Term Deposit Calculator

Compound Interest Term Deposit

You can save money for your new home or any other savings goal using a term deposit. Term deposit accounts have higher interest rates than regular savings accounts and the rate is usually fixed for a nominated period.

Find out how much you can earn from a term deposit and how much you can save if you compound you interest.

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Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.

Calculator Assumptions

Length of Month

All months are assumed to be of equal length. In reality, some term deposit accounts may accrue on a daily basis leading to a varying number of days’ interest dependent on the number of days in the particular month.

Interest Rate used for Monthly Compounding Frequency

The calculator assumes that the interest rate to be used in the monthly compounding case is the annual rate entered divided by 12. This assumption is used consistently in the calculation of the amount of interest, total balance and effective annual yield. This is standard industry practice.

Rounding of Amounts of Total Accumulation and Interest Earned

The amounts of total accumulation and interest earned are rounded to the nearer cent. In practice, the accuracy in these amounts is dependent on the rounding protocols used for interim amounts of interest credited to the account.

More information or help

For confidential assistance with your home loan or to talk to your local mortgage broker, call us at any time on 13 LOAN or call our direct line on +61 2 9249 3739.

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