Cumulative calculator. Deposit calculator - calculate income on deposits

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Bank deposits are the most popular product on the market. In this article we will look at one of the frequently asked questions among ordinary people: "how to calculate interest on a deposit?"

There are several options for calculating interest on deposits. Let's look at each of them with examples.

1. Simple interest (time deposit)

Most often, bank deposits are of the “time” type. This type deposit is the most popular among the population due to the highest percentage.

However, for such generosity from the bank, customers must sacrifice the following:

• There is no possibility to withdraw funds partially
• No replenishment
• Interest is accrued once at the end of the term (without capitalization)

Example 1. Term 1 year, rate 8% per annum

The deposit has a rate of 8% per annum, without replenishment, and is opened for a period of 1 year. In this case, the interest on the deposit can be calculated using any calculator by multiplying starting amount multiply by a factor of 0.08 (8%).

Interest = Amount x 0.08

For example, if the amount was 200 thousand rubles, then the interest for the year will be 16 thousand rubles, and the total amount will be 216 thousand rubles.

Naturally, depending on the deposit rate, you need to multiply by different numbers.

Example 2. Term six months, rate 9% per annum

A little more complex example. Now the term is six months with an interest rate of 9% per annum. Most likely, the bank deposit agreement will indicate the number 181 days, which is a little less than six months. Therefore, it will be necessary to calculate the percentage taking this nuance into account.

Interest = Amount x 181/365 x 0.09 = Amount x 0.04463

If our amount was 95 thousand rubles, then in 181 days the interest on the deposit will be 4239.86 rubles.

This formula uses a ratio of 181/365, since our contribution will only remain for 181 days out of 365 days. In a similar way, you can calculate interest on a deposit for any period.

Example 3. Term 145 days, rate 8.7% per annum

Many banks allow you to open a deposit not only for exact periods by month, but also by day. This, for example, can be done at Sberbank and Finam Bank. This is convenient for clients.

In our example, we open a deposit for 145 days at an interest rate of 8.7% per annum.

Interest = Amount x 145/365 x 0.087 = Amount x 0.0345

Instead of 145 days and a rate of 8.7%, you need to substitute your values.

2. Deposits with capitalization (managed deposits)

Capitalized deposits have slightly lower interest rates. This is due to the fact that the interest accrued per month is transferred to the deposit and thereby the amount grows. There is such a thing as the “effective interest rate”.

Effective interest rate- this is factual annual interest, which will be earned on the deposit. It will be greater than the original bet. In this case, the calculation takes place using so-called “compound interest”.

This concept only applies to deposits with capitalization.

For example, they deposited 100 thousand rubles at 12% per annum with monthly capitalization. In one month, the deposit will have an amount of 101 thousand rubles and it will already be at 12% per annum.

After 2 months, the amount on the deposit will already be 102.01 thousand rubles (instead of 102 thousand rubles). Because interest will also be charged on the 1000 rubles earned in the first month.

To calculate compound interest, it is best to use online calculators, since calculating them on a piece of paper will be problematic. It's not that difficult though.

For our example, you just need to multiply 100 by (1.01) 12. Simply put, multiply 1.01 by itself twelve times.

3. Tax on income from deposit

There is no tax on income from the deposit. However, under certain conditions, there may still be a tax. These are the two conditions

1. By 5 basis points
2. On foreign currency deposits over 9% per annum

If one of two conditions is met, then tax is taken on this excess income. The tax rate is 35% for residents of the Russian Federation and 30% for non-residents.

For example, if key rate The Central Bank rate is 8%, and the bank deposit is 15%, then the excess is 2% (8% + 5% = 13% - the maximum possible rate without tax). Tax on income from this 2% will be taken.

4. Online interest calculator

On the Internet you can find many sites that offer to calculate interest on deposits. In each of them you need to set the following parameters:

• Amount (this is understandable)
• Percent
• Deadlines
• Capitalization (if interest is accrued monthly, then check the box)
• Amount of additional contributions

After this, the calculator will provide a detailed account statement, which will allow you to forecast your budget in advance.

