Term Deposit

$
15,000
3.50
%
Select...
For an interest rate of 3.50% p.a.
In 3 months including interest, you could have
$ 15,131.25
Your interest earned
$131.25 at maturity
Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a term deposit. The specific details of your term deposit will be provided to you. It is advised that you consult your financial adviser before taking out a term deposit.

The term deposit calculator calculates the accumulated balance and interest of a term deposit on the basis of the data entered;

  1. initial deposit amount;
  2. interest rate (per annum);
  3. investment term (months).

The accumulated balance and interest components are provided on two interest-paying points;

  1. annually;
  2. monthly;

The Present Value provided by this calculator is displayed as the amount labelled 'Total at end of term'.

Calculator Assumptions

Length of Month

Months are of equal length. However given some months are longer than others interest paid will vary depending upon the month.

Interest Rate used for Monthly Compounding Frequency

The calculator assumes the interest rate used in the monthly compounding is the annual rate entered divided by 12. This assumption is used consistently in the calculation of interest, total balance and effective annual yield.

Rounding of Amounts of Total Accumulation and Interest Earned

Principal and interest earned are rounded to the nearest cent. In practice, the accuracy many institutions calculate interest slightly differently, hence results may vary slightly.

Interest Rate

The interest rate input in the saving detail section of the calculator is a nominal interest rate per annum. The interest applied over each deposit period has been calculated as the nominal interest rate divided by the number of deposit periods.

Timing of Interest Conversion

The calculator assumes that interest is credited to the savings account at the same frequency as the deposits are made. In practice, there may be differences between the timing of the deposits and the timing of the interest being credited to the account.