following the day the money is received by the bank, that is, from (Article 839 of the Civil Code of the Russian Federation).

How to calculate the profitability of a replenished deposit with interest payment at the end of the term

The interest rate on replenished deposits is lower. This is explained by the fact that during the term of the deposit agreement the refinancing rate may decrease and the deposit will no longer be beneficial to the bank. That is, the bank will have to pay interest on the deposit higher than the interest that creditors will pay the bank.

Exception: if the deposit rate depends on the refinancing rate. In other words, the refinancing rate increases - the interest on the deposit increases, the refinancing rate decreases - the interest on the deposit decreases.

An example of calculating interest on a replenished deposit

A person opened a deposit of 5,000 rubles at 9% per annum for 3 months. A month later, he deposited another 3,000 rubles:

for the year: 5000*9/100=450 rubles in 30 days: 450*30/365=36,986 rubles balance after 30 days: 5000+3000=8000 rubles recalculation for the year: 8000*9/100=720 rubles for the remaining 60 days: 720*60/365=118.356 rubles Total interest: 36.986+118.356=155 rubles 34 kopecks The total amount that the investor will receive: 5000+3000+155.34=8155 rubles 34 kopecks

Deposit calculator with replenishment

			contribute
date	coming	consumption	amount on account
	5000	0	5000
		0

How to calculate interest on a deposit with capitalization. What is this: “deposit capitalization”

Interest may be paid:

1. total amount at [ ending | termination | on the day of signing] deposit agreements.
2. the total amount is divided into parts and paid monthly, annually. The client can choose the most suitable option for himself:
   • at the frequency specified in the agreement or less frequently, come to the bank and withdraw the amount of accrued interest or automatically transfer it to a plastic card. That is, “live on interest.”
   • capitalization of interest, also known as compound interest add accrued interest to the deposit balance. Just as if you came on the day of interest accrual, withdrew the amount of interest and replenished the deposit with it. The deposit balance increases and it turns out that interest is accrued on interest. Deposits with interest capitalization should be chosen by those who do not plan to withdraw the interest amount in installments. This advice does not apply to deposits where, under the terms of the agreement, partial withdrawal in the amount of capitalized interest is possible.

Formula for calculating deposit with capitalization

S = s × ⎛ ⎝ 1 + P×d 100×D⎞ ⎠ n S - the total amount that the investor will receive, s - the initial amount, P - the annual interest rate, d - the number of calendar days in the period, D - the number of days in the calendar year, n - the number of capitalizations

An example of calculating interest on a deposit with capitalization

On January 1, a person opened a deposit with a capitalization of 5,000 rubles at 9% per annum at 6 months 180 days. Interest is calculated and capitalized on the last day of each month.

5000 × (1 + 9/100 × 30/365)^3 × (1 + 9/100 × 28/365) × (1 + 9/100 × 31/365)^2 = 5000 × 1.02235634396 × 1, 00690410959 × 1.01534609946 = 5226.06 Refer to the table above:

• 30 days will be in three months: January, April, June.
• There can only be 28 days in one month - February.
• 31 days will be in March and May.

When calculating the number of days in a period, you must also take into account that if the last day of the period falls on a non-working day, the end of the period is considered to be the next working day (Article 193 of the Civil Code of the Russian Federation). Therefore, calculators posted on the Internet will be close to reality, but they do not provide 100% accuracy. How can you calculate income for 2 years when production calendar is it approved annually?

How to check the correctness of interest calculation on a deposit, accurate to the penny

The technology malfunctions. When you have an account statement, it is not so difficult to manually recalculate the interest due.

Example: On January 20, a person opened a deposit with capitalization once a quarter for 5,000 rubles at 9% per annum at 9 months 273 days. On March 10, I topped up my account with 30,000 rubles. On July 15, he withdrew 10,000 rubles. April 20, 2014 and July 20, 2014 fall on a Sunday.

20.01-10.03: 5000*9/100*49/365=60,41 10.03-21.04: 35000*9/100*42/365=362,47 20.01-21.04: 60,41+362,47=422,88 21.04-15.07: 35422,88*9/100*85/365=742,42 15.07-21.07: 25422,88*9/100*6/365=37,61 21.04-21.07: 742,42+37,61=780,03 21.07-20.10: 26202,91*9/100*91/365=587,95

Is interest on deposits taxable? What deposits are taxable?

I assume that there may be a question about taxes, why the corresponding calculator has not been made.

Let's turn to the law (Article 214.2 Tax Code RF): if at the time of conclusion or prolongation extension agreements up to 3 years, the interest on ruble deposits exceeds as of February 2014: 8.25% + 5% = 13.25% refinancing rate by 5 percentage points, That deposit rate minus 13.25% on interest income above this value A citizen of the Russian Federation needs to pay 35% tax. The bank must prepare the relevant documents.

In practice, no one sets a percentage higher than 13.25%: