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Money & banking

Deposit interest calculator

Calculate bank deposit interest — simple or compound — at the rate and term you enter.

This tool runs entirely inside your browser. No file or text is sent to any server.

How to use

  1. Enter the deposit amount and choose the currency. The same amount, with separators added, appears underneath that box, making the digit count easier to check.
  2. Enter the annual interest rate and the term in months.
  3. Choose the method; underneath it, a description of that method appears.
  4. The total interest, final amount and average monthly interest are worked out immediately, and clicking the copy button copies the total interest.

Notes on this tool

The rate you enter is an annual rate. Depending on the method you choose, this tool spreads that same rate across the term differently: with "Simple interest", each month earns exactly one-twelfth of that rate on the original amount; with "Compound interest", each month's interest is added to the amount, and the following month earns interest on that larger total. That is why the same rate produces two different figures under the two methods.

Most short-term deposits at Iranian banks pay interest out monthly — that is this tool's "Simple interest". A deposit whose interest is never withdrawn and stays added to the balance is closer to "Compound interest".

This tool does not account for tax, fees, or a bank's provisional rate; it calculates only with the rate you enter.

The total interest is written in Latin digits, so that wherever you paste it — a form, a message, a table — it is read correctly.

Frequently asked questions

How much difference does simple vs compound actually make?
Not much over a short term; but the longer the deposit runs, the wider the gap grows, because compound interest is calculated on a larger amount each month. Try both to see which one matches your account.
My deposit's interest is paid into my account every month — which method should I use?
Use "Simple interest". That is how most short-term deposits with a monthly payout work: you earn a fixed amount every month, and the deposit's principal stays untouched.
Does this tool also deduct tax on the deposit interest from the figure it calculates?
No. This works out interest based only on the rate you enter; ask your bank about tax, fees and any exemption rules.
I need the total interest written out in words.
Copy the total interest or the final amount and paste it into the number to Persian words tool.

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Money & banking