Balance statement:

Related posts:

Bank deposits are the most common way to save and increase own funds. Most of the population keeps theirs in banks. And this is not surprising, since it also makes deposits the safest way to store capital.

For many, the interest rate on a deposit is an indicator of the profitability of the deposit. Is it so? No, you still need to take into account the properties bank deposits, such as the presence of interest capitalization, its frequency, the possibility of replenishment, as well as withdrawal of part of the deposit. However, in order to predict the expected return on a deposit, you need to be able to calculate these same percentages.

My experience working in a bank showed that people do not know how to do this. The quality of service in banks often leaves much to be desired. Many managers themselves do not know how to calculate interest on deposits. Therefore, it is important to be able to independently calculate the profitability of a deposit, taking into account both the interest rate and the properties of the deposit.

We will take an example for calculation from the article

There we considered the amount of 100,000 rubles placed for a period of 12 months. We had three different ones that differed (accrual of interest for a certain period on the initially invested amount):

1. Capitalization of interest at the end of the term

1. For calculation simple interest
2. To calculate compound interest.

Simple interest formula

Simple interest– this is when interest on the deposit is accrued at the end of the term. For example, a deposit is opened for a year, with interest paid at the end of the deposit term, which means this formula will be applied.

Calculation of simple interest.
S = (P x I x t / K) / 100
I– annual interest rate
t– number of days of accrual of interest on the attracted deposit
K
P– the initial amount of funds attracted to the deposit
S– the amount of accrued interest.

Compound interest formula

Compound interest– this is when, during the deposit term, interest is capitalized within the deposit term (monthly, quarterly). For example, a deposit is open for a year. If interest capitalization occurs during the year, then the formula for calculating compound interest will be used.

Calculation of compound interest.
S = (P x I x j / K) / 100
I– annual interest rate
j– the number of calendar days in the period following which the bank capitalizes accrued interest
TO– number of days in a calendar year (365 or 366)
P – Initial amount funds attracted to the deposit, as well as the subsequent amount taking into account the capitalization of interest
S– the amount of funds due for return equal to the original amount of funds raised plus accrued capitalized interest.

Example one – Interest capitalization monthly

Interest capitalization monthly

In this case, we apply the compound interest formula, since interest capitalization occurs monthly.

Jan: S=(100,000 x 14 x 31 / 365) / 100
S=1189.04 rub.

Next, we add the resulting interest in the amount of 1,189.04 rubles to our initial deposit of 100,000 rubles. We receive 101,189.04 rubles. This is what monthly capitalization looks like. Then we calculate February in the same way, not forgetting that February has 28 or 29 days.

Feb: S=(101 189.04 x 14 x 28 / 365) / 100
S=1086.74 rub.(the amount turned out to be less, since there were fewer days in February than in previous month). We add the received interest 1086.74 to 101189.04 = 102275.78 rubles. And so on, adding the interest received to previous amount and we calculate the new month taking into account the initial deposit and all accumulated interest.

Example two - Interest capitalization quarterly

Interest capitalization quarterly

Interest capitalization is quarterly. We apply the compound interest formula. We proceed by analogy with the first example. But I would like to draw your attention to a fairly common error in calculations. Many people, when calculating quarterly capitalization, substitute j into the formula - the wrong number of days. It is necessary to set not 30 or 31 days, according to the number of days in a month, but the number of days for the total calendar period. To do this, we summarize the number of days for 3 months of each quarter.

• In the first quarter it will be 90 or 91 days, depending on how many days there are in February, for example: January (31 days) + February (28 days) + March (31 days) = 90 days.
• In the second quarter it will be 91 days: April (30 days) + May (31 days) + June (30 days) = 91 days.
• In the third quarter it will be 92 days: July (31 days) + August (31 days) + September (30 days) = 92 days.
• In the fourth quarter it will be 92 days: October (31 days) + November (30 days) + December (31 days) = 92 days.

1st quarter: S=(100,000 x 14 x 90 / 365) / 100
S=3452.05 rub. Add this to the original amount. We get 103,452.05 rubles. Further by analogy with the first example.

Example three - Capitalization of interest at the end of the term

Interest capitalization annually

Capitalization of interest at the end of the term. In this case, the simple interest formula is used.

S=(100,000 x 14 x 365/365) / 100
S=14000 rub.

That, in fact, is all the wisdom. Now you know what is the case with bank deposit It is more profitable to choose the one with monthly capitalization. However, this is not the only criterion by which a deposit should be selected. Other criteria will be discussed in more detail in the articles below:

P.S. For dessert, to take a break from numbers and calculations, I have prepared a video about extreme sports for you. What I liked most were the views from which the video was filmed. I recommend watching:

Basic information about the mobile application

Program status: Free

Size:4MB

System: Android 4.1, 4.2, 4.3, 4.4, 5,6.0,7.0

Application page: https://play.google.com/store/apps/details?id=com.rustamg.depositcalculator.free

Designed for countries: Russia | Ukraine | Belarus | Kazakhstan

Bank deposit calculator for Android

Free deposit calculator for Windows 10

Calculation of deposits with interest capitalization.

Capitalization on a deposit is the addition of interest received to the deposit amount with the subsequent accrual of income on the increased amount.
Setting the calculation parameters with interest capitalization will allow you to calculate the deposit when the accrued amount of interest is added to the deposit amount and the accrual in the new period occurs with the new amount of savings. Such deposits are more profitable. Calculations of deposits with capitalization coincide with calculations of deposits from banks such as Tinkoff and Sberbank, VTB.

Calculation of deposits allowing for deposits and withdrawals

You can set the parameters for deposits and withdrawals, as well as the amount of the minimum deposit balance. The calculation will be made taking into account deposits and withdrawals and you will receive the resulting deposit amount.
A deposit with replenishment allows you to accumulate funds, for example, for an initial fee into a mortgage. Saving funds for a mortgage through a deposit is a fairly common way to buy an apartment. Many Russians resort to it.
The deposit calculator helps you understand how much money you will have at the end of savings and how much you need to replenish in order to have enough for the down payment. Naturally, the deposit needs to be opened as soon as possible maximum percentage and with capitalization. Such investments are the most profitable and safe. Other ways to increase your money are to play on the stock market or invest in yourself. But these costs do not guarantee 100% payback. The deposit is characterized by stability; you always know that your money will be returned to you thanks to the deposit insurance system from the state. But this applies to deposits of less than 1,400 thousand.

Deposits and taxes

As previously stated, deposits above a certain rate are subject to tax. More precisely, deposit income is taxed or income in the amount = income at the rate in the agreement - income at the Central Bank rate +5.
From this income, 35 or 30 percent is taken, depending on whether you are a resident or not.
Taxes must be taken into account by the bank. Although sometimes the bank does not write off taxes, and then sends a letter saying that you need to go to the tax office. Although the bank should do this. In this case, it is recommended to go to Personal Area taxpayer and see if you need to pay this tax. If you haven’t been credited, you’re unlikely to have to pay. No need to waste your time. When calculating, the tax is rounded to a whole number, that is, everything less than 50 kopecks is rounded to zero, and everything more to one. This should also be taken into account when making calculations.

Deposit and investment terms

Deposits can have investment terms from a week to 5 years. Although it may be higher. Although I had a deposit for 5 years.
Investing for the long term is an additional risk. In 5 years, money can depreciate. For the long term, you can take a risk and do foreign currency deposit or pick up and open a metal account. Gold is rising in price quite strongly and falling slightly.
Another option is to open a deposit in rubles and take out a mortgage. You pay the bank a fixed amount and you will have an apartment. When you still have money on deposit, you always know that even if the money depreciates, you will pay the bank a fixed amount, which can be taken from the deposit. It's simple - money will depreciate, your debt will depreciate. But this is if you have a loan in rubles. In currency everything is more complicated. When the ruble depreciates, the currency becomes more expensive and mortgage payments will increase. Taking out a mortgage in foreign currency is an unjustified risk.

Under what conditions can it be opened? deposit deposit in rubles? Which banks offer best interest on deposits? How to calculate the profitability of a deposit?

Hello, dear readers of the HeatherBober business portal!

2. What criteria can be used to classify a deposit deposit - 3 main characteristics

It should be noted that when investing money in savings bank, you also protect your funds! All amounts up to 1.4 million rubles are insured unconditionally. Therefore, you can lose your savings by making deposits only in the event of a global financial cataclysm.

Let's consider how you can classify deposits for a more convenient and effective choice of financial investments.

Sign 1. According to the period of storage of funds

We divide our investments into urgent And demand deposits. The criterion in this category is time. you invest cash for a certain period with its own remuneration features.

Term deposit does not allow withdrawals or additions invested amount. Such investments are made strictly certain period and interest. If you want to withdraw your savings ahead of time, most likely, your interest rates will be reduced, or even a fine will be imposed.

Example

Pensioner Denis Ivanovich made a deposit in the bank for exactly one year, so that in a year he could use the accumulated interest to buy building materials. But bad luck, he needed money to repair his car ahead of schedule end of the deposit. What to do? He went to the bank to collect his money.

At the bank, the manager nodded his head in understanding, shrugged his shoulders and began to issue a refund with a minimum interest rate.

Demand deposits are also issued for a limited period, but with much lower savings rates. This is due to the fact that you can withdraw the required amount from your account at any time or completely close the deposit.

In order to attract customers, many banks are opening universal services. Such hybrid deposits have a fairly high interest rate (up to 12% and higher depending on the currency), but have a limited potential for withdrawing funds in demand. Most often this is some kind of non-reducible deposit amount.

Sign 2. By type of task

1) Savings deposits

The contribution is made based on large purchase: car, apartment, yacht. Perhaps you want to save a certain amount for a trip or simply need a small capital to finance a project.

Very often, such programs already exist within banks and sometimes have their own names depending on the purposes for which the funds are saved (car deposit, apartment payment). The point of a deposit is that you make contributions, accumulating the amount of money you need.

2) Settlement deposits

Focus on financial activities, saving, spending and replenishing your deposit. Distinctive feature is that there is a certain minimum balance on the deposit. Usually the lower deposit threshold is small, and you practically have the entire deposit amount.

You use all the services of the bank, you can use a current account at your own discretion, the only drawback is a certain period of time (most often from 15 to 20 days) when the invested amount can be withdrawn in full, except for interest (usually does not exceed 1%).

Designed for target customer groups. The deposit is made based on the accumulation of interest on the remaining amount from the replenishment. Let's imagine that you open a deposit for which you are credited wage. Interest is accrued on the portion of the amount that you have not spent in the current month.

Closing your time deposit, Denis Ivanovich drew attention to special offer bank and asked whether it was possible to re-register the deposit on other terms.

The bank accommodated the pensioner and gave him another deposit, from which he could withdraw the amount of money he needed, and interest was accrued on the balance.

4) Metal inserts

Gold money. In this deposit you turn your savings into precious metals. Just buy the desired weight of noble material and monitor its market value.

Interest on these deposits is accrued extremely rarely. Income is usually made up of fluctuations in the price of jewelry.

Sign 3. By type of funds

And the last group of contributions, at first glance, is quite simple, but it’s worth taking a closer look at it.

Typically people make investments in national monetary units, but when there are financial changes, they run to banks, withdraw their money and buy currency, which they sell again a little later, ultimately receiving the same original amount.

