Savings Account Interest Calculator
Estimate yearly and monthly interest on your savings balance, the tax deduction available, and how much more a 1-year FD would earn.
Updated 29 September 2026 · 26 banks trackedWhat you need to know
Enter your average balance and your bank’s savings rate. Banks calculate interest on the daily closing balance and credit it quarterly (monthly at some banks). For tiered-rate banks, use the effective rate shown on the bank’s page.
Savings Account Interest Calculator
Yearly interest ready reckoner
| Average balance | @ 2.5% | @ 3% | @ 4% | @ 6% | @ 7% |
|---|---|---|---|---|---|
| ₹10,000 | ₹250 | ₹300 | ₹400 | ₹600 | ₹700 |
| ₹50,000 | ₹1,250 | ₹1,500 | ₹2,000 | ₹3,000 | ₹3,500 |
| ₹1,00,000 | ₹2,500 | ₹3,000 | ₹4,000 | ₹6,000 | ₹7,000 |
| ₹5,00,000 | ₹12,500 | ₹15,000 | ₹20,000 | ₹30,000 | ₹35,000 |
| ₹10,00,000 | ₹25,000 | ₹30,000 | ₹40,000 | ₹60,000 | ₹70,000 |
Yearly interest (simple, before tax). Quarterly crediting adds a few rupees of compounding.
How the calculation works
Daily interest = closing balance × rate ÷ 365. Quarterly credit = sum of daily interest for the quarter. With a constant balance, yearly interest ≈ balance × rate ÷ 100.
Frequently asked questions
Why is my credited interest slightly different?
Because your balance changes daily; interest is computed on each day’s closing balance.
For information and comparison only. Confirm rates, charges and rules with your bank.