We divide deposits into:

foreign exchange (usually opened in euros or dollars);

ruble (have maximum interest rates);

multicurrency (the deposit is made in euros, dollars and rubles, there is the possibility of free currency conversion).

Interest on all deposits is accrued in the currency in which they were opened. For multi-currency deposits, accounting is kept for each currency separately.

When drawing up a new contract, the manager asked in what currency Denis Ivanovich would like to open his new account?

The pensioner scratched his ragged beard and decided to impress the manager with his wisdom:

There are two types of money: ours and not ours, but you can mix it!? Make me a multi-currency! I will organize a small Forex on my account!

3. How to calculate the return on a deposit - 5 simple steps

If you decide to open a deposit, let's count how much profit it will bring us! You can go to the bank’s website and use a special remuneration calculator.

If this option causes mistrust or difficulties, then contact the representatives financial institution to clarify the scheme for calculating interest rates.

As Ostap Bender said:

Once upon a time there are some people wandering around the country banknotes, then there must be people who have a lot of them.

It is profitable for someone to borrow money, spend it, pay back the interest and put something in their pocket. And we will begin to count the profit that we will receive when opening a deposit.

Step 1. Specify the interest calculation scheme

Accruals occur daily, but the actual amount is usually indicated once a month.

Interest on the deposit can be calculated simplified or with. A simple scheme looks like adding the annual rate to the original amount, provided that we do not withdraw funds from the account.

It's a little more complicated with capitalization. In this case, interest is calculated on the deposit amount plus interest accrued for the previous period.

Step 2. Multiply the initial deposit amount by the annual rate

Let's play with the calculator and take 10,000 rubles for the initial amount. To see your net profit for the year using a simplified scheme, multiply by the annual rate (take 15%). Total, 10,000*15%=1500.

Step 3. Calculate income capitalization

The more often capitalization occurs, the deposit is more profitable? Yes, but not always. With frequent capitalization it decreases annual rate! And ultimately, the effectiveness of the deposit is leveled out.

To calculate capitalization, we need to add the interest received to the original amount and recalculate the interest again.

Example

Vitya opened a deposit for a period of one year and received a bonus from the bank in the form monthly capitalization of your contribution. The initial amount in the deposit account was 100,000 rubles and when closing the deposit, Victor expected to see 112,000 in his account.

Our investor was surprised to find 112,682 rubles in his account! Oh, Vitya, Vitya, you forgot that you received capitalization as a gift!

Step 4. Determine the effective rate

Please note that the effective rate only works when the deposit is capitalized and provided that previously accumulated interest is not withdrawn from the account. Thus, when calculating capitalization, we will be able to accumulate interest on the amount already added.

As we already know, when making a deposit we are told the interest rate. To find out effective rate (the percentage at which final calculations are made), we need to determine the number of capitalizations. The effectiveness of the bet will be proportional to this number.

For example, with an initial deposit amount of 10,000 rubles and an interest rate of 12%, you will receive 10,098 rubles in the first month and with monthly capitalization, the next interest will be accrued to you exactly on the last amount.

The rate with such a settlement system will increase its effectiveness to 12.06%, for the next month to 12.12% and so on until the deposit period expires.

Step 5. Calculate the final profit

S =N *(1+(Y *J /100*T )) A

• S - total amount;
• N - initial amount;
• Y - interest rate;
• J - number of days in the capitalization period;
• T - deposit term, number of days;
• A - number of capitalizations.

Screw this math! It could be simpler and clearer.

Let's make 3 different ones annual contribution 1000 rubles each and compare the results:

So it becomes clear that before making a contribution, it is advisable to independently determine its profitability and look for alternatives to the proposed programs.

4. Who offers the best conditions for deposits - review of the TOP 3 banks with favorable terms of cooperation

Let's look at the leaders in attracting investment in Russia.

What interest rates for deposits do banks offer us and how they differ, read on.

has been working in Russia since 1990. The largest bank in the Sverdlovsk region, the leader in its region in terms of deposits. It has representative offices in more than 43 regions of the country.

The reliability of the bank is confirmed by the Deposit Insurance Agency, the National rating agency at the “AA” level, which indicates the highest creditworthiness of the organization. Ural Bank reconstruction and development - a multiple winner of awards for social achievements of Russia.

Presenter financial institution Ural offers its clients profitable deposits and deposits up to 11% per annum. Various bonuses and discounts, Additional services expect bank depositors.

You can get plus 1% to the rate by opening a deposit in the Ural Bank. Leave your phone number on the company’s website and they will call you back within 20 minutes to clarify the features of the deposit for the program you are interested in.

Deposits are easy to manage using online banking. Online payments are available to customers to pay for various utility and entertainment services. On the company’s website you can participate in all sorts of promotions and competitions with attractive prizes.

Largest bank Russian Federation. It has branches in all major cities and territorial districts of Russia. Serves all segments of the population and forms of business, providing the widest range of banking services.

On the company's website you can familiarize yourself with the terms and conditions of bank deposits and immediately register your investment. You can choose a deposit that is convenient for you online. A 24-hour consultation and feedback service will help you clarify the nuances and features.

Having a deposit in Sberbank, you benefit from various bonuses and discounts in the socio-economic sphere of activity of Russian citizens.

Joint-Stock Company founded in 2000. Represents a wide range financial services and occupies a leading position in the agricultural sector of the economy. The Bank is developing investment and lending programs, focusing on the interests of citizens living in rural areas.

The bank operates in all regions of Russia and provides clients with the opportunity to manage their accounts from anywhere in the constituent entities of the Russian Federation. On the company's website you can view all available investment programs and ongoing promotions. If necessary, open a deposit remotely by submitting an application via the Internet.

5. How to open a deposit account correctly - 5 golden rules for a depositor

Opening a deposit is always associated with certain fears and risks. It seems that this is a very troublesome task - to go somewhere, to count something, and is the game worth the candle?

Let's look at how to invest your money with maximum efficiency and simplicity.

Rule 1. Do not choose a deposit solely based on the interest rate

The main criterion when choosing a deposit is the interest rate. The higher the bet, the more you can earn. But it is worth remembering that the bank has the right to change the interest rate depending on financial troubles.

Deposit rate is not Snickers, size doesn't always matter!

Apart from the interest rate, there are other factors that must be taken into account. In particular, the same capitalization that I wrote about above.

Rule 2. Make a choice in favor of banks with foreign capital

Such banks are stable and reliable. They have more long term work, which allowed them to reach international level. The capital of such banks, placed in foreign exchange reserves, is more stable to shocks.

The vast majority of institutions with foreign capital - affiliated companies foreign banks represented at Russian market. Due to sanctions and pressure on the Russian economy, it is much easier for such organizations to exist in the economic field of activity and at the same time offer attractive investment programs.

Rule 3. Divide funds into several deposits in different currencies

It would be reasonable to divide the contribution into several parts. This will allow you to freely convert money, managing exchange rate risks and leveling inflation processes.

Majority multicurrency deposits are made in three units: rubles, euros, US dollars. Other currencies are used much less frequently, but still have their place.

A banker is a merchant. He buys money interest on deposit at 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 TSB RF 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 the rest high percent on the deposit may be a marketing ploy, since 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:

Monthly deposits

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

Deposit interest calculator

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 to 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:

Deposit calculator with replenishment

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:
   • with the frequency specified in the agreement or less frequently, come to the bank and withdraw the amount of accrued interest or automatically transfer them to 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, according to the terms of the agreement, it is possible partial withdrawal in the amount of capitalized interest.

Formula for calculating deposit with capitalization

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.

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.

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 contract up to 3 years interest on ruble deposit 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%: